MTN Mobile Money Escrow is a trust account that serves an ecosystem comprising of super dealers, financial technology companies and MTN agents.
It enables a free, quick turnaround time, secure, and convenient place to purchase float to merchants and MTN mobile money agents on the following DTB Channels; i24/7 internet banking, agent banking and branch network.
How it Works?
All MTN mobile money users (MTN agents, merchants, super dealers and corporate partners) in need of MTN mobile money float, can be served through:
- Branch/over the Counter through DTB banking halls: The teller receives the customer’s money and the customer receives float onto their mobile money line. The customer will receive an SMS notification to confirm that float has been allocated to them. The branch touch point services both account holders and non-account holders.
- Internet Banking: Appropriate for customers of DTB Bank. A customer can purchase float by selecting MTN Mobile Payment through the bill payment menu on DTB i24/7 internet banking quoting their agent line for validation and subsequent payment.
- Agent Banking: DTB Agents can allocate MTN float to all MTN agents countrywide upon receipt of the customer’s money.
- Internal Funds Transfer: Suitable for DTB account holders / customers. A customer can make a request for float purchase by quoting the beneficiary account number as 0899999042 and quoting their agent line under purpose of remittance. The Bank will accordingly allocate float if the customer’s account is regular, active, and sufficiently funded.
- Inward RTGS: A non-account holder can transfer funds from their bank to purchase float at any DTB branch by quoting the beneficiary account number as 0899999042 and quoting their agent line under purpose of remittance.
Who can access this service?
- Any agent that facilities the day-to-day MTN mobile money needs
- Super dealers managing territory of agents on day-to-day basis
- Corporate partners such as financial technology companies who have regular need for float.
What does the customer require to be able to use the service?
- Registered and active MTN agent and merchant line.