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NBM Introduces Cardless Withdrawal Service

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Cardless Banking

National Bank of Malawi (NBM) plc has introduced a Cardless Withdrawal service to enable customers and non-customers withdraw money at any of the banks Automated Teller Machines (ATM) without a card.

 Speaking to journalists in Blantyre on Thursday, the bank’s head of e-Banking William Kaunda said the development is in line with listed banks vision to enhance its customers experience through provision of innovative products and services.

He said; “The Cardless Withdrawal service brings in convenience to the customer in an event where the customer has forgotten or lost their card but needs to cash out money from the ATM. This service thus comes in handy to assist that customer.

“The platform also enables customers to remit some funds to people that are not closer to you but have access to an NBM ATM. In addition, it enables a customers to be up to date with technology.’’

On his part, the banks Branchless ecosystem manager David Tamula said the service allows users to generate a token through the banks mobile application platform, for either themselves or a beneficiary.

He said the token is valid for 48 hours, but a customers, but a customer is not limited to the number of tokens generated per day. A token has a maximum limit of K80,000.

To initiate a withdrawal, the account holder or beneficiary is required to click on the Cardless withdrawal option at any of the bank’s ATM and follow instructions.

To request a Cardless Withdrawal, customers are required to utilize their Mo626Digital+ application which is available for download on Google Playstore and Apple Appstore.