HSBC released updates to a pair of its mobile apps in the UK earlier this week. Functionality is split between the two: One app carries the traditional transactional capabilities such as bill pay and transfers between accounts, while the other, the so-called Fast Balance app, allows for viewing of the past 6 transactions (the traditional app can view 90) across multiple accounts and topping up the mobile phone.

A screenshot of the Fast Balance app is below.

The “Top up phone” feature refers to functionality that is rare in the US where most plans are post-paid, but is common in much of the world where prepaid plans predominate. Users can move money to their phone service provider to add cal minutes and data minutes to their balance.

In Africa, it is common to send call time or minutes rather than money to the phones of friends and loved ones. Mobile phone functionality, in other words, is so crucial and universal that it is effectively a currency.

The apps run on Android and iOS phones and tablets, and require access to the bank’s online banking platform. For instance, new bill pay profiles cannot be added in mobile, nor can passwords. Both must be entered in the online banking environment.

Users can log into each of the apps using prompts set up online. For example, users can choose to enter their favorite color, and selected characters from the account password.

HSBC also updated its dual phone/tablet apps for the US market today.