MTN DIAMOND YELLO ACCOUNT | THE GOOD FEATURES AND ITS LIMITATIONS
MTN
is always at the center of innovative products
and services within the telecommunication sector in Nigeria. Recently,
the
South African company partnered with Diamond Bank PLC to launch a mobile
payment
system called Diamond Y’ello Account for MTN subscribers in Nigeria. The
account has some good features but also has some limitations.
According to information available on the website of
MTN Nigeria, "The Diamond Y’ello Account (DYA) offers our customers a safe
and easy means of opening and operating a full bank account from the
convenience of their MTN Mobile phone, without the hassles of tedious
documentation requirements (all registered MTN customers are automatically
eligible) or the difficulty of finding or getting to bank branches, as the
product is easily accessible through our network of Agents".
The MTN DYA as it is commonly called is meant to
make banking transactions easier for millions of it users through the process of
doing most of their financial transactions on their MTN phone.
With MTN DY Account, you can have a bank account
within a space of five "5" minutes and you will be allocated a NUBAN
account number.
HOW
TO OPEN DIAMOND Y’ELLO ACCOUNT
Dial *710# on your
MTN line and follow the prompt.
Input your name
as requested and there after select a unique pin you will need to operate the
account.
You will have to
wait for one "1" minutes for the bank to process your
application and generate your account number.
Contact Jodela Integrated Services to pay you Opening Balancen fees .. You get #500 Naira after your account is opened .
Contact Jodela Integrated Services to pay you Opening Balancen fees .. You get #500 Naira after your account is opened .
When
that is done, you can now use your account to do the following:
- You can receive money directly into your Y’ello account by providing your phone number or NUBAN (10 digits) Account number.
- Ability to transfer money from your Y’ello account to another Y’ello Account. & Y’ello account to another Bank account
- If you meet some other conditions, you will be able to apply and receive loans.
- Make purchase of airtime via your mobile number
Mobile payment has a better chance of providing
banking facilities to millions of people in the rural areas of Nigeria. Most
villages are without physical banking structure and lack even an Automated
Teller Machine to make cash withdrawals. DY account
will greatly assist in achieving their banking needs.
Making Deposit into your Diamond Yello Account
To deposit money into your DY Account, you will need
to Contact a DYA Agent like Jodela Integrated Services either via email ( admin@jodelamedia.com or Call 081-3000-3765 ).
Tell the agent how much you wish to deposit into
your Diamond Y’ello Account and give him the money.
Give the agent your DYA NUBAN (10 Digits) Account
Number to the agent.
The agent will now credit your account with the
amount you have handed over to him.
You will receive a text message that your account
has been funded with the amount you wish to deposit into your account.
Note: Check your account balance to confirm to account
has been credited.
To
view your account number, you can start by dialing *710#
Then you can select Bank Services
Select manage Account by typing 6 and send
To view your
NUBAN Account Number type 2 and send
Your Diamond Y’ello NUBAN Account Number will be
displayed.
TO TRANSFER MONEY
Dial *710#
Select Bank Service by typing 1 and send
Options 1, 2, 3 will be displayed
Select Transfer Money by typing 1 and send.
Select send to unbanked by typing 3 and send.
From the display screen, Enter the recipient’s
mobile number
Repeat the
mobile number
Enter the amount you wish to send
Enter reference
Select a four-digit secret code
Repeat the secret code
Confirm the details supplied
Enter your Account PIN
You
will receive an SMS containing the secret code and a Token (a randomly
generated twelve-digit number)
* Pass on
the Token and the secret code to the receiver.
Thereafter, the receiver goes to a Mobile Money Agent to cash out the
money.
Using
MTN DY Account is very simple. Anything you want to do, just dial, *710# and
follow the prompts by the network. For example, if you wish to make a
withdrawal from your account.
Visit Diamond Y’ello Account agent ( odela Integrated Services ) or any agent close to you
and inform him how much you wish to cash-out. Follow the other instruction to
withdraw amount from an agent.
Await a confirmation prompt from the system (sent by
the agent to your phone) to approve cash withdrawal.
* Proceed
to approve cash withdrawal once confirmation prompt is received.
* From
your Phone
* Dial
*710#
* Options
1,2,3 will be displayed
* From
the display screen, select Bank Service by typing 1
* Select
Cash Withdrawal by typing 3 and send.
* Select
from Agent by typing 1 and send
* View
the transaction pending approval from the list
* Select
Approved by typing 1 and send to approve cash withdrawal
* Enter
your account PIN
* You
will receive a message confirming the success of the cash-out along with your
remaining balance after the transaction.
* Receive
the cash from the agent
And whenever you feel that your pin is compromised,
you can change it by:
* Dial
*710#
* Select
Bank Services by typing 1 and send.
* From
the options displayed choose Manage Account by typing 6 and send.
* Select
Change Account PIN by typing 1 and send.
* Enter
your current account PIN
* Enter a
new account PIN
* Repeat
the new account PIN
* You
will receive a confirmation upon completion.
LIMITATIONS
OF MTN DY ACCOUNT
You don't need to
visit a bank before you open an account but in reality, that will only open a
level one account for you. This level of account has a lot of limitations on
both daily withdrawal and maximum available balance. To open a level two and
three DY Account, you will need to Contact a DYA Agent ( JODELA INTEGRATED SERVICES ) for
documentations.MTN DY Account holders do not have ATM cards for their accounts. This means that they are cut off from online transactions or withdrawal via ATMs.
No comments:
Post a Comment