- What services does Laxmi Bank Mobile Money offer?
Laxmi Bank Mobile Money primarily offers two major services, all through the comfort of your mobile phone:
- Transfer funds to your peer accounts
- Pay your bills
- What if I have Mero or UTL mobile phones? Am I still eligible to use this service?
This facility is currently only available to Nepal Telecom Customers at the time being. Both pre-paid and post-paid mobile NTC subscribers can avail of this service. This service shall also be made available through other mobile phone subscription lines in due course of time.
- Can I make payments to anyone?
No, the person you are making payments to, primarily must hold an account with Laxmi Bank. You can designate up to 10 account numbers and 10 bill payment numbers as beneficiaries while you signed up for the service.
- How do I know if the fund transfer has been executed or not?
You will be notified of the fund transfer or bill payment through SMS.
- How long does it take for the fund transfer and bill payments to be processed?
SMS fund transfer occurs on real time. That is, the moment an SMS is sent to the destination mobile phone number – 2002, account transaction will take place.
- There are instances of same SMS being delivered multiple times. Does that mean I end up facing multiple fund transfers in my account?
Our system will discard any repeat instructions within 24 hours as void, and not duplicate transactions on it.
- Can I change the account numbers and bill payment numbers later?
Yes. You may change the registered beneficiary accounts in later days even after you have filled and submitted the form to the bank. This shall require you to fill in an application form to do so, with clear instructions containing all the necessary details.
- Will the history of SMS fund transfer and bill payments be shown in my account statement?
Yes, your transactions will also reflect upon your account statement like any other transaction. As for the beneficiary, the transaction narration will reflect upon the phone number the fund was transferred from, and not the account number used.
- I processed to charge my NTC Pre Paid mobile phone by Rs. 500 and thus made payment of Rs. 510 for the transaction. But I received a message saying there was a syntax error. I do not understand.
You are only required to pay the recharge amount when you recharge your NTC Pre Paid mobile phone using either of our iBanking or Mobile Money facilities. You are not required to pay additional surcharge amount like when you purchase recharge cards in the local retail stores. The system will ignore any payment amounts other than Rs. 200, 500 and 1,000.
- How safe is this service? What are the security features? Is there a risk of unauthorized withdrawals on account of technology?
This service works with 3FA (3rd Factor Authentication) security robustness. This means that 1). Transaction can only be made through your mobile number, which is unique. 2). System automatically generates PIN that is sent to your mobile as a SMS. Only you will hold this security code and 3). Fund transfer occurs only on registered accounts. That means, you face no risk of funds being transferred to any other account except the ones you choose yourself.
- What steps should I take to ensure that my account is safe even if I lose my mobile phone?
First of all, please remember that transactions will be made only to the accounts and numbers you have specified, and only when instructions are sent in the prescribed syntax using the special PIN code that only you hold. So you don’t have much to worry about. However, do give us a call at any of our branches and inform of the loss, so we can immediately de-activate this facility. You may re-activate the facility once you find the mobile phone or get a new number.
- This service allows me to pay my PSTN landline bills through my mobile, but do I have to still go to NTC (Nepal Telecom) office to receive my bill amount?
No, you need not go to NTC to receive your bill amount. You may just dial 1606 to avail NTC’s IVR (Interactive Voice Response) facility and follow the instructions as asked, to avail your bill amount.
For more information, call your nearest Laxmi Bank Branch.
