My Money Transfer, a native Tizen app that is designed by Samsung Research & Development India – Bangalore Pvt. Ltd. ( SRIB ), was released with Samsung Z2 as a pre-installed banking app. This app is now available for all Tizen smartphones (Samsung Z1 and Z3) and can be downloaded from the Tizen store, app version is 1.0.44.
The beta users of Samsung Z1 & Z3 will get an update for this app. Samsung Z2 users will also get an update, as currently they can only access 9 Indian Banks, but then after the update they will have full access to use 14 Indian Banks.
This app enables user to access basic mobile banking services without any internet connection. You can transfer money, check account balance, check mini statment, change M-PIN anytime & anywhere.
At that moment there are 14 indian banks are involved with this app are:
- Allhabad Bank
- Axis Bank
- Andhra Bank
- Canara Bank
- HDFC Bank
- ICICI Bank
- Indian Bank
- Karnataka Bank
- Karur Vysya Bank
- Panjab and Sind Bank
- State Bank of India
- Syndicate Bank
- Vijaya Bank
- Yes Bank
- No internet required
- The app works over USSD channel which works over basic GSM mobile network
- Instant money transfer
- The application works 24 x7 and transfers money instantly using IMPS
- Multi-language support
- Application provides easy to use interface in multiple regional languages.
- Security – Two layers of Security
- a) Local App based : User has to set an application lock for authentication . All data stored in the application is secured with 128 -bit encryption
- b) Bank Provided : Two-factor authentication provided by the bank is used, where every money transfer transaction needs to be carried out by the combination of registered mobile number and M-PIN provided by the bank.
You need to register at your bank for mobile banking and also register your mobile no. with this account. The app works only with the SIM which has been registered with the bank for mobile banking. You will be charged maximum of Rs.1.5 from your network operator for every transaction ( though now all banking transaction is free in India till 30th December and will start from 1st January, 2017 and may be with a charge of Rs. 0.50 ). To perform transactions on prepaid plans, a sufficient mobile balance is required.
Note for Samsung Z1 & Z3 users
For Samsung Z1 and Z3 users, you may not be able to locate the app by a single search. In order to find the app you will need to go app Categories in the Tizen store and select the Finance option.
All banking transaction is free in India till 30th December and will start from 1st January, 2017 with a charge of Rs. 0.50 ): Source 1, Source 2
Note: It is your responsibility to check all relevant charges with your bank.