Bank launches cell phone banking service

Lemohang Rakotsoane

MASERU – FIRST National Bank Lesotho on Tuesday launched a new service that will allow clients to access banking services through their cell phones.

FNB Deputy CEO Mokhachane Mopeli said the innovative service was in response to clients’ request for convenient banking services.

Mopeli said the new platform will ensure we have a financially inclusive nation.

“We have realised that a lot of our population is not financially included and do not have access to financial institutions,” Mopeli says.

“However, we realised that the majority of our people own cell phones even if they do not have bank accounts.”

Mopeli said FNB saw it fitting to extend its services and put them in the palms of users even in areas where banks are not physically available.

“With cell phone banking we are making it easier for users to access our banking services without having to incur a lot of costs like transport, as all one needs is a cell phone of any type to use the facility,” Mopeli says.

He added that cell phone banking allows one to carry out transactions when buying electricity, airtime or checking balances, making payments or sending money.

“The facility gives its users a chance to send money even to those who do not have accounts. They can just use their phone numbers to receive the money,” Mopeli says.

’Manthatisi Phomane, the Marketing Manager, said one of the biggest advantages of the platform is convenience.

“It allows one to transact anytime, anywhere without having to allocate a day or several hours to go to the bank to get assistance,” Phomane said.

Mopeli said the e-wallet feature of cell phone banking is designed in a manner that is user friendly and safe.

“A receiver of the money receives a pin which is only valid for 30 minutes and then expires but one is able to request a new pin. This is a safety feature,” Mopeli said.

He added that there is an option to have a pin that will expire after four hours that caters for the elderly or those who take time to get to the Automated Teller Machines (ATMs).

Money received through the e-wallet can only be withdrawn from FNB ATMs.

To be eligible for cell phone banking one needs to have an account with FNB however, to receive money through e-wallet one only needs their cell phone number.