Cardless ATM

This product is mainly geared towards promoting financial inclusion. Non-customers of UTB will receive cashless transaction from a UTB customer through the use of the UTB mobile app and send to a recipient’s mobile number through text message.

This feature actually enables a family member or friend to withdraw cash from your account at a UTB ATM without using a debit card. To originate this cardless cash withdrawal transaction for that person on your mobile banking app, you will require to provide their name, address, mobile number and purpose to be able to initiate the transaction. A cash withdrawal reference code is sent to the recipient phone number with name of the funds transfer originator. Upon receipt of this reference code, the recipient must go to any nearby UTB ATM with the reference code and their mobile phone. The recipient needs to enter both the withdrawal reference code and their mobile number after pressing the “Cardless Transaction” button on the ATM using one of the ATM function Keys. Please see screen below:

Once the reference code and mobile number are validated, a one-time-password (OTP) is send to the recipient’s mobile number. This will now be entered on the ATM screen requesting this password. After validation of this code, the ATM will dispense the cash to the recipient.

Security features

  • The recipient must have their mobile phone with them when collecting the cash from the ATM.
  • Both reference code and mobile number must be validated before cash is dispense.
  • A second level authentication is require by entering an OTP which the system will send to the mobile number that originally receive the reference code.
  • Transaction will be blocked if wrong OTP is used three times.

Risk Management

  • The maximum amount per transaction will be Le 400,000.
  • A mobile number cannot receive more than 5 transactions from the same originator or bank account. Which limits the maximum transaction amount per day to be Le 2,000,000.
  • The originator has the ability and access on their mobile phone to reverse a transaction if it is mistakenly sent to the wrong mobile number or it is not collected by the recipient for any other reasons.

KYC Requirement

  • All UTB customers are required to meet the standard regulatory KYC requirement before they can have access to the use of UTB Mobile App.

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