Bharat Sanchar Nigam Limited (BNSL) has, in association with the State Bank of India, launched ‘SBI MobiCash’, a prepaid virtual mobile wallet that enables users to carry out banking transactions on their mobile phones. Announcing the launch of the wallet at a press conference here on Wednesday, R. Mani, Chief General Manager, BSNL Kerala circle, said one of the main features of the wallet is that it can be accessed through all types of mobile handsets, be it smartphones or normal feature phones.
The BSNL-SBI MobiCash mobile wallet service facilitates banking transactions including deposit and withdrawal of money, fund transfers (wallet to wallet, wallet to SBI bank account, wallet to other bank accounts), mobile recharge (BSNL prepaid), and bill payment (BNSL landline and postpaid). Though the bill payment and recharge facilities will be initially limited to the BSNL only, in future other utility bills like electricity and water bills will be introduced.
Users can deposit cash with BSNL retail outlets and can withdraw cash from his or her wallet account at these outlets.
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The wallet service is available through smartphone application (for android users and I-phone users) or through USSD short code (Dial *511#) or through call or SMS (51516 for BSNL users and 9418399999 for mobile users of other operators).
The mobile wallet number is the mobile number of which the service has been registered. A transaction fee of 2 to 3 percent, and a maximum of ₹120, will be deducted for the transactions.