Caja Laboral introduces a money transfer service via mobile phone and cash dispenser.
- Date: jueves, 14 de diciembre de 2006
With the addition of Caja Laboral, the system known as “hal cash” will now have over 6,000 terminals in Spain, and provide national coverage by brining together terminals from Banesto, Caixa Galicia, Bancaja, Bankinter and El Monte, which joined the service in the previous financial period.
Caja Laboral Directors underlined that the initiative «represents an innovation, a technological advance and a means of improving the secure instant money transfer system», with the possibility of transfers 24 hours a day, anywhere in Spain where there is a cash dispenser from one of the collaborating institutions.
Next year it is planned to extend the formula abroad, and it is already available in Ecuador through the Banco de Guayaquil, enabling immigrants to send money home via their mobile phones.
Caja Laboral Directors also highlighted the «undisputed social value» that the service provides immigrants, SMB’s «who were the first to use it for small expenses » and collectives such as the student population.
To send money, the customer instructs their bank via cash dispenser, bank branch or over the Internet via mobile phone, indicating the mobile phone number of the recipient and a password, with the latter also passed on to the recipient. Next, the bank informs the recipient of the operation, via an SMS text message containing a second password and the exact amount of money available.
The recipient then only has to visit a cash dispenser at one of the participating banks and enter the two passwords provided, their mobile phone number and the exact sum of money to be withdrawn. Next, the cash dispenser dispenses the money, up to a maximum of 600 euros, without the need for either a cash card or bank account.
Each transaction costs the sender two Euros. Also, you can specify the number of days during which the money can be withdraw, up to a maximum of 10 days. The transfer will be cancelled if there is no withdrawl in that period.