Equity Bank has rolled out its thin SIM services in the Kenyan market, following a successful legal battle against East Africa’s biggest telecom Safaricom. The new services will allow Equity Bank customers to send money free of charge; they will only have to pay fees when transferring money from their Equity Bank account to other banks.
James Mwangi, the Equity Group CEO in a statement said that the thin SIM services will also include voice calls, SMS and mobile data services. Voice calls from the Equitel SIM cards to all networks will be charged at Ksh.4 per minute, Ksh.1 per SMS and the mobile money transfer services will attract no charges.
“The free money transfer services are like Internet banking services. What we are saying is why should the low-income people be paying while the rich don’t pay so that when you transfer money from your account to your mother’s account there will be no charge”, said Mwangi, yesterday during the launch.
“With Equitel, you will be able to send money to any telecom, bank account or mobile phone in the country”.
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Read more here:: Equity Bank Got The Green Light, Now Rolling Out Thin SIM Services