Connect with us

Hi, what are you looking for?


Standard Chartered unveils card-less ATM withdrawals via mobile app

The Bank is targeting to migrate over 80 percent of transactions to non-branch channels by 2020/FILE

NAIROBI, Kenya, Sep 20 – Standard Chartered customers can now withdraw cash from Automated Teller Machines (ATM) without using cards.

The card-less withdrawal function has been introduced on the mobile banking application following a successful piloting phase and has been enabled on the Bank’s entire newly upgraded ATM network.

David Idoru, Head of Retail Banking, said to access cash, a customer will be required to generate a voucher number via the StanChart mobile banking App, which will then be inputted into the ATM to authorise the withdrawal.

Customers can either withdraw for themselves or they can generate a voucher to a third party who can withdraw the cash from any Standard Chartered Bank ATM at no cost.

“As soon as a client generates a voucher it is valid for two hours. If the Voucher number is not utilised within the two hours, the transaction is reversed and the amount credited back to the client. The service will attract the same charges as the current ATM Debit card withdrawal charges,” said Idoru.

Standard Chartered has spent over Sh200 million to upgrade its entire ATM network converting the machines to advanced Cash Deposit Machines (CDMs).

The rollout of the machines is part of the ‘Digital by Design’ business model, through which Standard Chartered Bank Group is investing $1.5bn to revamp its technology globally over three years.

The Bank is targeting to migrate over 80 percent of transactions to non-branch channels by 2020.

Through the ‘Digital by Design’ business model, the Bank is harnessing technology to enhance banking experience while at the same time improving cost efficiency.

During the rollout of the first phase in 2016, the Bank unveiled a mobile app, a revamped online banking platform and Cash Deposit Machines.

Advertisement. Scroll to continue reading.
Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...