4 Transfer Money Between Wallets

This feature enables the retail user having a wallet account with the bank, to initiate the payments from his wallet to the other user's wallet by specifying his mobile number without adding him as a payee. This is the easy, quick and safe method of payment, the user just needs to enter the mobile number of payee and amount to be paid.

The ‘Between Wallets’ option in the 'Transfer Money' screen enables the user to initiate the wallet to wallet transfer.

Prerequisites:

  • Transaction and account access is provided to retail user
  • The retail user and the payee has a wallet account for the purpose of transferring funds via wallet

Navigation Path:

From Dashboard , click Wallets Widget , then click Transfer Money

To transfer money between the wallets:

  1. In the Transfer Type field, select the Between Wallets option.
    The fields by which to initiate a fund transfer between the wallets appear.

    Figure 4-1 Transfer Money - Between Wallets


    Description of Figure 4-1 follows
    Description of "Figure 4-1 Transfer Money - Between Wallets"

    Table 4-1 Field Description

    Field Name Description
    Transfer From Displays the wallet as a source account from which the funds are to be transferred.
    Recipient Mobile Number The mobile number of the recipient, to whom the funds is to be transferred.
    Currency

    The currency in which the transfer is to take place.

    Currency is defaulted to destination account currency.
    Amount

    Specify the amount to be transferred.

    Balance in the wallet account is shown below for easy reference.
    Note Any note or message to be conveyed along with the transfer to another wallet.
  2. In the Requestee’s Mobile Number field, enter the mobile number of the payee.
  3. In the Amount field, enter the transfer amount.
  4. In the Note field, specify a note or remarks.
  5. Click Transfer to initiate the payment.
    OR

    Click Cancel to cancel the transaction.

  6. The Review screen appears. Verify the details, and click Confirm.
    OR

    Click Cancel to cancel the transaction.

    OR

    Click Back to navigate back to the previous screen.

  7. The success message appears, along with the reference number and transaction details.
    Click Home, to navigate to the dashboard.

    OR

    Click Add Favorite to mark the transaction as favorite.