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Mobile Banking In Bangladesh Essay

1962 words - 8 pages

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 through mobile technology devices i.e. mobile phone called Mobile Banking. Benefits of Mobile Banking  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?
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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 nominated agent point of the bank. What are the necessary documents for registration?  Duly filled in KYC form (Forms are available at the nominated agent point)  Photograph of account holder  National ID or any other acceptable ID with photograph What is my Mobile Account number? Your Mobile Account number is your mobile number with an additional check digit. For example if your mobile number is 01233445566 and check digit is 3, then your Mobile Account number will be 012334455663. What type of Mobile set is required? Any type to mobile set can be used for DBBL mobile banking. How much initial deposit is required? Customer can open a DBBL Mobile Account with an initial deposit of Taka 100/- (One hundred) 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 together. None will be able to deposit unwanted money into a Mobile Account without knowing the check digit (although the mobile number is publicly known).

Where to cash-in (cash deposit)? Customer can cash-in (deposit) at any authorized agent of DBBL or DBBL Branch. How does it work?  Customer hands over cash to the Agent  Agent initiates the transaction from his/her mobile  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 or 01190016216. If the amount of money is not correct or...

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