OREANDA-NEWS. October 01, 2014. Muganbank has introduced one more new service - “Cash by Code” to its clients. The “Cash by Code”  enables getting instant cash from ATM even without having a bank card. Muganbank card holders can do a “Cash by Code” trasaction either via ATM or through Mobile Banking service.

Use of this service is simple. Cardholder selects “Cash by Code” option in ATM and types the mobile number of the recipient  and amount of transfer. The system generates code in two parts. The first part is printed out in the form of a check and the second part is sent as SMS-messages to the recipient cell phone. The recipient must enter both parts of the code in any Azericard connected- ATM within 24 hours and get the cash.

 “Muganbank” OJSC, one of the well-known participants of Azerbaijani financial-banking industry has been functioning since 1992. The bank’s 39 branches and 8 sub-branches in the country, as well as its representative office in Moscow effectively serve customers with all types of banking products. “Muganbank” OJSC cooperates with such international financial institutions as the US Agency for International Development (USAID), European Bank for Reconstruction and Development (EBRD), International Finance Corporation (“IFC”), World Business Capital, Inc. (WBC), Overseas Private Investment Corporation (OPIC) and Islamic Corporation for the Development of the Private Sector (ICD).