Facts about *99# Banking Service | Fusion - WeRIndia

Many of you might not be aware of *99# Banking Service that eases banking transactions.

You can do your transactions easily with this service even without an internet connection.

There is no need to install any banking app but just simply dial *99# for your required banking transaction.

 

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Here are some interesting facts about *99# banking service:

• *99# banking service is a service based on USSD (Unstructured Supplementary Service Data) technology that works on GSM based mobile handsets. It is provided by NPCI (National Payment Cooperation of India).
• It is a common code and works with all telecom service providers. There is no need to pay additional charges for this even when you are using it in roaming.
•  *99# banking service is available round the clock and on holidays as well. It uses voice connectivity. Hence no internet is required.
•  *99# service can be used for financial, non-financial and value added services.You can use it for fund transfer from person to person or person to account. You can even transfer to a person using his/her Aadhar card number. The maximum limit of funds using this service is capped to ₹5,000 by RBI.

• Using *99# you can generate or change your MPIN (mobile PIN), generate OTP etc. You can even know the balance in your account and get a mini statement as well.
• – *99# is not a free service. Your telecom service provider will charge for dialing. Yet, TRAI set the maximum ceiling of ₹1.50 per transaction.
• You need to register your mobile number for mobile banking prior to use of *99# service. Even the beneficiary needs to register for mobile banking service to receive funds and for MMID (Mobile Money Identifier).
• Only one transaction per session is allowed. You need to dial *99*49# again to initiate a fresh transaction.
• It is currently available in 11 languages.
• You need to enter your bank’s 3 letters short name or first four letters of IFSC on welcome screen after dialing *99# to use financial or non-financial services.

Image Credit: Luca Viscardi / CC BY-SA 2.0

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