Now it is possible to transfer money via phone number

In Uzbekistan, the process of transferring money between individuals has been further simplified. Now, to send funds, it is not necessary to enter the recipient's bank account number or plastic card details — specifying their mobile phone number is sufficient.

The new procedure is defined in the Rules for making money transfers based on mobile phone numbers via the Instant Payment System, developed by the Central Bank and state-registered by the Ministry of Justice on August 24 under number 3930.

To use the system, the user's phone number is first linked to their bank account. After that, when sending money, there is no need to separately enter the recipient's card or bank account details.

Before confirming the transfer, the user is provided with information about the recipient's last name, first name, and patronymic, the bank serving them, and the commission fee.

Another convenience is that money transfers are carried out 24/7 and in real time.

According to the rules, established requirements for information and cybersecurity, as well as fraud prevention, are observed in the system.

The user can cancel the linking of the phone number to their bank account at any time. Within a single bank, linking one mobile phone number to only one bank account is permitted.