Ultimate convenience: All about FastPay by Emirates NBD
FastPay by Emirates NBD is a mobile service that makes it possible for users to send funds via cashless transfers. From splitting restaurant bills to instant cash transfers, here is everything you need to know about the service.
ABOUT FASTPAY BY EMIRATES NBD
FastPay is an online peer-to-peer funds transfer service by Emirates NBD, one of the top banks in Dubai. It is one of several features in the bank’s mobile application. It enables users to send money to anyone with a valid UAE mobile number, negating the need for an IBAN or account number. Additionally, beneficiaries do not need to be customers of Emirates NBD to receive funds through the service.
FASTPAY APP FEATURES
Firstly, you’ll need to download the ENBD X app to use its many features. Once that’s done, you’ll find out everything it has to offer.
TRANSFER MONEY TO YOUR CONTACTS
Wondering how to transfer money using FastPay? You can use NBD FastPay to transfer or request funds easily. A beneficiary does not need to be a customer of the bank or even a FastPay user to have funds credited to them. All they need is a valid UAE mobile and bank account number.
To transfer funds with FastPay NBD, follow these steps:
For Existing Beneficiaries
- Access Mobile Banking.
- Navigate to Transfers and select ‘Mobile Number’.
- Choose the recipient from your saved list.
- Input the transfer amount and confirm.
- You can also enable ATM withdrawal for cash collection.
- Verify with your Smart Pass PIN.
For New Beneficiaries
- Access Mobile Banking and select ‘Transfer to a new mobile number’.
- Add the recipient’s details manually or from your phone contacts.
- Specify the transfer amount and confirm.
- You can enable ATM withdrawal for cash collection.
- Verify with your Smart Pass PIN.
- Save the beneficiary for future transfers.
RECEIVE FUNDS VIA AN ATM ACCOUNT
Confused about how to receive money from Emirates NBD FastPay? As mentioned, you do not have to be an Emirates NBD customer to receive money via the service. A FastPay user can send funds by entering the mobile number of their desired recipient. The recipients will then need to enter a PIN they received through SMS after initiating the transfer.
After inputting an amount, beneficiaries can choose to either “Receive to Account” or “Withdraw from ATM”. Those who opt for the former will be required to provide the details of their UAE bank account.
INSTANTLY TRANSFER MONEY TO AN ATM
FastPay Emirates NBD users can initiate money transfers through NBD ATM facilities. The app has an ATM option that can be accessed after selecting Transfer Money with FastPay. Users can also add a voice message, description or emoji before proceeding with the transaction.
Beneficiaries will receive a PIN code and an SMS after a successful transaction. They can use these details to withdraw funds from an Emirates NBD ATM facility.
REQUEST MONEY
Need to ask your contacts for money? FastPay enables beneficiaries to request funds from other users thanks to the Request Money with FastPay option.
- Log in to your mobile banking application.
- Navigate to the bottom of the app screen and select ‘Actions’. From here, choose ‘Request Money’.
- Select the desired recipient from your existing mobile beneficiary list or save their details if they are new.
- Input the required transfer amount and confirm the transaction.
- An SMS will be sent to the recipient informing them of your money request. They must log in to their mobile banking app, review the request under ‘New Activity’ and confirm the transfer.
- The recipient has a 24-hour window to approve the request. If no action is taken within this timeframe, the request expires.
SPLIT THE BILL
Now, you don’t have to worry about anyone giving their fair share of a restaurant bill on a night out with friends. After you have paid the full amount, you can use the Split Bill option from the Transfer/Request funds to request each person’s share. This is provided that they are in your list of contacts on the Emirates NBD app. The service will divide your bill or selected amount.
The request for each divided amount will be sent to you and your friends. After the request is sent and accepted, the requested funds will be sent to your account immediately.
CARDLESS WITHDRAWAL
The FastPay Cardless Withdrawal service makes it easy for beneficiaries to withdraw transferred cash via ATM. It also allows them to receive cash without a debit card. To use the feature, go to your nearest Emirates NBD ATM facility and initiate the following steps:
- Choose the ”Cardless Withdrawal” option on the screen.
- Select a language and enter your mobile number.
- Enter the transaction amount.
- Enter the 5-digit PIN code sent to you as an SMS.
- Withdraw the cash.
FAQS
WHAT ARE THE LIMITS TO TRANSFERRING MONEY THROUGH FASTPAY?
You can send up to AED 2,000 in a single FastPay transaction. The total amount you can transfer in a day is capped at AED 4,000.
WHAT HAPPENS IF I DON’T CLAIM MY FASTPAY TRANSFER?
If you fail to claim your FastPay transfer, the funds will be returned to the sender’s account within 24 hours.
HOW TO CREATE A FASTPAY EMIRATES NBD ACCOUNT?
In order to use the cashless withdrawal and transfer service, you will first need to register for online/mobile banking on the Emirates NBD website.
HOW CAN YOU INSTALL FASTPAY EMIRATES NBD?
FastPay is an option in the ENBD X mobile banking app. Depending on the operating system on your smartphone, you can download this application from Google Play or the App Store.
HOW TO WITHDRAW MONEY FROM FASTPAY?
When it comes to withdrawing transferred money, it depends on where the sender has transferred the funds. It can either be an Emirates NBD ATM or your given bank account. You can withdraw the money from the source you have chosen.
This concludes our guide on how to use FastPay to send and receive money. The UAE has introduced several online payment options to facilitate essential payments for residents. Some great options include the E-Dirham card, which you can use to pay different service charges. Additionally, if you live in Dubai and rely on the emirate’s transport services, you can apply for digital NOL cards.
Looking to save your money in a safe and beneficial way? It’s worth considering National Bonds in the UAE.
Are you an expat? The best credit cards for expats are offered by banks like Standard Chartered and RAKBANK, amongst others.
That is all we have for you about the FastPay service from Emirates NBD, one of the popular e-wallets in the UAE.
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