Nov 8, 2013 (Fri): CIMB Bank is introducing OctoSend, a new way allows users to send money to their friends by just providing their mobile number or email address. With this peer-to-peer (P2P) banking service, CIMB customers can transfer money to their friend back for lunch, send allowance to kids or pay money to colleague for fundraising easily without asking for bank account numbers.
After the sender initiated the transfer, OctoSend will send a Claim Code to recipient either via email and SMS. The recipient needs to claim that money with CIMB within 7 days. After 7 days, the Claim Code will expire if the recipient didn’t claim it and then the fund will be returned to the sender. Once payment claimed, the sender will be notified via SMS.