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Barclays Bank of Kenya launches money transfer service

Barclays Bank of Kenya launches money transfer service

CC image courtesy of A Walby on Flickr

Barclays Bank of Kenya has unveiled a new cardless money transfer service that allows customers to send and receive money at any Barclays ATM.

The service, named “CashSend”, will allow Barclays Bank of Kenya account holders to securely transfer money to mobile phone subscribers.

Transactions will originate from Barclays ATMs, with recipients similarly withdrawing their funds from any Barclays ATM.

Speaking at the launch, Jeremy Awori, Barclays Bank Kenya managing director (MD), said: “CashSend is a trendsetting product that will allow Barclays customers to electronically transfer funds through a Barclays ATM to a recipient, who is then able to withdraw the funds from any Barclays ATM, without using a card or having a bank account.”

He said the service is part of a three-year strategy by the bank to diversify its service delivery channels through technology-based solutions.

The bank said Barclays customers will only need to purchase a money voucher at a Barclays ATM, specifying the amount they would like to send and the beneficiary’s mobile number.

A system-generated Personal Identification Number (PIN) will then be created for the transaction and a notification text sent to the beneficiary’s mobile phone number.

The originating customer will contact the beneficiary, share the PIN for the transaction, and request them to redeem the money voucher at a Barclays ATM.

At any Barclays ATM, the recipient will only need to access the cardless services menu and use the details sent on the notification text and PIN received to withdraw the funds.

Posted in: Mobile

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