mobile banking f aqs

8/12/2019 Mobile Banking f Aqs

1/5

1

Mobile Banking FAQs

Why should I sign up for Mobile Banking?

Mobile Banking is a fast, easyand secure way of accessing your bank 24 hours a day 7 days aweek from wherever you are. It allows you to carry out menu driven transactions without having toremember any key words and downloading any applications on your handset. All you need is toregister thendial *208# and you start using Mobile Banking right away.

What is Mobile Banking? What transactions can I perform using this service?

Mobile Banking is a service that lets you access your bank account from a mobile phone. It allowsyou to perform the following:

Balance Inquiry

Mini-statement Request (last 5 transactions) Funds transfer (To other accounts within CfC Stanbic Bank that are held by you and to third

party CfC Stanbic Bank accounts nominated by you).

Note: Funds transfers only occur in same currency accounts.

Bill payments (CfC Stanbic Credit Card)

MPESA to Bank Transfers (accessed through Pay Bill option, business number 600100)

Bank to MPESA Transfers

Cheque Book Request

Foreign Currency Exchange RatesUSD, GBP, EURO, ZAR, TZS, UGX, SSP

Airtime top up Change PIN

Full statement request

How do I register for Mobile Banking?

Customer can register by walking into any CfC Stanbic Branch and filling in the registration form.Existing customers will receive a PIN on the same day and can start transacting right away. Newcustomers will receive a PIN on day of registration but will only be able to transact after 48 workinghoursonce account is fully operational.

What are the eligibility criteria for using Mobile Banking?A customer must be a holder of a Kenya Shilling CfC Stanbic current accountto register.However, other Kenya shilling accounts can be linked on request by specifying them on theapplication form. You need to be a subscriber of a cellular service provider that the Bank has a tieup with (currently the service is only available on Safaricom & Airtel). You will need a normal GSMmobile phone, your mobile banking phone number and PIN.

Will I be able to transfer funds even if I do not register the beneficiary account?

Yes, you will be able to transfer funds to any CfC Stanbic account and select to either save it sothat you do not need to type it again when transferring funds to the same beneficiary or choose notto save it. Your own accounts that are linked on mobile banking will automatically appear as

beneficiaries.


2/5

2

What are the limits for the various transactions performed using Mobile Banking?

Funds transfers Kes 250,000 per day; bill payments no limit; Bank to/ from MPESA Kes 70,000 pertransaction, Kes 140,000 per day.

Please note that you can hold a maximum of Kes 100,000 in your MPESA account. If you attemptto transfer an amount that will result in your MPESA account having a balance higher than the

allowed maximum of Kes 100,000, the transaction will fail and the transaction amount and chargeswill be automatically reversed within the same day.

Can I transfer money to other local banks/ internationally?

No. Currently, you can only transfer funds to any CfC Stanbic bank account.

If I am not sure about the beneficiarys CfC Stanbic account number, although I know his/her mobile number, can I still transfer funds to the beneficiarys account?

No, in order for you to transfer funds, you must type out the beneficiarys full account number.Subsequently, the system will remember the account number if you select the option to save the

beneficiary when prompted by the system.

What can I do with mobile top-up?

Recharge your prepaid mobile from wherever you are, with the top-up value of your choice(between Kes 10010,000; Safaricom & Airtel). You can also top-up another number.

How long does it take for funds transferred from my bank account to reach my MPESAwallet?

The funds will be credited within 20 minutes unless the MPESA system is experiencing delays.

How much does the bank charge for each transfer?Each transfer of between Kes 100 and Kes 70,000 will cost Kes 70

Can I transfer funds from my bank account to another MPESA wallet apart from myregistered number?

No, for security reasons you can only transfer funds to your mobile banking registered phonenumber.


3/5

3

MPESA to Account Deposit

What kind of a cheque book will you receive for the request given via Mobile Banking?

You will receive either a 50/ 100 leaf cheque book depending on the type of account. It will bedelivered at your domicile branch within 5 working days of receiving the request. Normal chequebook reorder charges will apply.

How do make a CfC Stanbic Credit Card Payment on mobile banking?

You will need to pre-register your credit card for bill payments by filling out the Electronic BankingApplication Form. This functionality will then appear automatically appear under the bill paymentsmenu.

How much does the Credit Card payment service cost?

Kes 30 per payment.


4/5

4

Are there any charges for registration on Mobile Banking?

Registration on Mobile Banking is FREE of charge. However, once registered charges are pay asyou go on a real-time basis.

Would I be charged for any specific transaction on Mobile Banking?

For any transaction, you will be charged Kes 30 which will be debited from your bank account.

Exceptions:Registration; PIN change; Airtime FREE; MPESA to Bank FREE of bank charges;Bank to MPESA Kes 70 per transaction.

You will be charged Kes 5 from your airtime by your Mobile Network Operator (MNO) for everyUSSD session (every time you dial the short code *208#).

What do I do if I forget my PIN?

Please call our 24 hour customer care centre +254 20 326 8888 or on the number provided onceyou dial *208#. Upon positive identification they will generate a new PIN and send it to you via

SMS. Otherwise, you will be requested to visit any of our branches for positive identification beforegetting a new PIN. You will have to change your PIN once you log in using the new PIN.

Why am I logged off from the session every time I key in some message?

Select the appropriate option from the menu and follow the instructions displayed on the handset.Refer to the user manual for a detailed guide.

Why are all my accounts not displayed on my handset?

The only accounts displayed on Mobile Banking are the ones linked to your customer number andyou have enrolled them on the application form during registration.

If you have more than one customer number, the other accounts will not be displayed.Only one mobile number can be assigned per customer number.

What should I do in case my handset gets stolen?

There is no dangeras mobile banking access is not stored on your phone or in the SIM; rather it isaccessed via the server after providing your mobile banking PIN. All transactions held on yourmobile phone before a report of theft shall be your liability only. However, call our Customer CareCentre and inform them of the loss. They will deactivate your mobile banking registration.

Why do I receive error messages when I try to log in?

You need to register for Mobile Banking and should have a valid PIN.

Will my mobile operator charge me for airtime usage?

Yes, you will be charged Kes 5 every time you dial the USSD short code *208#.

How secure are the transactions carried on my mobile phone?

The transactions are limited to a single registered mobile number.

When you sign up for Mobile Banking, you create a unique PIN that ensures only you can accessthe accounts.

Our powerful firewalls, encryption technology, and timed log-offs help ensure your privacy.

No information is stored on your sim card once you complete your transaction.


5/5

5

How long will it take to receive my full statement?

Upon successful request for your account statement, you will receive a confirmation through SMSincluding a reference number. You will receive the statement requested through email within 24working hours.

What is my customer number?

Your customer number is a unique identifier for every customer. All account numbers (Kes) linkedto your customer number can be linked to your primary mobile banking account.

Can I nominate accounts with the same customer number for funds transfer?

Yes. All CfC Stanbic accounts can be nominated for funds transfer.

How many accounts can I nominate for funds transfer?

There is no limit to the number of accounts that you may wish to nominate for the funds transfer

service.

Can I transfer funds from my nominated account(s) to my own accounts?

No, you can only transfer funds into the nominated account(s) and not out of the nominatedaccount(s).

How do I link accounts on mobile banking?

You can request for your accounts to be linked by specifying them on the Electronic BankingApplication Form during or after registration

Can I transfer funds between my linked accounts?

Yes.

Can I transfer money between two different currency denominated accounts?

No. You can only make funds transfers between Kenya shilling currency denominated accounts.

How much will I pay to transfer funds?

You will be charged a flat fee of Kes 30 for each funds transfer transaction that you perform on theMobile Banking platform.

How do I opt out if I wish to be deregistered from mobile banking?

Just visit any branch and fill out a mobile banking deregistration form and we will effect theinstruction within 3 working days.

For any clarification or further information, please [email protected]
mailto:[email protected]:[email protected]

mobile banking f aqs

Documents