Debesther: i am very much interested in this topic,i beg guys make una talk

Rexyl: Let's Discuss First Bank Mobile Money(first Monie)

PLs let us hear from you if you have been using this product. They have different categories of agents to help facilitate transactions. You do not need to open account with them to use the service, Everything is processed through your mobile phone and the mobile number becomes your mobile account. You can send money to anyone with mobile phone even if he has not registered, and also very easy to receive cash into your acct or by hand at the First Bank ATMs or from their agents. Aside this you can pay your bills and top-up your mobile credit. Now,

What it takes to be an agent and what makes the categories?

What is the agent's commission?

What is the transaction Charge related to each direction of the transaction?

Let's hear from you

you just beat me to it, i was about opening a thread on this subject matter this morning

FBN sent me a message saying that from 11th of feb 2013, all transfers to other banks below 500k will attract #105 while above will attract #150. it was 47 naira before now across board.

i have not gotten any similar notice from my other banks, which leads me to believe that it is not an across board directive from the CBN.

FBN is trying to set a precedence that will be worse than the ATM saga, we are talking about above 150/105naira multiplied by total transactions per day, this is absurd.

the CBN Gov. convinced Nigerians that the Need to go cashless was permuted to reduce cash transfer risk and logistics charges including cost of printing notes, FBN this month has turned it into an avenue to extort customers.

the internet infrastructure we use to facilitate those transactions are being maintained in part by both the customers and the bank.

this defeats the cashless policy of the CBN and it is more worrisome why the CBN boss is keeping quiet.

if we save money for the govt for printing less cash, cash handling charges, security etc, the least they should do is to charge less on those transactions.because we bear a brunt in the internet infrastructure

for a transfer from an FBN maintained current account, you are charged COT per tramnsaction, charged alert on the transaction(which i have noticed in recent time is higher than other banks), charge you inter bank transfer rate, charge you VAT on COT and sundry vats.

amidst this jamboree on your account, they hardly pay a reasonable interest on savings account.

what the new policy entails is that for every 1,000 naira you transfer from your FBN maintained current account to another bank (after paying for your internet),
you lose another

173 naira,above 10% of my transaction worth? God help you if you transfer above 500k. Now if you dare transfer 1million naira or 500k on POS, kai! your account will squeeze face immediately.

what good reason does first bank have for these arbitrary charges? cost of cash handling over the internet? cost of printing e currency?


imagine charging me VAT on COT? VAT on the money you are making from my money shouldn't it be the other way round?
why not charge VAT on SMS charge?

FBN are the latest thieves in town, im putting those accounts on hold pending when those Agbero in Suit realize that making money is not easy in Naija.

the most annoying of it all are salary accounts where you have to transfer to 50staff at a time, the bank charges alone is enough to hire an extra staff. Nonsense!!!

Rexyl: Let's Discuss First Bank Mobile Money(first Monie)

PLs let us hear from you if you have been using this product. They have different categories of agents to help facilitate transactions. You do not need to open account with them to use the service, Everything is processed through your mobile phone and the mobile number becomes your mobile account. You can send money to anyone with mobile phone even if he has not registered, and also very easy to receive cash into your acct or by hand at the First Bank ATMs or from their agents. Aside this you can pay your bills and top-up your mobile credit. Now,

What it takes to be an agent and what makes the categories?

What is the agent's commission?

What is the transaction Charge related to each direction of the transaction?

Let's hear from you

Gudwil: I have applied to be an agent of FirstMonie mobile money but I'm yet confirmation. After the confirmation there is going to training. Though I have started to do online research about mobile money generally.

SimonAndal:
_
Wicked!

gonzaga: Hello all, I am personally pleased that someone is bringing up this topic. I am going to address this issue from an informed perspective as this is currently my desk in the bank. Mobile money generally means; banking on your mobile phone. It allows you to send money, receive money, do airtime top-up, bill payments and bank transfers. These functionalities listed are for Ecobank mobile money.

The agents are all those who offer mobile money services outside the banking halls. They could be supermarkets, pharmacy, recharge card vendors etc. The main transactions an agent performs are; wallet cash-in (deposit), wallet cash-out(withdrawal) redeem(unregistered user cash-out). As an agent, you earn commission for all the transactions you do on Ecobank mobile money. Mobile money is available to all those who own mobile phones at no registration cost.

To register for Ecobank mobile money, you dial *326# on your glo, etisalat or airtel. It will take you through an interactive registration process. Once registered, you can effectively do the listed.The fastest selling functionality on Mobile money generally is the air-time top-up. Airtime top-up allows you to top-up your line or send airtime to any other line. Very soon, card production by telcos would greatly reduce and eventually frizzle out. This they say will help them in reducing current call tariffs. This means that all those currently engaged in recharge card business must as a matter of urgency, look for ways to become agents. This will allow them to have a business when recharge card selling becomes obsolete.

If you imagine how the=N=20 call centers frizzled out as soon as the per sec billing was turned on, you will have an idea of what will happen to those currently engaged in recharge card business when mobile money eventually takes root. The agency concept is another way employment can be generated as it affords agents the opportunity to earn commissions.

For further enquiries on Ecobank mobile money,clarifications or questions, do feel free to call me on 07045304537.

The future is mobile, don't be left out!!