Emirates NBD has launched a new savings product, ‘Shake n’ Save,’ for its mobile banking app, which allows customers to transfer money from their debit account to savings account by simply shaking their mobile devices.
The move by the lender is to encourage customers to save small amounts of money, somewhere in between AED50 ($13.6) and AED2,000 ($544.4).
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Emirates NBD retail banking general manager, Suvo Sarkar, said Shake n’ Save is a significant initiative in the bank’s on-going strategy to encourage customer migration to digital banking through greater use of mobile and online banking channels.
"With this product, we are offering our Mobile Banking Customers an innovative opportunity to save money while having some fun at the same time," Sarkar added.
Customers can shake the mobile device to display a random amount within the desired range, which can be transferred immediately to mobile savings account. There is no restriction to the number of shakes.
Additionally, customers can earn 2% per annum interest rate on any amount up to AED100,000 ($27,225).
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By GlobalDataThe Shake n’ Save feature is compatible with iPhone, iPad, Android and Blackberry10 mobile devices.
