The banking group has teamed up with multimedia company Talpa and telecom provider Orange to provide this new service, which is designed to conform to the current transition to 24-hour banking.

Mobile phones are the wallets of tomorrow. Rabo Mobile lets you transfer funds between payment, savings and investment accounts and transfer funds to another account – quickly, easily and safely, said Piet van Schijndel, member of the executive board of Rabobank Nederland. Plus it will be possible within the foreseeable future to use mobile phones for contact-free payments. You will then be able to leave your wallet at home. After all, you will have the bank in your pocket everywhere and around the clock.

Initially, Rabo Mobile will target Rabobank’s 2.6 million internet customers, and is set to offer various products developed to cater specifically for small to medium sized enterprises.

Under the terms of the phone calls deal, calls will be charged at 10 euro cents a minute, but users must make a minimum of E10 worth of calls a month. Customers will also receive 1MB free internet use every month, as well as other features.

In addition to the standard mobile features, special banking services are available on request. For example, text messages can be received when a customer’s salary has been accredited to their account or when a mortgage payment has been deducted.

Customers are able to retain their current number and phone if they wish.