The banking world has elated to higher heights with CBA Loop cutting its niche in the modern banking technology that many might be forced to embrace in the foreseeable future.
Loop ensures that your money is safe while at the same time checking your spending habits so that any time you spend; there is a crystal clear reason why. And it isn’t merely a bank since it makes sure that your money exists for one simple reason. To make sure you rip life’s price tag right off the label. Loop provides the coin you need to light up the game you’re trying to beat at life’s arcade.
"We set money free with a fully digital money management app that achieves something we've been told is impossible – letting money make us happy," says a CBA Loop agent.
According to a user manual upon account registration, one will realize that Loop is a fully functional bank just like any other, only that it is somehow portable. It allows you to do the usual things that usual banks do, but unusually.
Managing your finances, loans and investments, slot right into your life like the perfect block in life's Tetris game.
“We turn jumping through hoops into joyful loops, it returns joy to the money you work so hard to acquire,” says another Loop agent.
There exists an array of reasons you should take that big leap of faith and register yourself with CBA Loop to turn your dreams into solid cash you can substantiate. All that you need is a smartphone, data bundles and you will be good to go. The following are reasons why you should unbank yourself while banking on your ambitions with CBA Loop:
A pocket-sized financial manager - With Loop, you will be able to transact normally via the CBA Loop app on your smartphone. This can be sourced from the Google Play store and installed on your mobile phone so that your bank is within your reach everywhere you go.
"It is so convenient to use the application software once installed on your smartphone, I often use it to send money and it ensures that all my payments are made electronically to avoid the fraud that might be witnessed in cash dealings,” says Annette, a client.
Loop also enables you to keep an eye on your spending -For instance, if purchasing clothes, you will first have to fill a form indicating why you are making the transaction. The app checks if your request holds water before giving you the green light to access your monies.
With the Loop app on your phone comes convenience - You can make payments to an array of service providers ranging from electricity (KPLC), water(Nairobi water, airtime(Safaricom, Airtel, Telkom) and even DSTV. The application links directly to mobile money and ensures you make secure payments to your preferred service providers at a small cost of around Ksh. 42. Isn’t this awesome, paying your bills directly from your bank account without having to physically go to the bank.
Loans at the touch of a button – With this kind of technology, one doesn't have to make long queues in banks when in need of financial assistance in the form of loans. You will simply have to log into your Loop application using your smartphone, at the taskbar which is towards the bottom, click on loans and you can choose between a personal loan and overdraft. It is this easy!
Easier card replacement – We all could misplace important documents and cards at times. Albeit this, Loop offers a more convenient methodology to have your debit card replaced as soon as possible should you lose it. In case of a misplaced card, simply make a replacement card request from your Loop app or web address. Log in to the loop app or web and select “request for a replacement card” and select the card you want to replace.
Promptly block and unblock your card – In case someone made away with your card, then this can be fixed. There is no cause for alarm; simply go to the Loop app or web and assign a "block" status. In case your card is lost or damaged; apply the same procedure to have it blocked so that no one can access your monies. To also unblock your card, go to the Loop app or web and select "activate" if you had previously blocked it.
Spending which spends on you – Loop is more like a financial management tool, which rewards your smart financial moves. Loop surprises its clients when they use some specific features within the app, for example, the Loop invests, setting goals and this enables you to spend wisely. It monitors your spending to make sure you do not out of your way making unnecessary purchases.
Loop corner in case you get stuck – With the app comes some rare convenience. Working around it is easy, but of course, not everyone is technology savvy. If clients get a hard time using the application, then the Loop corner can be of assistance. Here, one can get useful tips on Loop functionality, and answers to frequently asked questions.
“We understand calls are not everybody’s cup of tea, raise a query from the same help corner and immediately obtain a ticket number to confirm your problem is being looked into by our Loop crew,” says a Loop agent from CBA Loop Mombasa.
