Warba Bank launches ‘Ex­press Share’ ser­vice

Kuwait Times - - BUSINESS -

Warba Bank, Kuwait’s best in­vest­ment bank and cor­po­rate con­sul­tancy in­sti­tu­tion, In line with its vi­sion and strat­egy to en­hance its digital ser­vices in line with the needs of the day and the ex­pec­ta­tions of cus­tomers to fa­cil­i­tate bank­ing trans­ac­tions, launched its lat­est flex­i­ble bank­ing so­lu­tion, ‘Ex­press Share’ ser­vice that en­ables the Bank’s cus­tomers to send a re­quest to have money trans­ferred to their ac­counts by any­one who has their mo­bile phone num­ber and an ATM card is­sued by any other bank.

The idea of the new ser­vice is to help the Bank’s cus­tomers to col­lect money con­tri­bu­tions of ‘Qatiyyah’ [Shared Pay­ments] re­gard­ing so­cial and fam­ily gath­er­ings, events and ac­tiv­i­ties from the peo­ple in­volved. For ex­am­ple, if a Warba Bank cus­tomer pays a bill and wants to share it with friends or fam­ily mem­bers, whether in restau­rants, chalets or oth­er­wise, through the Warba Bank Ap­pli­ca­tion or Warba Bank’s web­site, can send re­quests to those per­sons to make them pay their shares through the ‘Share Ex­press’ ser­vice. In terms of the ‘Share Ex­press’ ser­vice mech­a­nism, it re­quires the cus­tomer to ac­cess their on­line bank ac­count, go to the Trans­fer Sec­tion, and choose the ‘Ex­press Share’ ser­vice.

New oc­ca­sion

This way, the cus­tomer can cre­ate and name a new oc­ca­sion or re­quest and then choose which ac­count the money will be de­posited into and de­ter­mine the per­sons par­tic­i­pat­ing in the ‘Qatiyyah’ along with their re­spec­tive mo­bile phone num­bers and the trans­fer amount. Upon com­ple­tion of this process, an SMS will be sent to the mo­bile phones of all the par­ties in­volved. This SMS con­tains the link and trans­fer re­quest num­ber, a spe­cial code, and the re­quest de­tails. Click­ing on the link will au­to­mat­i­cally lead to the elec­tronic pay­ment gate­way where the per­son in ques­tion can en­ter the re­quest num­ber in the re­quired field and com­plete the re­main­ing steps to pay the amount due. This way, the re­quest sender can re­ceive all of their funds from all par­ties.

Haitham Al-Terkait, the Chief IT Group, said: “In ad­di­tion to the se­cure pay­ment mech­a­nism us­ing the K-Net por­tal, the ‘Share Ex­press’ ser­vice has many ad­van­tages. The cus­tomer can cre­ate more than one oc­ca­sion and re­quest pay­ments from more than one per­son. The cus­tomer may also re­mind the ‘Qatiyyah’ par­tic­i­pants to pay the amounts owed by them if they fail to do so. The ser­vice is avail­able on a 24/7 ba­sis and even dur­ing of­fi­cial hol­i­days. The cus­tomer can also use it out­side Kuwait.”

Unique ad­di­tion

Al-Terkait added, “The amounts al­lowed to be re­ceived from each payer range from KD 5, as a min­i­mum, to KD 200, as a max­i­mum. The max­i­mum amount to be re­quested per each oc­ca­sion cre­ated by the bank cus­tomer is KD 500. The max­i­mum amounts that a bank cus­tomer can col­lect via the ‘Share Ex­press’ ser­vice is KD 1000. “This ser­vice is a unique ad­di­tion to the Bank’s re­cently-launched ‘Ex­press’ bank­ing ser­vice pack­age, which will fa­cil­i­tate the cus­tomers’ bank­ing trans­ac­tions and help them to mon­i­tor their bank ac­counts eas­ily, sav­ing them time and ef­fort as they will no longer need to go to one of the bank’s branches to com­plete those bank­ing trans­ac­tions”, Al-Terkait con­cluded.

Haitham Al-Terkait

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