“The MTN Mobile Money ATM cash out service is a great addition to the Mobile Money platform since it adds another level of convenience now that your phone will act as the plastic electronic ATM card,” said Ernst Fonternel, MTN Uganda Chief Marketing Officer on Thursday.
To access the ATM cash out service, a customer undergoes an easy two part process.
On the phone, the customer has to dial *15#, Select ATM withdrawal under the menu, select 1 to generate a TIN code (4 digit number), and then enter the mobile money pin.
“You will then receive your TIN code, which you will use at the ATM machine to withdraw cash without a card.
When the customer goes to the ATM machine, the customer will select Mobile Money, and then select MTN Mobile Money, enter their phone number, the amount they wish to withdraw, and their TIN code to withdraw cash. It’s that simple,” said Fonternel.
According to the central bank, Mobile Money transactions totaled Ushs11.7 trillion in 2012, which was a 211 percent increase since 2011. MTN continues to lead Mobile Money in Uganda with almost 5 million registered users since their launch in 2009.
“MTN Mobile Money is making a significant contribution in realizing real achievements in respect of financial inclusion in Uganda, and we are proud to spearhead a new dimension in Mobile Money convenience through partnering with banks to continue giving Ugandans world class and universal access to Mobile Money services,” Fonternel said.
He welcomed the partnership with Crane Bank, saying that it was yet another milestone to the success of MTN Mobile Money in Uganda.
Crane Bank General Manager A.R Kalan said Crane Bank is a leading private sector bank known for its innovative and customer friendly products meant for masses. Crane Bank is ranked No.1 amongst the indigenous Banks in Uganda.
The financial year 2012 was a land mark year for Crane Bank having achieved its highest profit levels since its inception which was Ush.103.27 Billion and with a Capital & Reserves of Ush.259.8 Billion as at 31 December 2012.
Crane Bank, which has been serving the nation for over 18 years, is continuously expanding its geographic footprint, with present network of 34 Branches and over 600,000 customers.
Crane Bank will by the year 2014 planning to increase its Branch network in Uganda to 50 Branches and has installed a wide network of 96 ATMs across Uganda, which includes both onsite and offsite ATMs. The entire ATM network can be used by the MTN customers for mobile money.