Many of us pay our utility bills or transfer cash through Mobile Accounts as they have emerged as one of the most safe and convenient methods ofcarrying out such transactions. However a number of users are still unaware of the wide range of products and services that Mobile Accounts offer. Scroll down to read a compilation of the five banking related services that have been made possible by Mobile Accounts but are rarely used. Let us know in the comments section below, how many of them have you used?

Being the first and the largest branchless banking service in Pakistan and a trendsetter for many innovative products, we will take Easypaisa as an example which is also the winner of ‘Best Mobile Money Service Award’ in the world at GSMA Mobile World Congress held in February 2014 at Barcelona, Spain.    

  1. Life/Accidental Death Insurance

Khushaal Bema is an insurance product offering for Easypaisa customers through which all Mobile Account holders can get Life and Accidental Death insurance of up to PKR. 1 Million uponmaintaining a minimum balance of only PKR. 2,000 in their Mobile Accounts. This free service has no subscription charges and the amount of insurance coverage increases with the amount saved in Easypaisa Mobile Account.

 

  1. Health Insurance

This innovative product has been designed to provide health insurance facilities to low income groups of our society. Easypaisa’sSehat Sahara micro insurance can be purchased from any one of the 50,000 Easypaisa shops across Pakistan only for PKR 500 that covers all medical expenditures of up toPKR 50,000 including hospitalization and medicines.

 

  1. Savings

It takes just one rupee to subscribe to Easypaisa’sKhushaalMunafa, a savings product that allows Easypaisa Mobile Account holders to earn up to 9% returns on savings in their Mobile Accounts.What really makes this savings product stand out is that the minimum balance requirement is only PKR 2000 and the money isn’t locked in for a preset amount of time, features which are not offered by anyone else in the market. Based on the plan that customers chose to subscribe to, KhushaalMunafa offers extremely competitive rate of return to customers over their savings.

 

  1. Interbank Money Transfer

Easypaisa is currently the only service which is interoperable with the existing banking ecosystem. By connecting itself to the 1-link switch, Easypaisa allows you to transfer moneybetween your Mobile Accountand any other bank in Pakistan. This innovative service offers an alternative to walking into a bank branch to deposit cash.

 

 

  1. ATM Cards

That’s right, Easypaisa Mobile Accounts offers ATM cards that can be purchased from any Easypaisa shop, Telenor sales and service centerorTameer Microfinance bank branch. This debit card is linked to your mobile account so you can access your funds with convenience and safety. The Easypaisa ATM card works on any 1-link enabled ATM across Pakistan.