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SMS Banking

SMS Banking software is an easy and convenient way of sending messages to your customer's mobile phone advising them of balances or movement information over designated accounts or to enable them to see mini statements or make template payments. It is particularly relevant where access to Internet banking is not readily available or is prohibited by cost.

Messages can be transmitted either from one or more wireless devices installed on the Bank's computer systems or by using an external service for this purpose.

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Functions:

  • Balance Advice. The system can be configured to transmit 'Daily Closing Balance' or 'Daily Opening Balance' or 'Both' as requested.
  • Multiple Movement Advice. The customer may request that they be advised of 'All debits greater than a defined amount', or 'All credits greater than a defined amount' or 'Both'.
  • Single Movement Advice. The customer may request that they be advised of 'A single debit greater than or equal to a defined amount', or 'A single credit greater than or equal to a defined amount' or 'Both'.
  • Balance Enquiry. At any time day or night the customer can query their account(s) for latest information on its balance.
  • Balance Transfer. The customer can initiate a transfer between one of their accounts to another of their accounts by simply entering the instructions over their mobile device.
  • Template Payments. Provided that the customer has created one, or more, predetermined payment templates with the bank beforehand they may use the template to initiate payments from their mobile phone. The maximum value payment that may be initiated in this way is controlled by a global setting for the overall system or by the personal customer setting if greater or less than.
  • Mini Statements. The customer may request a mini statement in which case the last three movements together with the opening and closing balances are returned to them.

Charges.

As SMS messages incur a cost to the bank these can be recovered by using the SMS charging mechanism. Each SMS message is counted, multiplied by a bank-defined cost, and the charge applied at the end of the next charging period.

 

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