According to the NBU license, the Kyivstar operator was granted permission to carry out financial transactions from customers' mobile accounts. Trust and good reputation in the operator allowed customers to use the well-known Smart Money service. But today this service is not working. From December 1, 2022, the company ceased its operation, based on changes in strategic development, and also to pay more attention to improving communication and Internet technologies and introducing the latest technologies and innovations.
Of course, many customers have used this opportunity and successfully transferred money from their mobile phones. It should be noted that mobile operators Life and Vodafone provide such services today, unlike Kyivstar.
Please note that the company has allowed replenishment of other operators since January 19, 2021. This can be done on the Kyivstar website, using SMS and entering the command *124*transfer amount* subscriber's phone number# and the call key. Although these services are not in particular demand today, because each bank has convenient applications for mobile top-up.
In this article, we will explain what this feature is, identify all the main nuances, and outline the pros and cons.
What is smart money from Kyivstar?
Smart Money from Kyivstar is an electronic wallet in your phone, a convenient, fast, safe way to transfer money for various services. The ability to make transfers not only for your own needs, but also to transfer the necessary amount to the bank cards of your relatives and friends. The service worked for all Kyivstar subscribers and allowed you to transfer money to the card of any bank in Ukraine.
How to use smart money? Step-by-step instructions
Of course, you need to register and activate the services from the very beginning. There are two ways to do this.
- Download the mobile application "My Kyivstra", select the desired menu, enter the number, expiration date, CVV code of your own card, receive confirmation via SMS and activate the service.
- The same scheme works on the official website, the service can be used on a phone, tablet, or computer.
In order to make a payment to a bank account, the online payment service must be connected. It is very easy to use. All you need to do after activation is to go to the mobile application or website, log in, select the necessary menu and confirm your actions. The application displays your real account balance, and in the payment history menu you can see all your transactions for the required period (day, week, month or year).
Why do we need smart money?
Previously, this service was very popular. With its help and mobile virtual money, the following payment transactions could be made:
- Pay utility bills.
- Make contributions to repay the loan.
- Pay for various services on social networks and online games.
- Pay for property, car or life insurance services.
- Pay for internet and telephony.
- Pay for groceries in the store, goods, things, taxis, bus and train tickets.
- Make transfers to your own card in case of lack of money, as well as to other third parties.
Can I withdraw money from a smart money account?
Today, of course not, but before there was the possibility of withdrawing mobile money to your own cards, and then simply withdrawing cash at ATMs. Everything was also done very simply. We go to the application, enter our phone number, receive an SMS for confirmation and enter the number of the necessary bank account and in a couple of minutes the money is on the card.
For example, to pay for some services or goods via the Internet, it was not necessary to enter card information at all; all you had to do was enter the email address you specified when registering on the portal and confirm it with a password sent by SMS.
Without the necessary confirmation, scammers will not be able to use your mobile money, which is why this service was very secure. And any SMS passwords, numbers and card details should never be transferred to third parties!
Commission and restrictions
According to the terms, a subscriber could transfer no more than 6,000 hryvnias, including the commission, from one phone number in 30/31 calendar days. The amount of one transaction could not exceed 1,200 hryvnias. The commission for the transfer was quite significant and ranged from 1 to 6 percent, depending on the selected service. Initially, the commission for the introduction of this service gradually increased, and from July 1, 2021 it became maximum and amounted to 6 percent of the transfer to a bank card.
Advantages of Kyivstar smart money
The service was very popular, especially during the development of online games, online casinos, and paid resources on social networks. The main advantages include the following:
- Very quick and convenient to make a payment.
- To use smart money, all you needed was a mobile phone nearby.
- The service was available 24/7 and constantly online.
- There is no need to undergo additional authorization, enter or show personal passport and other data.
- Security! The company's security protocols were very reliable, all confirmation was carried out only via a one-time password via SMS.
- The program's interface is very easy, convenient, and clear. It was also available for download on Android and iOS. Even inexperienced users immediately understood what to do and how to do it.
- The ability to create payment templates and make everything even faster.
Now you can transfer from your own Kyivstar account to any other subscriber no more than 999 hryvnias per transaction with mandatory confirmation.
Disadvantages and limitations of smart money
There are only two negative nuances. The first is a large commission for the transfer, and the second is that the service is simply not active and does not work today. There are no alternatives to it from Kyivstar, only transferring funds from one mobile account to another. Paying online for services from a mobile account or withdrawing money to a card is possible only through other operators.
Yes, earlier this function was very relevant and in demand among many subscribers, given that the operator Kyivstar occupies the lion's share of the market. Nothing has changed for subscribers, they have the same balances on their mobile accounts and that's it, they just disabled some features, so no one suffered any losses. And now there are many other payment platforms that are also safe, reliable, fast and convenient for making various financial transfers. Innovative technologies are developing incredibly quickly, so today there are enough alternatives for every taste and customer needs.
