MTN, Standard launch cellular bank

[rpm]

http://www.mybroadband.co.za/nephp/?m=show&id=558

 

[Gooku]

I used ABSA's cellphone banking few years back ,before I had ADSL and Mywirless
The problem is it takes 3 or 4 sms to complete a transaction,if one uses it often ,it becomes an costly exercise - and you will only realise it if you go through your itemised billing carefully

I wonder how many sms does Standardbank cellular banking take to do a transaction.....
I bet ,it is NOT written anywhere in the manual.................

 

[Insider]

All SMS required to do transactions and calls to the helpline will be free.

 

[stoke]

<Q>A balance enquiry costs R1 (the SMS itself is not charged), a person-to-person payment costs R3 and a cash withdrawal (using a supplied ATM card) costs R5. Wharton-Hood says this is far cheaper than branch charges.</Q>

Ya well no fine.

<Q>The bank account number is the cellphone number, with the addition of a control digit.</Q>

Um - wanna guess my account number ? You get 10 guesses.

<Q>When accessing the account on the Internet, all logins are through the cellphone, not through the Internet browser, eliminating the possibility of keystroke logging and other security threats.</Q>

/me wants to get a better understainding of that one.

Oh well - another product. Each product failing dismally to give us what we need - charge-free banking.

 

[jarr]

well, i'm not with mtn, but what bothered me a bit when i read the article was:

...giving Standard Bank access to MTN's subscriber base...

i hope that means "potential" access, and not that standard bank have been handed mtn's client data base to do with what they like, so to speak...

just the paranoid side of me thinking out loud