Tigo Cash customers are now able to move money from their own bank accounts into their Tigo Cash wallets and vice-versa at no cost. This facility is open to account holders in Bank of Kigali, I&M Bank, Zigama CSS, KCB and Equity Bank.
Tigo Rwanda, the only mobile operator that offers bank integration to its customers for free, scarped off its transaction charges to boost the cashless economy efforts in Rwanda.
Commenting on how the facility will benefit Tigo Cash customers, Yaw Ankoma Agyapong, the Tigo Chief Commercial Officer, said that previously Tigo Cash customers had to pay fees to transfer money between their bank accounts and their Tigo Cash wallets.
“Now, with the elimination of this fee barrier, we are making it more convenient for them to move into their wallets to pay for services, send to another person or perform many other electronic financial transactions,” he said.
Tigo Rwanda says the bank integration facility is part of the Tigo Cash new brand campaign of creating innovative, affordable and accessible products for our customers in order to allow them to live and work better.
Philip Amoateng, the Tigo Rwanda Chief Executive Officer, said that the bank integration facility was further evidence of the innovative solutions that Tigo Rwanda offers its customers.
“Tigo understands that mobile devices have a tremendously important role to play in providing strong and supportive solutions that address both communication and payment challenges. Since the launch of the Tigo Cash platform in May, 2011, we have been the leader in innovation.
Tigo was the first telecom company to launch a mobile savings product in Rwanda called Tigo Sugira and to create an international mobile money service with currency conversion. “We were the first to introduce a loan service on mobile called Tigo Nshoboza and with the launch of our payment solution for farmers, we brought financial inclusion to more than 10,000 tea farmers in Rusizi and Gicumbi District, said Amoateng.
Tigo Cash is now the largest mobile financial service in Rwanda in terms of subscribers with 1.3 million active subscribers.
How Bank Integration Works
- Register at your bank for mobile banking
- To pull money from the bank account to the Tigo Cash wallet dial the bank short code and follow the prompts
- To push money from your Tigo Cash wallet to your bank account dial *500# and follow the prompts
- Once the transaction is successful, you shall receive a confirmation SMS