The newly-launched service is set to enable customers to transfer funds from their bank account to any other bank account via their mobile phones.
How it works
When customers register for mobile banking, a seven-digit number dubbed MMID (Mobile Money Identifier) is generated and issued by the bank. Customers can also to register for receiving funds only. Then, the remitters have to enter the beneficiaries’ mobile number and MMID and the amount to be transferred. Finally, both the remitter and beneficiary are expected to receive SMS confirmation of the transaction.
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