UTB KORPOR (Money Transfer)
This product is also focus on increasing the financial inclusion rate. It is similar to the UTB ATM Cardless Transaction Product. Even though UTB Korpor is originated the same way as UTB ATM Cardless, there are other marked difference like:
- UTB Korpor can only be collected at a UTB Branch or Outlet.
- It has a maximum limit of Le 5,000,000.
- Recipient would be required to produce an Identity which should match with the details on the transaction on UTB system.
- Originator of the transaction cannot do more than Le 5,000,000 a day on this product.
Security features
- This is same as that of UTB ATM Cardless transaction.
Risk Management
- The maximum amount per transaction will be Le 5,000,000.
- The originator has 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.
- Recipient is required to provide a valid Identity document before the can have access to the funds at any UTB Branch or Outlet.
