UTB Self Redeem


As UTB is determined to ensure that its customers and non-customers has 24/7 access to its financial services, this product has been developed to ensure that if UTB ATMs or Branches are out of service, customers can still have access to redeem their UTB ATM Cardless transactions and UTB Korpor through the UTB Mobile App.

All UTB Mobile App users will have access to the UTB Self Redeem product and be able to accept third-party reference code that was send as UTB ATM Cardless Transaction or UTB Korpor to a recipient. This reference code and mobile number will be given to a UTB Mobile App user in exchange for physical cash. If the Reference Code and Mobile number are validated, an OTP will be sent to the recipient which will be given to the third-party UTB Mobile App user to complete the transaction. The amount tied to the reference code will be automatically credited into the UTB Mobile App user’s account.

Security Features and Risk Management

  • An OTP is required to complete the transaction which is sent to the recipient who is the owner of the reference code.
  • A maximum of five self-redeem transactions per day will be allowed.
  • The amount of cash in circulation will be reused during this transaction and the cashless transaction reference code amount will be credited to a third-party UTB account.

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