January 13, 2022 islamic finance

KFH: The First Bank in Kuwait to Launch Funds Transfer Service to Local Banks via mobile numbers


Kuwait Finance House 'KFH' launched a new service which is the first of its kind in Kuwait. The service enables mobile application 'KFHonline' users to transfer funds to any account in local banks via mobile Number.

KFH Group Acting Chief Retail Banking and Private Banking Officer, Khaled Yousif Alshamlan said that the new service, launched solely by KFH at the market level, enables KFH customers to execute financial transfers from their bank accounts to any other account in local banks easily and swiftly according to high security standards through KFHonline application by selecting KFH PAY from the list then select 'Send Funds' and follow simple steps to complete the transfer transaction.

He added that the beneficiary shall only click on the link which he receives in SMS, fill in the bank card details and receive the amount directly in his account through Knet. If the customer is a KFH customer, he may receive the amount through KFHonline directly.

KFH Pay service enables KFH customers to request funds. This service is to request the payment of funds to KFH customer account either by sharing the link with KFH customers or other local banks or through direct pay from the customer accounts in local banks.

Alshamlan reiterated that this service takes the local banking transfers to a new level of speed and simplicity, thus enhancing customer's experience in which KFH has come a long way.

KFH provides an integrated package of digital banking services which have proved its pioneering and distinction in this field. KFH has launched recently, for the first time in Kuwait, the smart watch service to execute transactions on ATM.

KFH banking services may be availed round the clock and at any place. Services include online personal finance request online, opening accounts for new customers without the need to visit branches, electronic signature endorsement through 'My ID' application, local and international fund transfers, opening investment deposits, opening gold account, buy/ sell gold, request cheque book, instant printing of ATM card through QR Code, Cheque deposit, follow up finance transactions and installments, swift transfer service to KFH Turkey using RippleNet, digital wallet service through smart watches and mobiles which provide the most advanced smart digital payment methods according to the most advanced and secured calibers in collaboration with Samsung, Fitbit, Garmin and several other e-banking services.

Furthermore, KFH provides XTM machines and smart KFH Go branches in various Kuwait governorates including Kuwait Airport. KFH GO branches enable customers to benefit from the diversified package of banking services including: Instant cheque book printing, instant banking card printing without pre-request, receipt of gold biscuits (10 g), opening (gold, saving, winner, ATM) account, buy/ Sell gold, cash withdrawal without card using QR Code on mobile or through Civil ID or mobile No., printing IBAN certificate, request commercial transactions 'Murabaha', request credit and prepaid cards, update information and mobile No., activate banking cards, open deposits and accounts and many other finance and banking services.

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