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Bank Muscat launches mBanking feature for international debit card usage

MUSCAT, 30 August 2016 – Bank Muscat, the flagship financial services provider in the Sultanate, in line with its 'Let's Do More' vision and focus on innovation to provide a distinct banking experience, has launched a new feature on its mobile banking application for international usage of debit cards.

Enhancing security, the new mBanking feature allows customers to disable / enable debit card for international usage. By default the debit cards are enabled for international usage. The customer can log into mBanking app and place an instant request to disable debit card for international usage on ATM and PoS. Customers can also at any point of time log into mBanking app later and place an instant request to enable debit card for international usage on ATM and PoS for all or specific countries.

These requests do not impact any ecommerce transactions on the web. Customers also have the mBanking option to enable or disable debit cards for a particular date range. Allaying card security concerns, the service requests are authenticated by one time PIN (OTP) confirmation.

Amjad Al Lawati, AGM – Cards & eBanking, said: “Driven by the latest technological features offering a wide range of options, mBanking presents a unique facility from Bank Muscat that lets customers bank at convenience from 'anywhere, anytime'. For people constantly on the move, mBanking service is a boon. Robust security features have been built into the 'trusted' mBanking application. Data exchange from this application is encrypted based on best industry standards and dual factor authentication."

The feature-rich and easy-to-use mBanking services include real time bill payment and presentment facility for Oman Mobile, Ooredoo, OIFC; fund transfers across the world via the bank's SWIFT network; speed transfer to India, the Philippines and Sri Lanka; mutual fund purchases; instant credit card bill payments; Zakat calculator and charity payments.

The international fund transfer facility has a maximum daily limit of RO 2500. The limit of speed transfer to India is RO 2500 a day and to the Philippines and Sri Lanka, the maximum daily limit is RO 300. The transaction limit for mutual fund purchases through Bank Muscat Asset Management is RO 5000 a day. Customers can make Zakat payment up to a maximum of RO 2500 a day and for charity payment, the maximum daily limit is RO 500. For each of these services, mBanking customers are allowed up to five transactions a day.

The mBanking transaction limit for transfer of funds to other banks within Oman is RO 2500 a day. The limit for transfer of funds within own accounts is RO 7500 a day. The transaction limit for transfer of funds within Bank Muscat accounts is RO 5000 a day while utility bill payments limit is RO 2500 a day.

Winner of the coveted His Majesty Sultan Qaboos Award for the Best Public eService, Bank Muscat's mBanking is Oman's preferred mobile banking service with more than 350,000 registered customers. mBanking registration is accepted for both local and international mobile number.

A host of non-financial mBanking services include loan statements, loan calculator, request of statement through email, request for changing registered email and mobile number, customer profile views and push notifications.

In keeping with the bank's focus to provide world class banking products and services, especially electronic services which spell convenience to customers, the mBanking service complements the government's efforts in creating a digital society. Bank Muscat enjoys an edge in hi-tech products and services and the mBanking services further fulfill the banking requirements of a young, tech-savvy generation.

The 'anytime, anywhere' mBanking has made banking truly mobile for the largest banking family in Oman who can bank 24/7 'anytime, anywhere'. Notably, the mBanking application works on most of the mobile phones and is customised for iPhones, Blackberry and Android phones with simple icons and menus. The mBanking application is available in both English and Arabic.