Till to bank
Stanbic Bank Till2Bank offering is a service that allows businesses to accept Mpesa, TigoPesa and Airtel money payments from their customers through a formal Till number and receive the funds directly to their Stanbic Bank account. The service provides a seamless channel to convert e-value collected in a till to money in the customer’s bank account
What does it offer me?
- Same day settlement of funds to your Stanbic account.
- Safer and cheaper than handling cash.
- Fee structure is simple
- It's a free service to M-PESA , Tigopesa, Airtel Money and EzyPesa customers making payments through the till.
- Minimizes sales revenue leakage.
- Secure - no customer initiated reversals.
- Easy access to cash - same day settlement.
- Free or charges for your customers.
- Eliminates the need to look for and keep change.
- You can view your balance and statement anytime, anywhere via a web based portal (single or multiple tills)
- Post payment notifications directly into your ERP or accounting system.
How does Till to bank Solution work on my customers end?
Dial *150*01# >>> Select 6. Financial services >>> Select 5. Selcom pay >>> Enter pay number (Till number) >>> Enter amount >>> Enter pin to confirm
Dial *150*00# >>> Select 4. Pay by M-pesa >>> Select 4. Enter Business number >>> Enter business number (123123) >>> Enter reference number (Till number) >>> Enter amount >>> Enter pin >>> Press 1 to confirm or 2 to cancel
Dial *150*60# >>>> select 5. Make payments >>>> Select 2. Choose business >>> Select 3. Purchases >>> Select 3. Selcom pay >>>Enter amount >>> Enter reference (Till number) >>> Enter Pin to confirm
How to sign up for Till to bank
- Have an account at Stanbic bank
- Sign the application form available at the branch or contact your relationship manager for registration..
- Get a till allocated to you and training on how to use the service.
- Start receiving payments from customers on your till.
- As required, place settlement instructions.
- Money is transferred directly from your till to bank.
- Registration, till and training is FREE!
Terms and Conditions
The relationship between the Bank and the Merchant is governed by the Laws of the United Republic of Tanzania, except where the following terms and conditions apply and subject to any further agreement in writing.
1.1. In this Agreement, unless clearly inconsistent with or otherwise indicated, the defined terms shall have the respective meanings as set forth hereunder:
1.1.1. “Administrator” means the Merchant’s duly authorised agent as advised to the Bank in writing and from whom the Bank shall receive instructions to undertake transactions using the Service as set out under this agreement;
1.1.2. “Agreement” means this document, the Operational Documents and Regulations and any other appendices hereto;
1.1.3. “Bank” means Stanbic Bank Tanzania Limited, a company duly incorporated and licensed as a bank under the Laws of Tanzania and affiliated to Standard Bank Group, with its principal office at Stanbic Centre, Plot 99A, corner of Kinondoni Road/Ali Hassan Mwinyi roads, P.O. Box 72647 Dar es salaam, Tanzania;
1.1.4. “Business Day” means any day other than Saturday or Sunday or any official public holiday in the United Republic of Tanzania;
1.1.5. “Till” means the till number(s) allocated to the Merchant for the purpose of receiving payments from Payers;
1.1.6. “Merchant Account” means the bank account specified in this application form for the purpose of crediting any funds following a request for settlement by a Merchant;
1.1.7. “Merchant” means a business in the United Republic of Tanzania that allows its customers to pay for goods or services through Mobile network operators;
1.1.8. “Mobile network operator” (MNO) means the mobile money transfer services provided by Tigopesa, Mpesa and Airtelmoney.
1.1.9. “Operational Documents and Regulations” means the procedures and regulations, set out by mobile network operator for purposes of operating the mobile money pay with a Till amended by mobile network operators from time to time;
1.1.10. “Payer” means an MNO user who makes payments to the Merchant;
1.1.11. "Parties" means Stanbic Bank Tanzania Limited and the Merchant who individually shall be referred to as a "Party";
1.1.12. “Telecommunications Infrastructure” means collectively the MNO`s Network
1.1.13. “Transaction” means Payments made by the Payer to the Merchant;
1.1.14. “Aggregator” means the facilitator that has partnered with the Bank to facilitate till to bank transactions from the MNO.
1.1.15. “Signature Date” means the date of the last Party to sign this Agreement.
1.1.16. “Service” shall mean the money transfer service using the MNO processes and platform offered by the Bank for/to the Merchant from time-to-time;
1.2. References to any Party in this agreement shall where the context so admits, include its successors in title and assigns.
1.3. Words importing the singular shall include the plural, and vice versa, words importing the masculine gender shall include the feminine.
2.1 The Bank will provide to the Merchant the Service as more particularly set out in clause 4 below.
3.1 This Agreement will commence on the Signature Date and will continue until terminated by either Party in accordance with the provisions of this Agreement.
4. The Service
4.1 The Service shall consist of different stages as fully described below:
4.1.1 The Merchant’s e-value collections shall be credited to the Bank’s Account at real time or at the end of the day in regards to the option selected by the Merchant.
4.1.2 The Bank shall route the Merchant’s collections to the Merchant Account less the commission as per the Bank’s pricing guide;
4.1.3 Provide web based reports to the Merchant to ensure that they can reconcile payments received and settlements done by posting payment notifications directly into the Merchant’s ERP or accounting system, if needed; and
4.1.4 Investigate any discrepancies and advise the Merchant on the appropriate action to ensure the query is closed;
4.2 The Parties shall:
4.2.1 In addition to this Agreement, comply with such other agreement(s) between them relating to products which are delivered via or utilise the Service;
4.2.2 Comply with the laws and legislation of the country in which the Service is provided.
4.3 The Merchant shall:
4.3.1 Inform the Payer that he will receive a text message emanating from the Aggregator to confirm that e-value has been debited from his mobile money account;
4.3.2 The Merchant will be informed by text message emanating from the Aggregator of the credit into its till account(s);
4.3.3 The Merchant undertakes to inform the Bank in case of any discrepancies between its till balance and funds credited to its bank account less the commission as per the Bank’s pricing guide;
4.3.4 Use its best endeavours to operate the Service in the manner determined by the Bank, in terms of this Agreement and in accordance with the Operational Documents and Regulations;
4.3.5 Maintain overall responsibility for the operation of the Service within its organisation, and manage the Service and associated risks through appropriate internal controls;
4.3.6 Immediately inform the Bank in writing, of all assigned and changed role allocations within its organization;
4.3.7 Indemnify the Bank against all claims arising out of the Merchant’s acts or omissions;
4.3.8 Supply all data and information when requested by the Bank and ensure that all such data, information and instructions are in the specified format and are correct in every sense;
4.3.9 The Merchant acknowledges that they will not be able to countermand any instruction or transaction given or done through the module once that instruction or transaction has been processed;
4.3.10 The Merchant shall not be entitled to cede or assign this Agreement without the prior written consent of the Bank.
4.3.11 The Merchant undertakes to procure the Administrator’s compliance of the terms and conditions of this Agreement and will be liable for the Administrator’s acts of negligence and/or breach of this Agreement.
4.4 The Bank shall:
4.4.1 Not be liable for any losses suffered by the Merchant unless caused directly by the negligent or unlawful act or omission of the Bank or any of its employees and agents;
4.4.2 Use all reasonable endeavours to ensure that the Service is functioning in accordance with the Operational Documents and Regulations. However, the Bank accepts no liability for downtime and unavailability of the Service for whatever reason;
4.4.3 Process the instructions, including payments, collections and transfers, by the in accordance with the Operational Documents;
4.4.4 Reject instructions including payments, collections and transfers that are incorrect, incomplete, or not in accordance with the Operational Documents and Regulations, or inconsistent with any arrangement with the Bank;
4.4.5 Use its best endeavours to ensure that all information available through use of the Service is correct;
4.4.6 In its absolute discretion and without incurring any liability, refuse to implement any instruction for any reason and will attempt to notify the Merchant of its decision to do so; and
4.4.7 Reserve the right to revise the commission in line with the Corresponding market conditions. The Bank shall issue the Merchant with a thirty (30) days’ prior written notice of its intention to revise the commission.
5. Disputed Transactions
5.1 The Merchant undertakes not to backdate transactions. The Bank shall be entitled to dispute any such transactions.
6.1 The Merchant shall pay the Bank a commission as per the Bank’s pricing guide of the value of each money transfer/payment transaction from the Payer as commission for the mobile transfer service offered by the Bank to the Merchant from time-to-time.
6.2 The Bank reserves the right to adjust the charges from time to time in line with inflation. In the event of exceptional circumstances necessitating revision of charges, the Bank shall give the Merchant at least thirty (30) days prior written notice before implementing any proposed variation in the Charges.
6.3 The Merchant shall pay the Bank the commission as per the Bank’s pricing guide for the Service as specified by the Bank from time-to-time.
6.4 The Merchant authorises the Bank to debit the commission to a designated account during settlement.
7. Nature of Relationship
The relationship between the Bank and the Merchant shall be that of independent contractor and the Bank shall not be a representative or agent of the Merchant and shall not be liable for any acts or omissions of the Merchant.
8. Warranties and Indemnities
8.1 The Bank warrants that:
8.1.1 it will perform the Service in accordance with the standards set forth in this Agreement;
8.1.2 it has the requisite skills, expertise and resources to perform the Service.
8.2 The Merchant agrees to indemnify the Bank and hold it harmless against all actions, proceedings, claims and demands which may be brought against the Bank and all losses, costs, damages and expenses which it may incur or sustain in connection with or arising out of its use of the Service.
9.1 Except as otherwise provided in this clause, the terms and conditions of this Agreement, all data, reports, records and information relating to the Service and any other information of any kind whatsoever developed or acquired by any Party in connection with this Agreement (“the confidential information”) shall be treated by the Parties as confidential. No Party shall disclose such confidential information to any third party without the prior written consent of the other Party hereto.
9.2 The Parties obligations’ in clause 9 shall not apply in respect of information within the public domain or a Party’s knowledge at the commencement of this Agreement or to disclosure required by law or court order.
9.3 The Bank will take reasonable care to ensure that the Merchant information remains protected from unauthorised access and remains confidential. Any disclosure by the Bank of such information to a third party if necessary for the proper operation of the Service shall not constitute a breach by the Bank of its obligations under this clause.
10. Force Majeure
10.1 The failure by any Party to perform due to circumstances not reasonably within its control, including, without limitations, acts of God, civil commotion, riots, fire, governmental embargoes (“force majeure”), shall not be regarded as breach and the non-performing Party shall not be liable for any delay or loss or damage arising there from, provided that performance is resumed as soon as is reasonably possible, and provided that written notice of such event shall be given within 48 (forty eight) hours by the affected Party.
11.1 Should any Party (“the defaulting party”) commit a breach of any provision of this Agreement and fail to remedy such breach within 14 (fourteen) Business Days of receiving a written notice from the other Party (“the aggrieved party”) requiring the defaulting party to do so, the aggrieved Party shall be entitled in addition to its other remedies in law or in terms of this Agreement to cancel this Agreement forthwith and without prejudice to its rights to claim damages.
12.1 Either Party may terminate this Agreement or any part of the Service on one calendar month’s written notice.
12.2 The Bank may, acting reasonably, suspend all or any part of the Service offered to the Merchant.
12.3 Notwithstanding anything to the contrary contained herein, either Party shall be entitled to terminate this Agreement immediately if the other Party:
12.3.1 takes steps to place itself, or is placed in liquidation, whether voluntary or compulsory or under judicial management in either case whether provisionally or finally; or
12.3.2 is subjected to legal proceedings involving fraud/corruption; or
12.3.3 takes steps to deregister itself or is deregistered; or
12.3.4 commits an act which would, in the opinion of the Bank, constitute an act of insolvency.
12.4 Termination of this Agreement will not relieve a Party of obligations imposed upon such Party by statute or regulation or by this Agreement prior to its termination.
13. Limitation of Liability
13.1 Notwithstanding anything to the contrary contained in this Agreement, the Bank shall not be liable to the Merchant for the Bank is licensed and regulated by the Central Bank of Tanzania. Any indirect or consequential loss or damage, including without limitation, loss of profit, revenue, anticipated savings, business transactions or goodwill. Except to the extent attributable to the negligence or misconduct of the Bank or employees, the Bank shall not be liable to the Merchant for any loss or damage that the Merchant may suffer in connection with the Service and in particular but not by way of limitation as a result of:
13.1.1 any errors or omissions in or delay, breakdown or interruption in or improper operations of or inaccuracies in the operation of the Service nor for any loss of use howsoever caused;
13.1.2 any loss, damage or destruction caused to the Merchant’s hardware, software or any other data processing system as a result of using the Service;
13.1.3 any breach of confidentiality resulting directly or indirectly from the Merchant’s use of the Service;
13.1.4 any matter arising from causes beyond the Bank’s control.
13.2 The liability of the Bank in any and all categories and for any and all causes arising out of this Agreement shall, in the aggregate, not exceed 2 (two) months average billing to the Merchant taken over the 12 (twelve) months preceding the month in which the damage or injury is alleged to have occurred (or, where the Service has been provided for a period of less than 12 (twelve) months then over such fewer number of preceding months.
14. Governing Law and Dispute Resolution
14.1 The Laws of the United Republic Tanzania shall govern this Agreement.
14.2 In the event of a dispute arising between the Parties in respect of any matter contained in this Agreement, the aggrieved Party shall notify the other Party in writing about the existence and nature of the dispute within fourteen (14) Business Days of the dispute arising.
14.3 In good faith to settle the dispute in question as expeditiously as possible through the Parties’ representatives but in any event within a period of fourteen (14) Business Days of the matter being referred to them. Should the Parties’ representatives fail to resolve the dispute within the aforesaid period or such longer period as the Parties may mutually agree in writing, the dispute shall be referred to arbitration by either Party. The determination of the Arbitrator shall be final and binding upon the Parties to the extent permissible by the applicable law.
14.4 The arbitration shall be conducted in English and held in Dar es Salaam and in accordance with the provisions of the Tanzanian Arbitration Act Cap. 15 and as may be amended from time to time.
15. Notices And Domicilium
15.1 The Parties choose their respective physical addresses above as their domicilium addresses for service of all notices and processes for legal purposes in respect of this Agreement.
15.2 Either Party may change its address for legal notification purposes to another physical address by means of written notice to the other.
16.1 This document embodies the entire Agreement between the Parties hereto.
16.2 No amendment or variation of any of the provisions of this Agreement shall be of any force or effect unless reduced to writing and signed by both Parties.
16.3 No waiver by any Party of its rights will be of any force and effect unless in writing and signed by both Parties.
16.4 The invalidity, illegality or unenforceability of any of the provisions of this Agreement shall not affect the validity, legality and enforceability of the remaining provisions of this Agreement.