Standard Chartered Bank Botswana has launched Botswana’s first Wallet-to-Bank service.
Wallet-to-Bank is not the same as Bank-to-Wallet, a service currently available at Orange Money and BTC Smega.
Now, Stanchart has rolled out the latest generation cash deposit machines offering a host of services including payment to loans. According to the bank, the initiative is geared to eliminate the need for customers to congregate at branches to make cash deposits in line with social distancing best practice. Head of Retail Banking, Bino Rasedisa said the Wallet-to-Bank service allows customers to transfer funds from their mobile wallet directly into their account in real time.
“The seamless service has been launched with Orange Money and is at advanced stages to launch with other mobile wallet service providers later in the year.
The Wallet-to-Bank capability completes the dialogue between bank account and mobile wallet following the introduction of the Bank-to-Wallet service that Standard Chartered launched in 2018,” he said. Rasedisa added that the bank has completed phase one of the roll out of Cash Deposit Machines in 17 locations across the country. Though not new to the local market, Standard Chartered’s cash deposit machines offer a depth of functionality alongside deposits to accounts including the capability to pay towards any Standard Chartered loan either personal, auto or mortgage as an instalment or to cover arrears. “Later this month, customers will also be able to deposit into their credit cards with additional innovative features being added to the platform throughout the year,” Rasedisa said.
customers making foreign currency payments and transfers, the Bank has implemented preferential exchange rates for transactions made through the SC Mobile App and on Online Banking and Straight2Bank transactions.
The SC Mobile App is available from the Apple App Store and Google Playstore and offers over 70 banking services from within the App including the ability to open a bank account in 15 minutes, to applying for a personal loan, or updating your Know-Your-Customer information and amongst others, updating an expired Omang/Password safely and securely on your time directly from your smartphone. Commenting on the Bank’s latest initiatives, Rasedisa reiterated the Bank’s continued support in the fight against the COVID-19 pandemic;
“We have a commitment to Batswana to be responsible citizens that do what we can to support the country through these unprecedented times. “The latest services will offer safety and convenience to our customers and we will continue to promote and roll out more of such enhancements in line with our digital journey to ensure that our banking services fit the current and future lifestyle needs of our customers.”