I&M Bank partners with Airtel Money
09 December 2015, 12:15
Nairobi - Airtel, a leading telecommunications service provider with operations in Kenya, and I&M Bank Ltd have announced a partnership that will allow I&M Bank customers access to their accounts via Airtel Money free of charge.
The Bank account holders will now be able to pull money from their bank accounts into their Airtel Money wallets or, push money from their Airtel Money wallets to their I&M Bank accounts automatically.
The promotional offer starting from December 9, 2015 to March 31, 2016 will see I&M Bank customers who have linked their Airtel Money wallets to the service enjoy free access on transfer of money from their I&M Bank account to Airtel Money and transfer of funds from Airtel Money to I&M Bank account.
To move funds from bank account to Airtel Money account, an I&M Bank account holder will dial *458# from their Airtel Money registered number, enter their Login PIN, reply with option number 4 for Mobile Money, select Airtel Money, enter recipient’s mobile number (registered on Airtel money), enter amount to send, select the transacting Bank account, confirm the transaction and submit. The beneficiary will receive Airtel Money credit alert. Customers will also receive a transaction alert from I&M Bank.
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To move funds from Airtel Money account to an I&M Bank account, the customer will go to the Airtel money option, select make payments, pay bill, others, then input the I&M pay bill number 542542, enter amount to transfer, their pin, then on reference they will enter their 14 digit I&M Bank account number and submit. The customer will then receive a confirmation message from Airtel Money confirming the successful transaction.
The minimum transaction amount is KES 100 while the maximum amount per single transaction is KES 70 000. Cumulative limit for daily transactions is KES 140 000.
To sign up for Bank to Airtel Money, customers are advised to visit any of the I&M Bank Branches.
“The mobile phone has become a powerful tool in the daily lives of our customers. We are delighted that we could make use of the technology to make life easier and convenient for our customers by giving them access to affordable mobile financial services using Airtel Money”, said Adil El Youssefi.
While affirming I&M Bank’s commitment in delivery of innovative and relevant mobile commerce solutions that give customers a better banking experience, Arun Mathur, CEO I&M Bank Ltd noted that there has been a steady growth in the uptake of Airtel Money service by the Bank’s customers since its launch.
“We shall continue to strengthen our business model through innovation, enhanced use of technology, automation and collaborations with industry stakeholders such as Airtel to help our customers continually enjoy banking with I&M Bank,” he concluded.
Airtel Kenya offers Airtel Money services to individuals and corporate entities as an alternative payment channel and is increasingly accepted and used by more and people as a convenient and affordable means of transferring money and paying goods and services across the country.
Airtel Money customers can also send money for free across all networks, purchase airtime and enjoy 25% airtime bonus, and pay utility bills such as Kenya Power, Nairobi water and DSTV for free.
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