If you are a Standard Chartered Bank customer, then the information in this written piece will absolutely interest you. It shows exactly how you can go about transferring money from the popular money transfer service, M-Pesa, right into your bank account with total ease and from the very comfort of your home and at any time of the day that you choose to make your translation.
There is no gainsaying that, in the contemporary world, technology has made many things so easy to do. The development of mobile applications by tech enthusiasts has allowed for the seamless integration of different platforms that now give the ordinary man unbridled ability to carry out online tasks including financial transactions. Whereas a long time ago, people needed to queue up in banking halls to deposit money, you can now do the same thing from your bedroom. M-Pesa is one of those online services that have made financial transactions an absolutely easy thing to do.
What Exactly Is M-Pesa?
For the record, M-Pesa is a mobile phone-based service used for money transfers as well as other payments and micro-financing services. The service, which is owned by the Vodafone Group plc, was launched in 2007 by Vodafone Group plc and Safaricom which happens to be the largest mobile network operator in Kenya.
The M-Pesa money transfer service has grown in leaps and bounds since it was launched and it has even expanded its reach to other countries, including Mozambique, Tanzania, DRC, Ghana, Lesotho, Egypt, South Africa, and Afghanistan.
The PayBill Number To Use In Transferring Money To Standard Chattered Bank
To transfer money using the M-Pesa money transfer service to a Standard Chartered Bank account, you need a PayBill number. For the record, a PayBill number is a cash collection service that allows different banks or financial organizations to collect money from their customers through the M-Pesa money transfer service. So, for you to transfer money to any bank using M-Pesa, you need to know what the bank’s PayBill number is.
As expected, all the banks listed on the M-Pesa service have their own PayBill numbers that their customers can use for transactions. For Standard Chartered Bank, the PayBill number to use is 329329. You can use this PayBill to do more than just transferring money; you can also pay utility bills, rent, make statutory payments, and top up phones, among other uses.
The Steps To Take To Transfer Money From M-Pesa To Standard Chattered Bank
To transfer money to Standard Bank through M-Pesa, all you need to do is follow the following steps:
- Go to the M-Pesa Menu on your Safaricom app
- Once there, select the Lipa na Mpesa option
- Select the PayBill option afterward
- After selecting the PayBill option, space will open up for you to insert the PayBill Number. Just insert the Standard Chattered Bank PayBill number, which is 329329, into space and press enter.
- After inserting your PayBill number, you will be asked to insert your Standard Chartered account number in the space provided. Just type it in and press confirm.
- After you have entered your account number, go on to insert the amount that you wish to send to your Standard Chartered Bank account.
- When you have typed the amount you wish to send, you will be asked to enter your PIN. Just insert it and then press send.
- Carefully confirm if all the details you have provided are indeed correct on the transaction confirmation message you will receive before finalizing the process. Take note that if you notice an error, you can stop the transaction by pressing any letter or number within 25 seconds.
- A transaction confirmation message will be sent to your phone from both M-Pesa and Standard Chartered bank if everything is entered correctly, confirming that your account has been credited with the deposited amount.
You Can Also Make Transfers To Standard Chartered Bank With Pesalink
There is no doubt that the M-Pesa service is a great money transfer service that goes a very long way to help you make financial transactions. However, there is another service that also comes in very handy when it comes to money transfers and it is Pesalink.
For the record, the Pesalink service is a real-time 24-hour digital payment solution that enables you to receive funds from other banks straight into your Standard Chartered Bank account or any other bank you use. This service allows for bank-to-bank transfers at a low cost.
How To Use Pesalink
There are different ways to use this service:
A. Send To Phone
The interesting thing about Pesalink is that you can simply send funds to any bank account using a phone number. To carry out this transaction, just follow the following steps
- Select Pesalink on your bank’s menu
- Select the ‘Send To Phone’ option from the list
- Insert the ‘Phone Number’ of the recipient into the space provided for it
- Select ‘Bank Name’ from the list showing different banks
- Enter the amount of money that you want to transfer
- State the reason why you are making the payment
- Carefully look through the details that are displayed on the page, ensuring that the phone number and bank name are correct. Also, note that the recipient’s name will be displayed if everything is correct.
- After the transaction, you will get an SMS confirmation notification from PesaLink stating the name of the recipient, the amount sent, and the bank’s name.
B. Send To Account
To transfer funds via Pesalink using ‘Account’, just follow the following steps;
- Go to your bank menu and select PesaLink
- Chose the “Send To Account” option from the PesaLink menu
- Insert the “Account Number” of the recipient
- Select the bank you are transferring to from the provided list
- Insert the amount of money you want to pay
- State the reason why you are making the payment
- Carefully go over everything and confirm the details displayed on the page
- You will get an SMS confirmation notification from the bank stating the recipient’s account number, as well as the bank name, the amount sent, and the reason for payment.
How To Activate Pesalink
Apparently, you need to register on Pesalink to be able to use the service. To register for the service, just do the following:
- Dial the code *522#
- Enter a preferred PIN in the space provided. Make sure you save or memorize the PIN after setting it up
- Select the ‘Cash Transfers’ option
- Chose the PesaLink option and then proceed to Register
- Proceed to confirm your account to be linked to your mobile number.
- You will get an SMS from PesaLink confirming successful registration