NBAD launches SMS Money Transfer service

"The fact that NBAD is the first bank in the UAE to launch SMS Money Transfer illustrates our progressive mentality in adopting highly advanced technologies to better serve our customers" said Saif Al-Shehi, General Manager, NBAD's Domestic Banking Division.

"The customer will call the Call Centre Toll Free Number (8002211). The IVR will ask the customer to enter the beneficiary's mobile number, the amount to be transferred and the account to be debited," he continued. "NBAD System will verify the request and will send an SMS message to the beneficiary's mobile number notifying them of the transfer. The message will include a temporary PIN to be used on any NBAD ATM for this payment," Al-Shehi explained.

"This service comes to meet the high demand for a reliable and secure modern transactions system in an age characterized by rapid growth of mobile phone use. It also represents a part of NBAD initiatives to provide our customers with more electronic banking solutions as we strives to make banking more easier with us" he added.

Saeed Al-Shamsi, Head of NBAD's Retail Banking Group (RBG) said, "We launch SMS Money Transfer after launching LUUP mobile payment system earlier this month as we are constantly on the lookout for services that benefit our customers.

"SMS Money Transfer will allow our customers to transfer money to anywhere at anytime in the UAE as our ATM network covers all areas of the country.

"We have 184 ATM machines in the UAE, a matter which will facilitate the transfer of money through SMS Money Transfer service while LUUP's mobile-payment technology will allow users in the UAE to use their mobile phones to make secure payments and money transfers to any bank, merchant, bill payments or person-to-person (P2P) across the world," Al Shamsi added.

During the 7 months of 2007, the monthly rate of NBAD customers' transactions via ATMs reached 561,000 transactions while the calls responded by the Call Centre reached 1.7 million calls during the same period. This rapid growth showed the trust of our customers in electronic banking services provided by NBAD. Head of NBAD's Retail Banking Group said: "Launching SMS Money Transfer and LUUP's mobile-payment technology in a short span of time reflects the high capabilities of our modern electronic banking facilities, one of the best in the UAE," he concluded.