Stanbic Bank Zambia Limited has launched Instant Money (IM), their flagship money transfer solution, to enhance seamless person-to-person payments direct to any mobile number in the country at a flat rate of only K11 per transaction.
In a statement in Lusaka, Stanbic Head of Digital and e-Commerce, Mwila Chibela, announced that the money transfer product was being reintroduced on the market with new features that allow customers the ability to seamlessly and securely move funds from Stanbic bank accounts to any mobile number anywhere in the country.
According to Chibela, the service is now active and available to assist account holders to make payments and send money to recipients, who may easily access their funds at any Stanbic ATM countrywide.
“Instant Money is a Stanbic Bank money transfer product, available on Mobile and Internet Banking. It is a very easy and most affordable way of sending money to anyone in Zambia as long as they have an active mobile number. The sender needs to have a Stanbic Bank account to make payment or send money, while the recipient does not need to have an account as all they will need is an active mobile phone number,” Chibela explains.
“The recipient can access the money from any Stanbic Bank ATM countrywide. There is no need for a card, and all they will do is press the ‘Instant Money’ button on the Stanbic Bank ATM and follow the prompt. Withdrawing Instant Money on our ATMs is free of charge.”
He explained that the newly-launched Instant Money product had been returned back to the market with enhanced security features, among others.
“Instant Money was unavailable for a few months, but is now available for customers to access, and is still cost effective, convenient and easy to use, and the recipient withdraws the funds free of charge. Customers wanting to access Instant Money on USSD can dial *247# to transact. As Valentine’s Day approaches, we would like to encourage our existing and would-be customers to take advantage of Instant Money to send money to loved ones in the ‘month of love’,” stated Chibela.