Warba Bank launches ‘Express Share’ service
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.
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.”
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.