KFH Launches (WAMD) for Sending and Receiving Money via Mobile Number

In line with the latest payment technologies and to enhance the customer experience, Kuwait Finance House (KFH) has launched a new digital service called (WAMD). This service allows customers to send and receive money instantly and for free using their mobile numbers, 24/7.

KFH cements its digital leadership by launching (WAMD) through the KFHonline app, powered by K-Net. This service exemplifies the bank's commitment to providing cutting-edge digital financial solutions, services, and high-quality payment systems. It further aligns with KFH's ongoing efforts to develop its technological infrastructure, ensuring seamless delivery of technical services across all platforms. These efforts solidify KFH's role in leading the digital transformation of the banking sector.

Meanwhile, KFH Executive Manager Digital and Alternative Channels, Meshal Alobaid said that the WAMD service offers customers an unparalleled experience in transferring and requesting money. This experience combines high security standards with exceptional ease and speed, ultimately improving the efficiency of customer transactions.

He explained that providing (WAMD) through the KFHonline app enables customers to send money to other customers at KFH or any other local bank. Both the sender and beneficiary must be registered for WAMD using their phone numbers linked to their bank accounts. The request is valid for only 24 hours.

Alobaid said that (WAMD) is available to all KFH customers who have full access to the KFHonline app. Transfers can only be made through the app.

"The minimum amount a customer can send per transaction is KD 1, and the maximum is KD 1,000. There's also a daily limit of KD 3,000, meaning customers can make as many transactions as they want under this limit. Additionally, the maximum monthly sending amount is KD 20,000," he explained.

It is worth mentioning that KFHonline (available through both a mobile app and website) offers over 150 services, whereas XTM devices and KFH Go smart branches offer around 50 different services. Accordingly, the customer has the option to choose between around 200 e-services offered through apps and other various means.