Author Topic: What is Mobile Banking? Would you like to know about mobile banking?  (Read 1239 times)

Offline ashiqbest012

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DBBL Mobile Banking at a glance
Banking for the unbanked


What is Mobile Banking?

Mobile  Banking  is  a Banking  process  without bank  branch  which provides financial services to unbanked communities efficiently and at affordable  cost.  To  provide  banking  and  financial  services,  such  as cash-in,  cash  out,  merchant payment,  utility  payment,  salary disbursement, foreign remittance, government allowance disbursement,  ATM  money  withdrawal  through  mobile  technology
devices, i.e. Mobile Phone, is called Mobile Banking.

Benefits of Mobile Banking

By  providing  electronic  access  to  money,  it is  possible  to  ultimately alleviate poverty, because of the following reasons.

•   Real time on-line banking
•   Available anytime, anywhere throughout the country
•   It is convenient, affordable and secure
•   It is much more effective in developing savings habits
•   It will  make  access  to  banking  and  advanced  payment transactions at affordable cost
•   It is  much  safer,  speedy  and  safeguard  against fraudulent transactions


What does DBBL Mobile banking offer?  

   Customer Registration
   Cash-in  (cash deposit)
   Cash-out (cash withdrawal)
   Merchant Payment
   Utility Payment
   Salary Disbursement  
   Foreign Remittance
   Air-time Top-up
   Fund Transfer

Where to register?

Customer  can  register  at any  authorized  agent point  of  DBBL  -  at present these are the retailers of Citycell & Banglalink throughout the country  who  can  display  â€˜DBBL  Agent Certificate’  and  â€˜DBBL  Mobile Banking Banner’.

How does it work?          

   Customer  fills  up  the  KYC  Form  and  submit  to  agent along with his photograph & National ID (NID)
   Agent checks the Application Form, photograph & NID
   Agent  goes  to  Customer  Registration  Menu  in  his/her mobile and insert customer’s mobile number
   Customer  receives  a call  through  IVR or  USSD  prompt and  in  reply,  s/he  gives  a 4-digit PIN number  of  his/her choice (please remember your PIN)
   A Mobile Account is created in the DBBL system which is his/her mobile number + one check digit
   Customer receives an SMS which contains his/her Mobile Account number (please remember your check digit)

Why PIN is required?

PIN is required to be inputted during cash withdrawal from an Agent or  DBBL  ATM.  PIN  ensures  security  of  your  money  and  protect fraudulent transactions.

Why PIN is strictly confidential?

PIN is the key for transaction of Mobile Banking. Only correct match of  PIN &  Mobile  Number  can  access  the  Mobile  Account.  PIN is needed to verify the A/C owner by the system. If a PIN is disclosed, respective  account is  at risk;  therefore,  PIN should  be handled  very carefully.  

Why Check digit ?
Mobile number is public and known to many people. Without knowing your check digit, none will be able to deposit money at your account, thus  it helps  to  keep  your  mobile account confidential.  On  the  other hand,  a check  digit  eliminates  typing  error, thus  protects  sending or depositing money to a wrong account.  

Which Telco’s Mobile can be registered?

Customer  having  any  mobile  from  any  Mobile  Operator  can  be registered  for  DBBL  Mobile  Banking  at any  agent point of  Banglalink and  Citycell.  All  these  Mobile  Account holders  will  be able  to  deposit and withdraw money from the Agents. However the customers having mobile  from  operators  other  than  Banglalink  and  Citycell  will  not  be able to initiate many self-initiated services like Balance checking, fund transfer, utility payment, Air-time top up, PIN Change etc. Customers having mobile from Banglalink and Citycell will be able to enjoy all the services – agent-initiated as well as self-initiated.

What type of Mobile set is required?          

Any type of mobile set can be used for DBBL mobile banking.


How much initial deposit is required?

Customers can open a DBBL Mobile Account with an initial deposit of Taka 10/- (taka ten) only.


Can  I  deposit  and  withdraw  money  immediately  after registration?

You can deposit money immediately after registration. However, you can  withdraw  after  your  account is  fully  registered.  Bank  officer verifies  the  information  on  the  registration  form  (KYC  form)  and authorizes the account for full registration. Normally 1-2 working days are required for full registration. After your account is fully registered, you will get an SMS notification.    

How is DBBL Mobile Banking secured?
DBBL  Mobile  Banking  is  highly  secured  as  it uses  either  USSD  or SMS+IVR as  its  communication  channel.  In  case  of  USSD,  both  the instructions and  PIN are  communicated  using  USSD while  in  case  of SMS+IVR,  instructions  are  sent via SMS  and  PIN via  IVR (voice channel) both the USSD and IVR are secured for transmission of PIN .


Customer’s  money  is  safe  as  none  can  withdraw  his/her  money without taking possession of Mobile set, PIN and Check digit togrther. None will be able to deposit unwanted money into a Mobile Banking Account without knowing  the  check  digit (although  the  mobile number is publicly known).


« Last Edit: August 20, 2011, 08:54:57 AM by ashiqbest012 »
Name: Ashiq Hossain
ID: 121-14-696 & 083-11-558
Faculty of Business & Economics
Daffodil International University
Cell:01674-566806

Offline ashiqbest012

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Re: What is Mobile Banking?
« Reply #1 on: August 15, 2011, 06:40:57 PM »
Where to cash-out (cash withdrawal)?

Customer can cash-out (withdraw) at any authorized agent of DBBL (at present Citycell & Banglalink agents), DBBL ATMs and DBBL Branch.

How does it work? 

   Customer asks the Agent for withdrawal of an amount from his/her mobile account
   Agent initiates the transaction from his/her mobile
   Agent  gets  prompt  menu  and  in  reply  agent enters customer’s  mobile  account number  (including  check  digit) and amount to withdraw
   DBBL  system  sends  prompt  menu  to  the  customer’s mobile (or  IVR Call):  “You  are  going  to  withdraw  Tk.  XXXX  from
your  mobile  account with  DBBL.  If  you  want to  continue, please enter your 4-digit PIN”
   Customer enters his/her PIN
   System  debits  customer’s  account  and  send  an  SMS  to  the customer’s mobile
   Agent hands over money to the customer


Where to cash-in (cash deposit)?

Customer  can  cash-in  (deposit)  at any  authorized  agent of  DBBL  (at present Citycell & Banglalink agents) or DBBL Branch.

How does it work? 

   Customer hands over cash to the Agent
   Agent initiates the transaction from his/her mobile 
   Agent  gets  prompt menu  and  in  reply  agent enters customer’s  mobile  account number  (including  check  digit) and amount
   Agent enters his/her PIN
   System credits customer’s account for the same amount 
   Agent issues a receipt to the customer
   System sends an SMS to the customer’s mobile
   For  security  reason,  customer  needs  to  check  the  sending number  of  SMS  and  the  amount.  SMS  will  be  sent  from
16216


What is transaction limit ?

There may be scarcity of cash at agent points. We want to serve as many  customers  as  possible  from  each  agent points.  On  the  other hand,  it is  required  to  minimize  fraudulent loss,  if  any.  To  arrest  all the above, a transaction limit in terms of frequency and amount have been set in the system. Current limit for the customers are as under:

Cash-in frequency per day = 5 times

Cash-out frequency per day = 5 times

Cash-in / cash-out amount per transaction = 5,000/-

Cash-in frequency per month = 20 times

Cash-out frequency per month = 20 times




How to check your account balance? 

   Customer  initiates  the  transaction  from  his/her  own mobile
   DBBL  system  sends  prompt menu  to  the  customer’s mobile  (or  IVR Call):  “Please  enter  your  4-digit PIN  to
know  your  balance  or  press  Cancel  button  to  cancel the request”
   Customer enters his/her PIN
   System sends the balance into his/her mobile



How to change PIN? 


   Customer initiates the process from his/her own mobile. 
   DBBL  system  sends  prompt menu  to  the  customer’s mobile  (or  IVR Call):  “Please  enter  your  existing  4-digit PIN to  proceed  or  press  Cancel  button  to  cancel  the request”
   Customer enters his/her existing PIN
   DBBL system asks for new 4-digit PIN
   Customer enters his/her new PIN
   The PIN is changed

What is Salary/Allowance Disbursement?

It  is  a process  by  which  Corporate  Office  can  disburse  the  salary  of their  employees  and  Government can  disburse  different allowances like elderly allowance, freedom fighter allowance to the people within a few moment in a hassle free way.

How it works?

•   Corporate  Office/ Government will  send  the  list of  mobile account   numbers  (including  check  digit)  and  monthly salary/allowance to DBBL
•   DBBL  will  credit all  the  individual  accounts  by  debiting corporate account centrally by a batch process system
•   The  employee/beneficiary  will  get  an  SMS  regarding  the transaction
•   The employee/beneficiary can go to any agent or DBBL ATM or DBBL Branch for withdrawal of money

Benefits of Corporate Office/Government?

•   Time savings
•   Cost savings
•   No need of extra manpower
•   Probability of error is very low
•   Instant service is ensured

Benefits of employee/beneficiary?

•   Instant credit to the account
•   No hassle to collect salary/allowance
•   No queue
•   Money  can  be  withdrawn  from  any  agent  or  DBBL  ATM  or DBBL Branch

How foreign remittance can be sent to Mobile Account?

•   Exchange  houses  at  abroad  receive  remittance  against beneficiary’s mobile account number
•   Exchange  houses  send  the  mobile  account number  and  the amount to DBBL
•   DBBL  will  centrally  credit the  amount against respective mobile account
•   The beneficiary will get an SMS regarding such transaction.
•   The  beneficiary  can  go  to  any  agent or  DBBL  ATM  or  DBBL Branch for withdrawal of money


Fees & Service Charges
 


Registration Fee  : Free

Cash-in Charges : 1% of the transaction amount or Tk.5/-, whichever is higher

Cash-out Charges   : 2% of the transaction   amount or Tk.10/-, whichever is   higher.

Merchant Payment  : Free for customer

Mobile Top-up : Free for customer

Salary Disbursement  : Free 

Allowance Disbursement      : Free

Remittance Disbursement    : Free

To know more, please dial our call centre at: 16216.

Name: Ashiq Hossain
ID: 121-14-696 & 083-11-558
Faculty of Business & Economics
Daffodil International University
Cell:01674-566806

Offline sethy

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Re: What is Mobile Banking? Would you like to know about mobile banking?
« Reply #2 on: September 22, 2011, 01:24:44 PM »
Thanks for the post. We can save our time by Mobil Banking. In shortly we can say that Mobil Banking is Banking in our pocket.
« Last Edit: September 24, 2011, 12:16:08 PM by sethy »
Sazia Afrin Sethy
ID:101-11-1366
BBA Department,
Batch: 25th,
Sec: B.