MBANK Launches MoneySend Service for Mastercard Transfers

MBANK has introduced MoneySend, a new service enabling customers to transfer funds to any Mastercard, directly from the bank's mobile application. This feature aims to simplify cross-border and domestic transactions for its users.

The MoneySend service allows for transfers to Mastercard cards issued anywhere in the world. To initiate a transfer, users only need the recipient's card number, eliminating the need for bank account details or specific bank information. The service supports transactions in four currencies: Kyrgyzstani Som (KGS), Russian Ruble (RUB), US Dollar (USD), and Euro (EUR).

To use MoneySend, customers navigate to the "By card number" or "Mastercard Transfers" section within the app. They select the debit account, enter the recipient's card number, choose the currency, and specify the transfer amount. The app displays the total amount to be debited, including a 1% commission, before the user confirms the transaction. The minimum commission is set at 150 units of the respective currency (som, ruble, dollar, or euro). MBANK, described as the first digital bank made in Kyrgyzstan, holds license No. 014 from the National Bank of the Kyrgyz Republic.