Akbank launches 20 second MMT

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Akbank has developed a mobile banking application that will allow money transfers at anytime to anywhere when needed. Customers will be able to transfer money conveniently to an account or to a credit card or to an Akbank ATM through all GSM operators with the bank’s new ‘Money Transfer’ service.

The ‘Send Money’ application allows customers to to transfer money at anytime and at any location easily in 20 seconds. Akbank deputy CEO Hakan Binbasgil noted that they have developed pioneering projects, combining the technological developments with their banking experience that add convenience to the lives of their customers. Binbasgil also underlined that ‘Send Money’ application is an important example developed to this end.

Commenting on the new application Binbasgil stressed that Akbank has launched a significant innovation in the sector with ‘Mobile Credit/Loan’ application in 2005 and continued ‘We launch a brand new practice with ‘Send Money’ application that will transform money transfer habits of customers. With our new application, money transfers are now much easier, more practical and much faster. ‘Send Money’ application allows money transfers within seconds.’

Binbasgil said the customers’ needs and demands constitute the priority in Akbank’s R&D operations, added that the idea for the ‘Send Money’ application came as a result of the Bank’s customer-centric approach and practices. Binbasgil added they will continue to monitor customers’ demands and technology in order to launch new pioneering projects to the banking sector.

Akbank customers need to subscribe to Akbank’s SMS Branch first in order to send money with this application. Subscription of non-SMS Branch member Akbank customers will be completed during the application activation process.

Receivers are not necessarily required to be a member of SMS Branch in order for Akbank customers to send money to an ATM or to the bank card of Akbank or to that of another bank. Completion of the transaction will be confirmed as both the sender and the receiver will be informed by a short message in all transactions conducted through this application.

Limit for cash transfer with this application is TL 1,000 ($629) per day and TL 4,000 per month; Akbank customers will be allowed to perform as many transactions as they wish through ‘Send Money’ application on condition of not exceeding their daily or monthly limits.