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Bank Muscat launches online banking service, available anytime, anywhere

MUSCAT, 3 May 2012 – Bank Muscat, the flagship financial services provider in the Sultanate, has launched a state-of-the-art online banking service redefining banking with convenience. The enhanced 'anytime, anywhere' online banking offers an array of service to retail and corporate customers. The simple-to-use 24/7 service available in both English and Arabic is available at https://www.bankmuscatonline.com.

Retail customers are provided with an online registration facility so that the registration can be done by customers themselves without having to fill any forms. Existing online banking customers can upgrade their access to the new system online.

Tariq Atiq, AGM – Cards & eBanking, said: “Bank Muscat is proud to widen its reach with the new enhanced online banking service offering a host of transactions on finger tips for all users. The new service spells convenience, doing away with the requirement of visiting the bank for various transactions. Driven by the latest technological features and offering a wide range of options, the enhanced online banking service presents a unique facility from Bank Muscat that lets customers bank at convenience from 'anywhere, anytime'. For people constantly on the move, the online banking service is a boon."

The online banking service facilitates fund transfers between own accounts, to third party accounts in Bank Muscat, to other bank accounts in Oman, international transfers and speed transfer to India.

The facility provides access to account details and balances relating to accounts, fixed deposits, loans and credit cards. Transaction statements are also available relating to accounts, fixed deposits, loans and credit cards.

Online bill payment facility covers utility services such as electricity, water, mobile, landline, internet, school fees and Bank Muscat credit cards. Customers can also make standing orders for one-time and recurring payments using the online banking service. They can also make requests for cheque book, linking of multiple debit cards to accounts, blocking of debit or credit cards, update of personal details and requests related to Secure Token. The new online banking service also provides mobile top-up facility for Ooredoo and Omantel service.

The new online banking service is highly secure with multiple level of validations ensured by Secure Token. To access online banking, customers need to use their user ID and password. Banking transactions are validated by a second level of authentication, either by one-time password (OTP) received on registered mobile number, or through authentication using the Bank Muscat Secure Token. Ensuring high security, the Secure Token can be used only with a PIN created by customers.

Authentication by Secure Token is necessary to carry out transfers to third party accounts in Bank Muscat, transfers to other banks in Oman, international funds transfer, speed transfer to India, third party Bank Muscat credit card payments, opening of Themaar Savings Plan, setting up standing orders for various transfers and payments, stop standing orders and update of personal details. The Secure Token prevents fraudulent online transactions as customers have to use it for all the above transactions, making online banking highly secure. 

In case customers forget their user ID or password, they can create and activate new user ID and password.

For corporate customers, the new online banking service provides total control of finance 24 hours-a-day. In addition to managing own accounts, corporates can arrange local and international transfers, bill payments, transfer of salaries, vendor payments and much more in a secure environment.

Corporate customers can also arrange an authorisation matrix for carrying out transactions, whereby initiators and authorisers for transactions can be defined.

Tariq Atiq added: “The enhanced online banking service complements the government's efforts in creating a digital society, reiterating the bank's commitment to providing electronic services which spell convenience to customers. The bank lays emphasis on competitive channels and new products to enhance service. Bank Muscat enjoys an edge in hi-tech products and services, in tune with the banking requirements of a young and tech-savvy generation. A keen perception of customer requirements has enabled Bank Muscat to develop products in line with the current and emerging needs. Continuous innovation of products has resulted in customers reaping valuable benefits."