Home Banking Magic Cash (MCash) Card-Less Banking Service

Magic Cash (MCash) Card-Less Banking Service

Magic Cash (MCash) is a newly introduced card-less service that enables bank Users/customers withdraw their money from any ATM stand without the use of any debit card but through USSD.

The service is actually a nice one that helps when you travel or leave the house without remembering to go with your debit card (VISA, MASTER, National cards etc ) then this will serve if you wish to withdraw cash from your account.

Mcash is supported by Banks in Nigeria such as; Zenith, UBA, FCMB, Polaris, Stanbic IBTC, WEMA, GTB, Unity, First Bank of Nigeria, Sterling, Fidelity Bank Nigeria, Ecobank and Diamond Bank.

How To Register for Magic Cash (MCash) in Nigeria

To register for mcash in any Nigerian bank, you are mandated to follow our guideline below, however; Diamond (Access) bank is used as a case study right in this article. But same thing is applicable for other Banks.

  • Go to any nearby Diamond (Access) branch or your own banking hall, locate the Customer Care Bankers and tell them you want to register for Magic Cash Service. After the
    registration, follow below.

register mcash in NigeriaAlternative to above, you can contact your Bank customer care Centre by calling their hot lines in case you have them. Once they pick your call, let them know you wish to register for the service.

So after the registration, follow below guide:

1. From the number you registered your Diamond Magic Cash Account with, as in the number you wish to receive your
daily Alert when you make any transaction on the account.

2. Simply Text ATM to this number 30811 in order to generate a six digit Magic Code. Copy the code somewhere and save for future use. (As the code is very important for Most transactions on MCash account).

3. Then go to any nearby Diamond bank branch and locate their ATM, now on the ATM machine select Magic Cash option.

4. Next, Enter your registered number linked to the account during registration, starting with this prefix +234, (for eg +2348164645149)

5. Now enter the six digit Magic code generated from one of the above steps.

6. Now create a new 4 digits Magic PIN which will be used for any further transaction from the ATM and then confirm it by re-entering it as prompted by the Automated Machine.

Note: after creating this first 4 digit Magic PIN, it will always be required for subsequent transactions you make in order for it to be successful. So secure and recall any digit you choose to use.

And also know that Magic Cash is available to Diamond Bank customers alone as at the time this service came out newly. But now other banks have joined suit to transact with MCash.

You might want to get: Swift Codes For All Banks In Nigeria

How To Withdraw Money From MCash

Magic Cash Payout is quiet simple and easy to carryout. The transaction doesn’t require any sort of ATM Card for users to cash out through the Automated Machine. To cash from your MCash Account, just go to any nearby BanK ATM stand and follow below steps:

  • From the ATM Home Screen, Select “Magic Cash Transfer.”
  • Next is to select the option of “Magic Cash Transfer cash out.”
  • Now, enter your “Magic Transfer Code” on the provided section on the screen.
  • You will be required to enter a six secret digit number (sent to you by the sender).
  • The transaction summary will be displayed for you to cross check the details you entered earlier, whether correct or not. Now confirm the transaction by pressing the Enter button and cash will be dispensed.
  • That’s all, and a receipt will be generated for the successful transaction made.

How To Make Digital Payments For Goods And services Using MCash

Using MCASH, you can actually pay for goods and services online with an ease. The following steps will walk you through on how to achieve that through your Mobile Phone.

MCASH paymentJust earlier, Diamond bank added another service to Magic Cash (MCash). And the service is all about digital payment for goods and services with mCash account.

The service is actually for making both online and offline payment to items or services purchased by any customer running Magic cash Account at business locations.

To use this service, all you have to do, is to dial a short USSD code on your registered mobile number linked to the Mcash.

To do that, simply dial this *402*MerchantID*Amount# on your mobile phone, and fill the right details as required on the code.

Note: Merchant ID, simply means the numbers representing the Mcash as account number. And it is always issued to any customer after the registration for Mcash Account. So from the code given above for payment, just replace the Merchant ID with the person’s ID you are paying to, then enter the amount in number not in words.

Also Read: How To Check Bank Verification Number BVN On MTN, Airtel, Etisalat (9mobile) And Glo Networks In NIgeria.

How To Make A Magic Cash Transfer Transaction

To perform a Magic Cash transfer transaction on a Diamond or any Bank ATM, then follow below steps to achieve that:

  1. Now enter your PIN,
  2. From the Home Screen of the ATM, select “Magic Cash Transfer”
    Next, choose the account you wish to debit for the transfer and also enter the amount.
  3. Here, you will need to enter the six digit secret number (And also, you will have to send this to the beneficiary in order to collect funds along with the Magic Transfer Code sent to their mobile phone)
  4. Input the beneficiary’s mobile number (The Magic Transfer Code will be sent to this number)
    Now, you will get to see the Transaction summary displayed on the ATM screen, cross check the details and then confirm it.
  5. You can as well, request for receipt that is been generated with Voucher number and Amount. That’s all for Mcash transfer transaction on Diamond bank.

How To transfer Magic Cash fund into your Bank Account

To have your Magic cash fund transferred into your normal Diamond Bank Account whether savings acct, current account, or fixed account etc. Follow the steps below;

  1. Go to the bank ATM and insert your ATM Card, or you can still choose to access the ATM without using the Card, just by using Magic cash option on the ATM screen.
  2. Just select Magic cash Transfer from the ATM screen.
  3. Enter your own Magic Transfer Code, (the one you received on your Mobile Phone.)
  4. Next, input your secret six digit PIN (As provided by the sender)
  5. Choose the account number you wish to transfer the money to.
  6. Now, the summary of the transaction will display for you to review your entered details whether correct or wrong. After cross checking, click on enter button on the screen, if screen touch to confirm the transaction.

That’s all, now the diamond bank account should be credited and a receipt will be generated for proof.

Summary

This Magic Cash (MCash) service has been registered with almost all the banks n Nigeria, but to have it, only the below banks have activated it to be used by their customers, while others are yet to queue in. Banks that have activated the service include; Diamond Bank, Zenith Bank, Fidelity Bank, Sterling Bank, Union Bank, and First City Monument Bank (FCMB).

While some other banks that are yet to activate the service for their customers include;  First Bank, Eco Bank, Guaranty Trust Bank (GTB), Sky Bank, United Bank for Africa (UBA), Stanbic Bank, Wema Bank, Unity Bank, Heritage Bank, and Access Bank Bank.

As soon as any of these banks introduce the service, we will let you know.

Also Check: All banks ussd transfer code

Now, Have you registered for Magic Cash Account with any of the Nigerian Banks before? If yes, we would love to hear from your experience so far. Meanwhile, if you have any contribution or question, kindly use the below comment box to air it out. And don’t forget to let others know about this post by sharing with below social media buttons.

FAQs on Magic Cash (MCash) Card-Less Banking Service

What is mCASH?

Magic Cash (MCash) is a newly introduced card-less service that enables bank Users/customers withdraw their money from any ATM stand without the use of any debit card but through USSD.

How do I withdraw money from mCASH?

From the ATM Home Screen, Select “Magic Cash Transfer.” Next is to select the option of “Magic Cash Transfer cash out.” Now, enter your “Magic Transfer Code” on the provided section on the screen. You will be required to enter a six secret digit number (sent to you by the sender). The transaction summary will be displayed for you to cross check the details you entered earlier, whether correct or not. Now confirm the transaction by pressing the Enter button and cash will be dispensed. That’s all, and a receipt will be generated for the successful transaction made.

Can I withdraw money from ATM without debit card?

Magic Cash Payout is quiet simple and easy to carryout. The transaction doesn’t require any sort of ATM Card for users to cash out through the Automated Machine. To cash from your MCash Account, just go to any nearby BanK ATM stand and follow below steps:

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