PRODUCT DESCRIPTION

SMS banking services are operated using both push and pull messages. Push messages are those that the bank chooses to send out to a customers mobile phone, without the customer initiating a request for the information. Typically push messages could be either Mobile marketing messages or messages alerting an event which happens in the customers bank account, such as a large withdrawal of funds from the ATM or a large payment using the customers credit card, etc

Another type of push message is One-time password (OTPs). OTPs are the latest tool used by financial and banking service providers in the fight against cyber fraud. Instead of relying on traditional memorized passwords, OTPs are requested by consumers each time they want to perform transactions using the online or mobile banking interface. When the request is received the password is sent to the consumers phone via SMS. The password is expired once it has been used or once its scheduled life-cycle has expired.

Pull messages are those that are initiated by the customer, using a mobile phone, for obtaining information or performing a transaction in the bank account. Examples of pull messages for information include an account balance enquiry, or requests for current information like currency exchange rates and deposit interest rates, as published and updated by the bank.

The banks customer is empowered with the capability to select the list of activities (or alerts) that he/she needs to be informed. This functionality to choose activities can be done either by integrating to the internet banking channel or through the banks customer service call centre.

Typical push and pull services offered under SMS banking

Depending on the selected extent of SMS banking transactions offered by the bank, a customer can be authorized to carry out either non-financial transactions, or both and financial and non-financial transactions. SMS banking solutions offer customers a range of functionality, classified by push and pull services as outlined below.

Typical push services would include:

Periodic account balance reporting (say at the end of month);
Reporting of salary and other credits to the bank account;
Successful or un-successful execution of a standing order;
Successful payment of a cheque issued on the account;
Insufficient funds;
Large value withdrawals on an account;
Large value withdrawals on the ATM or EFTPOS on a debit card;
Large value payment on a credit card or out of country activity on a credit card.
One-time password and authentication

Typical pull services would include:

Account balance enquiry;
Mini statement request;
Electronic bill payment;
Transfers between customers own accounts, like moving money from a savings account to a current account to fund a cheque;
Stop payment instruction on a cheque;
Requesting for an ATM card or credit card to be suspended;
De-activating a credit or debit card when it is lost or the PIN is known to be compromised;
Foreign currency exchange rates enquiry;
Fixed deposit interest rates enquiry.

Form ID.		Account type	SMB SMS Alert
Details
Last Name		Email
Phone No. (office)		Phone No. (home)
Please input below the amount you require an alert for e.g N500 and above
Select one	Credit only alert Debit only alert Both
Address
Credit Limit		Debit Limit
Account Domiciled		Branch

I Wishto request for a transaction alert service to be linked to my account(s) stated above
I understand the information contained here-in and agree to be bound by the terms and conditions governing the operation of this scheme..