Ever been caught short at a cashier's till because there wasn't enough money in your account?

Or wanted to check on a big deposit but couldn't because you were out and about? Help is now at hand via your mobile phone and a variety of bank services that allow you to make transactions via your handset.

While some services are aimed at up-to-the-minute phones and tech-savvy customers wanting instant access, others allow quick grabs of account information via a simple text message. If you know how to send an SMS, you'll be able to get your account balance.

Who offers what

NATIONAL AUSTRALIA BANK began SMS Banking in May. Non-business customers aged 16 and over can request by SMS an account balance or a mini statement (up to the last five transactions) and transfer cash between unlimited, linked NAB accounts.

There's no linking to the internet; it's all done by SMS.

The service is free until October 31 - after that, checking your account balance and requesting a mini statement will cost 25 cents and a funds transfer will cost 40 cents. Of course, standard text message fees charged by your phone service provider apply at all times.

Once online registration is completed, you allot each linked account a nickname which is used in future SMS requests.

You then send a text message to an NAB number with a request for a balance, mini statement or funds transfer and a few seconds later, receive an answer.

NAB spokesperson Felicity Glennie-Holmes says the onus is on customers to make sure they delete bank text messages from their phone so they're not carrying stored messages with their account nicknames and confidential information which could be accessed by other people if the phone is lost or stolen.

However, Glennie-Holmes says money cannot be lost from accounts via mobile banking since transfers to other accounts are not permitted.

ANZ launched a two-tiered service in January, TXT Banking, which enables customers, including businesses, to check account balances on up to three accounts and receive mini statements of the last five transactions. The service is open to account holders aged 12 and over.

The service is free until the end of the year, after which time the costs will be reviewed. And standard text message fees charged by your phone service provider apply.

With M-Banking, the second tier of TXT Banking, you can request a balance and mini statements on up to 10 accounts and transfer funds between ANZ and non-ANZ accounts.

M-Banking is open to customers aged 16 and over. It requires a password and can be used only on the one registered handset. No account information is stored on the phone.

There are no bank fees but that could change at review time at the end of the year. Again, data transfer costs from your network provider apply.

SUNCORP'S mobile phone banking package is based on browser contact rather than having to download anything to your phone, so it's like having a mini version of internet access on your handset.

You can request an account balance on all your accounts, get a mini statement of up to 10 transactions, transfer funds to Suncorp and non-Suncorp accounts (as long as you have an authentication token) and pay bills by BPAY.

The service works on any mobile with an SSL (Secure Sockets Layer)-capable cookie-enabled browser and more than one handset can be used. There is currently no charge from Suncorp but normal data transfer fees from your phone service provider apply. No account information is stored on the phone and a password is required.

Suncorp is also working on an SMS service, says Terry Wasmund, executive general manager of deposits.

Hidden costs

While the new technology can be hugely convenient, watch out for hidden costs, says Harry Senlitonga, analyst at research house Cannex. You'll be able to avoid queues in the branch and make a bill payment on the bus to avoid a late-payment penalty, for example.

But, Senlitonga says: "It comes at a cost. Some will require extra cost which isn't charged by the financial institution but more likely your mobile phone provider as part of data transfer usage."

So unless extra use is included in a capped plan, ask your provider to explain how you will be charged.

Other services

Currently, mobile phone banking is offered only by NAB, ANZ and Westpac although most banks have other SMS services to help you manage your accounts.

St George has SMS alerts to let you know when large deposits or withdrawals are made or when your account reaches a certain high or low limit. It also provides an SMS locator service notifying customers of the closest ATM or branch.

And security-wise, the bank sends customers a code by text to authenticate certain internet transactions.