MTN Money Escrow enables purchase of float across KCBU Branch network. It offers merchants, and MTN money agents a safe, secure, and convenient place to purchase and liquidate float for their business and personal needs. The MTN trust account serves an ecosystem comprising super dealers, territory dealers, financial technology companies, MTN money agents and walk-in customers.
MTN money users (agents, merchants, super dealers, and corporate partners) in need of MTN money float will access the trust account services in four main ways:
The cashiers will receive the customer’s money and avail float on their mobile money line. The customer will receive an SMS notification to confirm that float has been allocated to them. The branch touch point will service both account holders and non-account holders.
Suitable for customers of KCB Bank. A customer will make a request for float purchase by completing the bank’s funds transfer template or by issuing instructions through indemnified e-mail. The Bank will accordingly allocate float if the customer’s account is regular, active, and sufficiently funded.
Account holders of KCB Bank can issue instructions for float purchase through e-mails maintained as part of the account holders’ operating instructions at KCB Bank.
A non-account holder can transfer funds from their bank to purchase float at KCB by quoting the beneficiary account number as 2310412546 and quoting their agent line under purpose of remittance.
Suitable for customers of KCB Bank. A customer will make a request for float purchase by selecting MTN Escrow through the iBank float purchase menu quoting their agent line for validation and subsequent payment.
