Friday, July 18, 2008

SMS Solutions

CDSC: The Central Depository System Corporation (CDSC) has now rolled out their SMS alert service to inform investors of trades within their accounts, and hopefully alert investors of unauthorized trades by rogue brokers

Investors can check their CDSC (amazingly, they still have no website as yet) balances by registering through either (i) in person at 10th floor Nation Center or (ii) sending an SMS formatted “REG*CDS A/C No.*ID No.” to 2372 - to receive an alias and Pin No.

Investors can then use the service to access (i) portfolio balance, (ii) view a mini statement (of last 5 trades) (iii) receive alerts of each trade [by sending an “alerts on” message to 2372] or (iv) change PIN. (each CDSC SMS costs 10 shillings - ~$0.15) [more from helpdesk@cdsckenya]

NCWSC: The Nairobi City Water & Sewerage Company have followed in the footsteps of the KPLC to introduce an SMS facility where customers can check their water bills by phone SMS. Simply send a message with account number to the number 5571, and receipt of a balance message costs 15 shillings. While The company is not as aggressive in cutting off subscribers with arrears as KPLC, their bills through the regular mail are rare and infrequenet, and so SMS is a good way to know your balance and due date.

For electricity bills from KPLC, queries cost 10 shillings by SMS, but are free by e-mail.

Mobile XL: report on a value addition SMS and chat application.

A couple of Banks offer SMS banking facilities, but the value addition is questionable given the cost [30/= per query]. Online banking for corporations seems a more viable option

And finally, most dear to every investor now is the use of SMS to trace Safaricom IPO refunds and allocation:
- For IPO allocation; message is “CDS.no#ID.no#A” to 4009
- For refund cheque location; message is “CDS.no#ID.no#R” to 4009
each SMS costs 15/=
- if no message, chances are your (rogue) broker did not buy shares for you

9 comments:

coldtusker said...

I believe the sms facility for I&M Bank is free except for sending the sms...

coldtusker said...

I forgot they have a neat feature where u can get a mini-statement via e-mail... it is free as well.

Unlike online banking, the e-mail is fast and cheap i.e. less than 1 minute to send the e-mail whereas logging onto a website takes longer at a cybercafe.

Of course, I never log on to my bank site from a cyber-cafe but I will send an e-mail to get the mini-statement.

MainaT said...

Its a shock to me that one of most important repositories of Kenyans' wealth doesn't have a website.
Ridiculous...

Mbugua said...

Check out zunguka.com
Zunguka is the web and mobile portal of choice for East Africa. We aim to revolutionize the way you work and lead your day-to-day activities. Zunguka is aimed at enhancing your social and professional lives as by enabling you discover new ways to improve your efficiency and interaction. All the 6 Zunguka Products are aimed and enhancing a certain aspect of your modern life.

Mushenzi said...

@coldtusker. Sounds like you are/have been an I$M customer. Am their client and the online srevice is superb, not to mention their call center weher you can also call to get you statement and balances. All at no extra charge!

ka-investor said...

its a noble idea to get all this info via sms, but y do they always go down after a short while?
- KPLC doesn't work any more
- HELB tried to check my status yesterday...i haven't got the reply yet
- KCB has never worked

coldtusker said...

Mushenzi:

I was wary about I&M at first (min balance was much higher, few branches, higher fees and ATMs) but since then they have reduced balance accounts, more branches in Nairobi and the staff is 'happier' thus polite.

And for saving me time & giving me service I can live with the slightly higher fees.

The branches are clean, bright and make you feel ur in a posh bank at discount prices!

The customer service is pretty good except I was told they are going to a new banking system so things are bumpy for 2-3 months.

I also use other banks but I&M is so much better that I have increasing do more biz with them.

P.S. The only downside is they are not set up for busy periods - retail customers - coz their focus has been corporate banking.

BUT the CSRs know me and I leave my chq deposits with them & I can pick up my banking slips later from them!

ka-investor: The sms may be delayed at times but overall I have not had a problem with I&M's sms facility.

coldtusker said...

Oops... I did not mean to make a pitch for I&M Bank but it's amazing that what happiness good customer service -which shud be the norm - in Kenya elicits.

If you have KES 1 million or more, you shud try their custodial services. They do have a fee though.

Anonymous said...

Check out kebay.net
This isa recently launched ebay like Pioneer East African online market place.You can sell, place bids, buy, list. At this stage it free of charge. Have a look. Incredible

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