Mobinil (EMOB.CA) announced today the launch of "MobiCash" service in collaboration with BNP Paribas bank (soon to be Emirates NBD) that enables customers to enjoy instant and secure money transfer transactions. Mobinil customers can now visit any Mobinil branch to subscribe to this new and totally secured "MobiCash" service, which provides the possibility of depositing, transferring, withdrawing money with a maximum daily limit of EGP 3000 and a maximum wallet size of EGP 5000 per month. To subscribe in "MobiCash", the customer is requested to visit any Mobinil branch and present his National ID to activate the service immediately. The customer will then receive an SMS with a personal confidential password that enables him to conduct money transfer services. To deposit money (cash-in), the customer should visit any Mobinil branch to feed his wallet. Consequently, he will have a balance of electronic units equal to the paid amount and will take a receipt of the deposited amount To transfer money from the wallet, the customer will enter the dial number of the customer he wants to transfer to, then the amount followed by his password to accomplish the operation, then an SMS is sent to the receiver of the transfer to confirm the transaction. To withdraw money (cash-out), the customer will visit the nearest Mobinil branch with his National ID and mobile handset to cash-out the amount he wants. For more information, customers may call 626. Mobinil's CEO, Mr. Yves Gauthier, stated "We are pleased to provide state-of-the-art technology to help Mobinil subscribers perform money transfer services anytime & anywhere in an easy, secure and quick way through their mobile phones. The new service is expected to satisfy an urgent need in Egypt to make money transfer services reach more segments in society and satisfy their need, making the mobile phone play a vital role as a modern tool that facilitates people's lives and contribute to Egypt's economic & social development". "The new service will also enable subscribers with no bank accounts to manage their money transfer services through their wallet in a safe and easy way ", he added. Mrs. Shahinaz Foda, Board Member, Deputy Managing Director and Head of Treasury & Wealth Management, BNP Paribas Egypt (soon to be Emirates NBD), declared: "The Egyptian community is now becoming more aware of the new technologies and electronic facilities and services due to the growing and improving infrastructure of Egypt. In this context, The Central Bank of Egypt is encouraging all banks operating in the Egyptian market to offer money transfer services. In line with this strategy, BNP Paribas is always keen to meet customers' needs through providing innovative, modern and advanced services. Therefore; we have studied for more than three years the subject service "MobiCash" with Mobinil under the supervision of the Central bank of Egypt and following its approval on all the terms, policies and regulations to offer a modern 100% safe money transfer service available to mobile phone users. This new service is proudly added to our existing electronic banking services and bouquet such as: the online banking and phone banking".
