Airtel and I&M Bank Limited have announced a partnership that will enable the bank’s customers to access to their accounts via Airtel Money free of charge.
The bank account holders 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.
The promotional offer starting from December 9th, 2015 to March 31, 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 their I&M Bank account to Airtel Money and vice versa.
“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,” Airtel Kenya CEO Adil El Youssefi explained.
The beneficiary will receive Airtel Money credit alert as well as receive a transaction alert from I&M Bank.
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 Sh100 while the maximum amount per single transaction is Sh70,000. Cumulative limit for daily transactions is Sh140,000.
To sign up for Bank to Airtel Money, customers are advised to visit any of the I&M Bank branches.
“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 said.