Could the days of having to trudge to your local credit union and wait in long queues before meeting the teller to carry out financial transactions be over?
The Irish banking software provider Wellington IT has been working on new software with the credit union sector that will include online banking functionality, debit cards, plus a smartphone app that will work on both the iPhone and on Android devices.
At the time of writing 54 credit unions have already started using Wellington IT’s ‘CU Online’ facility. According to a source from the company the service now has 100,000 registered users.
As well as this, credit union members will also be able to use their credit union debit card to pay for purchases in retail outlets.
Other new services will apparently include automated SMS alerts and same-day payments clearing throughout the Single Euro Payments Area.
The move could mean that, for the first time, customers of the 403 credit unions will eventually be able to access to their accounts from anywhere to carry out transactions such as money transfers and to check their balances without having to physically go into their local credit union.
Wellington IT’s managing director Alex Dunne said that the company has been working with credit unions in Ireland for over 20 years.
Online banking image via Shutterstock