Kampala, Uganda — In a bid to reach the underserved and unbanked population, Equity Bank Uganda has today (Feb.02) launched account opening services on the phone using the USSD *247# code, furthering its commitment to invest in the financial deepening and inclusion in the country.
The move, officials said, will also increase access to mainstream banking services and make it convenient for people to bank since users will not be bothered to visit the bank branch.
The USSD code is user-friendly and works on all phone types and requires no internet to work.
The bank’s Executive Director for Commercial Banking services Michael Matovu Sseguya said, "Equity Bank is always seeking innovative ways of offering integrated financial services that socially and economically empower our communities and customers. We are confident the public will find the platform convenient and easy to use."
The services available on the platform include balance inquiry, access to mini statements, funds deposit, money transfer from Equity to mobile wallets or between Equity accounts and more.
The platform also enables a customer to withdraw money from their account through the EquiDuuka or from the ATM or any Equity branches.
It has been developed keeping in mind the potential of mobile and digital banking and the need for small value immediate remittances.
For one to open the account under this new service, they will need a valid national ID and a registered personal mobile phone number.
The bank account will be active immediately and the type will be an ordinary savings account with no monthly charges.
