Now you can do your banking on a watch

Functionality is limited to balance checks and daily notifications for now

Updated: 
Undated handout photo issued by Nationwide of their App in action. Customers of Nationwide Building Society can now check their balances using a watch on their wrist in the latest innovation to help people manage their money

Customers of Britain's biggest building society can now check their balances using a watch.

Nationwide Building Society said that members who have downloaded the mobile banking app for Android will be able to access their balance if they want to using their Android Wear smartwatch.

As well as being able to check their balance with the smartwatch, they can also set it to give them daily notifications of how much money is in their account.

The move comes as people increasingly turn to technology to check their account balances and transfer money, with the rise of mobile payment services such as Barclays' Pingit and the industry-wide Paym, both of which help people to transfer money as easily as texting.

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Nationwide already operates a service on its mobile banking app called "quick balance", which allows people to get immediate and secure access to their account balance with the touch of a button. The quick balance button on the app has been used more than 12 million times since it was launched in June.

It also has an "impulse saver" service which encourages customers to get into the habit of regularly saving small amounts by allowing them to transfer pre-configured amounts from their current account to their savings account with a couple of taps. More than £3.5 million has been transferred into savings in this way.

Tony Prestedge, chief operating officer at Nationwide, said: "Giving those members who want and have the technology the ability to check their balance on their watch provides them with even more choice as to how they interact with us, whether it is online, through an app, face-to-face or over the phone."

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