Monday, December 12, 2016

Money transfer via SMS without Internet

​Various methods of transfer of money without handling cash (e-wallets, NEFT, online banking etc) are being discussed now after demonetisation of 500/1000 rupee notes. I had obtained mobile banking facility using only SMS on ordinary phone ( no internet needed) some three years ago. But could not try it out for want of others - recipients having similar facility. For some reason this method, though very easy to use, has not caught up at all. I do not know why?

On 18 October 2013 at 09:36, Padmanabha Vyasamoorthy <> wrote:
Sometime back I had mentioned ab
out the simplicity of mobile banking,
rather money transfer using SMS.

I have now obtained my MMID for mobile banking. The account is in
Syndicate bank.
All that is needed from my side is a mobile phone with simple SMS
facility, MMID & password linked to bank account. I can transfer money
to anyone if I know his Mobile number and similar MMID linked to his
bank account. Such a person can send money to me too!

Now the problem is, though simple, not many users of mobile / bank
accounts are aware of this. I could not locate any one with MMID to
whom I can transfer money, even to try it out?

If any member has a Mobile and MMID I will send a small sum as a
learning exercise and the recipient can keep it to himself or donate
it to someone he likes.

It is really a mystery that with such a huge mobile density in India,
Banks have not shown interest in popularizing this service.In
Syndicate Bank Picket Branch only the manager has this facility. The
official in charge of accepting application for mobile banking filled
in her application too, just to learn how to handle this new service!!

Dr P Vyasamoorthy
30 Gruhalakshmi Colony Secunderabad 500015 Ph 040-27846631 / 949080427

Dr P Vyasamoorthy
30 Gruhalakshmi Colony, Secunderabad 500015 Telangana
LL 040-27846631 / Mobile: 9490804278

I stopped contributing to Merinews and Ezine as they are encouraging only commercial posts.

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