I&M Bank Ltd Account holders now enjoy free M-banking services via Airtel Money
Nairobi, Kenya, December 9 2015… Airtel, a leading telecommunications services provider with operations in Kenya and I&M Bank Ltd have announced that customers who have linked their bank accounts with Airtel Money, will now be able to pull money from their bank accounts into their Airtel Money wallets or, push money from their Airtel Money wallets to their I&M Bank accounts automatically for free.
The offer which will be available from 9th December 2015 to 31st March 2016 will see I&M Bank customers who have linked their Airtel Money wallets to the service enjoy free access on transfer of money from I&M Bank account to Airtel Money and transfer of funds from Airtel Money to I&M Bank account.
To move funds from bank account to Airtel Money account, an I&M Bank account holder will dial *458# from their Airtel Money registered number, enter their Login PIN, reply with option number four (Mobile Money), select Airtel Money, enter recipient’s mobile number (registered on Airtel money), enter amount to send, select the transacting Bank account, confirm the transaction and submit. The beneficiary will receive Airtel Money credit alert. You will also receive a transaction alert from I&M Bank. This service can also be enjoyed from the I&M mobile banking app. To access I&M Mobile App, download I&M App (for Android and windows) from your App store. For Apple (iOS) and Blackberry download I&M Mobile from your respective App Store.
To move funds from Airtel Money account to an I&M Bank account, the customer will go to the Airtel money option, select make payments, pay bill, others, then input the I&M pay bill number 542542, enter amount to transfer, their pin, then on reference they will enter their 14 digit I&M Bank account number and submit. The customer will then receive a confirmation message from Airtel Money confirming the successful transaction.
The minimum transaction amount is Ksh. 100 while the maximum amount per single transaction is Ksh. 70,000. Cumulative limit for daily transactions is Ksh. 140,000. To sign up for Bank to Airtel Money, customers are advised to visit any of the I&M Bank Branches or dial *458#.
“The mobile phone has become a powerful tool in the daily life of our customers. We strive to provide globally admired technologies and services that give our customers easy and dependable ways to connect to the world by creating an enabling environment so they can access their finances conveniently”, Said Adil El Youssefi.
While affirming I&M Bank’s commitment in delivery of innovative and relevant mobile commerce solutions that give customers a better banking experience, Mr. Arun Mathur, CEO I&M Bank Ltd noted that there has been a steady growth in the uptake of Airtel Money service by the Bank’s customers since its launch.
“We shall continue to strengthen our business model through innovation, enhanced use of technology, automation and collaborations with industry stakeholders such as Airtel to help our customers continually enjoy banking with I&M Bank,” he concluded.
Airtel Kenya offers Airtel money services to individuals and corporate entities as an alternative payment channel and is increasingly being used by individuals across all industries.
About Bharti Airtel
Bharti Airtel Limited is a leading global telecommunications company with operations in 20 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 3 mobile service providers globally in terms of subscribers. In India, the company's product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed DSL broadband, IPTV, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G and 4G wireless services and mobile commerce. Bharti Airtel had over 335 million customers across its operations at the end of August 2015. To know more please visit, www.airtel.com
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About I&M Bank Ltd
I&M Bank is a fully fledged commercial bank in Kenya duly licensed by the Central Bank of Kenya, offering a full range of corporate and retail banking services. It is a wholly owned subsidiary and the flagship entity of I&M Holdings Limited which is listed on the Nairobi Securities Exchange. The group has a regional presence in Mauritius, Tanzania and Rwanda. Two leading European Development Financial Institutions - Proparco (French) and DEG (German) hold approximately 10.68% of the shareholding of I&M Holdings Limited.
I&M Bank, was established in 1974 as a financial institution, and has grown to become a dominant player in the Kenyan banking industry, known for its innovative range of products and services. I&M Bank deals with top international banks as correspondents such as Citibank, , Standard Chartered Bank, ICICI Bank, Standard Bank of South Africa, ABSA Bank, , Commerzbank, Deutsche Bank, Mashreq Bank, Natixis Bank, UBS, BHF Bank etc to name a few.
More information on the I&M Bank Group can be found on the website www.imbank.com