Zong launches TimePey: Mobile Banking backed by Askari-Bank

Exactly as I predicted earlier this week that TimePey is a Branchless Banking Service by Zong. Yes, TimePey is a Mobile Money Handling Service by Zong.

Today (1-December-2012) in a launch event held in Karachi Expo Center, Zong officially launches its Mobile Money Transfer service named as Zong TimePey.

Utility Bills’ Payment, Mobile Account and Funds Transfer are the three main services offered. The facility to send or receive money through Timepey shops, franchises and customer services centers is also available.

Timepey is most reliable as it is a service from Zong, the fastest growing cellular network in Pakistan, backed by Askari Bank Limited.

The services one gets through the TimePey Mobile Account are:

• Money Transfer

• Utility Bill Payment

• Cash Deposit to Timepey Account

• Cash Withdrawal from Timepey Account

• Salary Disbursement

• Mobile Balance Top Up

How to open TimePey Mobile Account ?

1. The Timepey Mobile Account can be opened and operated by anyone having a valid CNIC and an active Zong SIM.
2. Timepey Account can be opened at any Zong Franchise, Customer Service Center or Askari Bank Branch.
3. A customer can register for Timepey Account from any of the ZONG Franchises, ZONG CSC or Bank branches. All they need to have is a valid and original NARDA CNIC.
4. Registration charges are Rs. 50/-

The limits for transactions are as per State Bank of Pakistan guidelines. They are as follows:

• Level 0 account:
• Per Transaction Rs. 500
• Per Day Rs. 5,000
• Throughput Rs. 10,000 / month and Rs. 60,000 / year

• Level 1 account:
• Per Transaction Rs. 2,500
• Per Day Rs. 10,000
• Throughput Rs. 20,000 / month and Rs. 120,000 / year

The following transactions can be performed via the Timepey account:

• Timepey Account to Timepey Account
• Timepey Account to CNIC
• CNIC to Timepey Account
• CNIC to CNIC

Any person can make a Money Transfer transaction and send money to another person. The only requirement is that both sender and receiver should hold a valid NADRA CNIC and submit photocopies of their CNICs to Timepey.