The advent of Mobile Money has seen traditional banking giants join hands with industry players even as the service poses a threat to their core banking services. Amongst the few to embrace this is Standard Chartered Bank that recently partnered with MTN Uganda when both parties launched a mobile wallet service to support transactions between the bank and MTN Mobile Money.
This particular article explains how to transfer money from your bank account to any registered MTN Mobile Money number using both the online banking platform and its updated SC Mobile App.
But before you do so, here are a few tips for your consideration. You must have registered for Online Banking and also downloaded the SC Mobile App. Also you have to have added a registered MTN Mobile Number as a recipient.
How to add a registered MTN Number?
- Under My Dashboard>>Payments, click “add biller” and add the desired registered Mobile money number to transfer funds.
SC Mobile App
- Under the main Menu, click “Add biller and proceed to add the desired registered Mobile money number to transfer funds.
- Transferring funds from Bank Account to any MTN registered Mobile Money number.
Procedure of how to transfer funds from a bank account to a mobile money number?
- Under My Dashboard>>Payments, click “Pay Bills”
- A listing of added beneficiaries will be displayed, & Click “Pay” against the beneficiary to send funds to.
- Select Account number to transfer from, enter amount and proceed to make the transfer.
SC Mobile App
- Under the Menu bar, click on “Bill Payment”
- Select the beneficiary number from the listing.
- Select account to make transfer from.
- Enter amount , confirm transaction and transfer will be successfully processed.
However, Standard Chartered Bank warns about minimum and maximum figures involved. The minimum amount to send is Ugx.5,000 while the Maximum is Ugx.5,000,000 to only registered Mobile Money numbers.