Bank Muscat, the flagship financial services provider in the Sultanate, in line with its ‘Let’s Do More’ vision and focus on innovation to provide a distinct banking experience, has launched an all-new, feature-rich mobile banking application, introducing unique new services and enhancing existing services to do more banking from anywhere, anytime.
The new easy-to-use mBanking services include fund transfers across the world via the bank’s SWIFT network; speed transfer to the Philippines and Sri Lanka; mutual fund purchases; Zakat calculator and payments and charity payments.
The international fund transfer facility has a maximum daily limit of RO 2500. For speed transfer to the Philippines and Sri Lanka, the maximum daily limit is RO 500. The transaction limit for mutual fund purchases through Bank Muscat Asset Management is RO 5000 a day. Customers can make Zakat payment up to a maximum of RO 2500 a day and for charity payment, the maximum daily limit is RO 500. For each of these services, mBanking customers are allowed up to five transactions a day.
With the introduction of the new mBanking App, the old App will cease to function and all mobile banking customers are required to update the mobile app available on the IOS, Android and Blackberry stores.
The existing user names and passwords of mBanking customers will remain valid and all data relating to beneficiaries registered for payment transactions, including utility bill payment, will be available. Additionally, data relating to payment beneficiaries registered on internet banking and branches will also be automatically reflected in the new mBanking App.
Winner of the coveted His Majesty Sultan Qaboos Award for the Best Public eService, Bank Muscat’s mBanking is Oman’s preferred mobile banking service with more than 350,000 registered customers.
Instant bill payments and top-ups for Omantel, Ooredoo and OIFC is another attraction of the new mBanking service. Customers will be able to check their outstanding bills and then make real time payments for these billers.
Customers will also have the option to set up standing instructions for future dated and recurring transactions on mobile banking for most of the key services like bill payments, funds transfer and remittances.
The new non-financial mBanking services include loan statements, loan calculator, request of statement through email, request for changing email and mobile number, customer profile views and push notifications. For mBanking registration, customers can provide a local as well as international mobile number.
Tariq Atiq, AGM – Cards & eBanking, said: “At Bank Muscat, we continuously strive to innovate to provide our customers with a rewarding banking experience with focus on convenience and security. mBanking has recorded massive success both in terms of usage and customer adoption since it was launched and we are delighted to add exciting elements to this service. In keeping with the bank’s focus to provide world class banking products and services, especially electronic services which spell convenience to customers, the new mBanking service complements the government’s efforts in creating a digital society. Bank Muscat enjoys an edge in hi-tech products and services and the new mBanking services further fulfill the banking requirements of a young, tech-savvy generation.”
The ‘anytime, anywhere’ mBanking has made banking truly mobile for the largest banking family in Oman who can bank 24/7 ‘anytime, anywhere’. Notably, the mBanking application works on most of the mobile phones and is customised for iPhones, Blackberry, Android and Java based phones with simple icons and menus. The mBanking application is available in both English and Arabic.
The mBanking transaction limit for transfer of funds to other banks within Oman is RO 2500 a day. The limit for transfer of funds within own accounts is RO 7500 a day. The transaction limit for transfer of funds within Bank Muscat accounts is RO 5000 a day while utility bill payments limit is RO 2500 a day. The limit of speed transfer to India is RO 2500 a day.
Robust security features have been built into the ‘trusted’ mBanking application. Data exchange from this application is encrypted based on best industry standards and dual factor authentication.
Driven by the latest technological features and offering a wide range of options, mBanking presents a unique facility from Bank Muscat that lets customers bank at convenience from ‘anywhere, anytime’. For people constantly on the move, mBanking service is a boon.