Barclays Kenya has launched Cash Send, a money transfer service that allow Barclays Bank customers to send money to any mobile phone in Kenya. The service allows debit card holders to send money from any of 236 Barclays Bank ATMs in Kenya. Explaining the service, Barclays Kenya Managing Director, Jeremy Awori says that users can send the money to any mobile phone in Kenya, irrespective of mobile network.
Senders will be charged a flat fee of KSh. 70 (irrespective of amount) while recipients will access the money at no cost, from any of Barclays Kenya ATMs. The recipient receives an SMS with a transaction ID and amount that has been sent to them.
The sender will also set a PIN when sending the money at the ATM. They will then need to send the PIN to the recipient. Zahid Mustafa, Head of Consumer Banking, Barclays Bank of Kenya says that the service has been intentionally set up such that the sender has to send the PIN separately from the transaction to the recipient. This, he says, protects the sender in case of sending money to the wrong recipient, and is also of benefit where the recipient has to meet a certain requirement before accessing the money (such as a delivery).
Each transaction remains live for 7 days, after which the money reverts back to the senders account if it has not been withdrawn. Senders can also call the bank to reverse the transaction.
Senders can sent amounts to a maximum of their daily ATM withdrawal limits, which varies between KSh. 30,000 and KSh. 80,000 depending on the type of account.
"We did a lot of customer research before launching the service, " says Zahid, saying that Cash Send is more efficient and safer than mobile money services. He says it eliminates the problem of recipients looking for agents who have float and the service is truly cross network.
Senders will in future have the option to send money from Internet banking and mobile banking applications.
Jeremy said the bank has a "Focus on making customers life easier on a day to day basis." The bank has seen ATM use in the country gain trust to the point where clients requested more ATM locations, including locations away from bank branches and more services beyond cash withdrawal.
Zahid says Barclays first introduced computerised banking in Kenya in 1982 while the first ATM in the country was introduced in 1990 by the bank.
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