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Ease of account access with *99# service
Posted on: 17/Oct/2016 6:11:51 PM
In partnership with the National Payment Corporation of India (NPCI), the government of India, has launched the *99# service in the year 2012. This helps the users to know bank account details for GSM mobile phone users. They can make funds transfer to phones that are registered with banking services.
The service has been in existence in the past four years. However the banks do not seem to promote or advertise it at the time of account opening. It may be that the service detail are hinted in the tiny terms and conditions which users neglect it as a whole. Furthermore, banks intend promoting their own apps for users to access their services.
What is *99#?
It is a mobile banking service based on Unstructured Supplementary Service Data (USSD). Both NPCI and other banks and telecos are brought together for this service. The website of NPCI states that it has a complete listing of all participating banks, telcos and multi-lingual codes.
One can check account balance, mini statement transfer money with MMID, send money with IFSC and generate MPIN. Data transmission is possible with voice connectivity service and takes the form of SMS. This service does not impart any additional charge for roaming usage.
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