Spain’s Banco Bilbao Vizcaya Argentaria is to join the ranks of banks offering mobile banking services with the launch of BBVA Mobile, what it views as "the first 100 per cent native application" on the mobile banking market for the iPhone.

The new app will allow users of Apple’s smartphone and iPod Touch to check their account data and perform routine banking transactions. The bank said it will launch further specific applications for other smartphone terminals such as BlackBerry, Android and the iPad over the coming months.

Via this application and with internet access, customers are also said to be able to interact with the bank from any location and perform their customary transactions via their smartphone “easily, more quickly and intuitively”. Features allow clients to view their overall position at the bank, check their account and card movements, carry out transfers, check their investment funds, trade stocks.

A key feature is said to be a service called Mobile Cash, an application that can send money from a phone to any individual by entering their telephone number. The recipient will then receive a text with a secret code allowing them to withdraw the money from any BBVA ATM in Spain.