Bangladesh has shown the world the magic of micro-credit.   This m-deposit project aims at revolutionizing the financial wealth of the bottom of the pyramid consumers through micro deposit, using mobile.

With current Banking system, the poor who don't have a bank account cant have any bank deposit to save regularly. Even those who have Bank account can't use the banking system for depositing small amounts on a daily/weekly basis. Collecting amount like Tk 5 (USD 0.07) doesn't make viable business case for a Bank in current system.

M-deposit collaborates bank & the mobile operator to make any mobile phone user deposit any small amount regularly.   The mobile user signs up for the m-deposit with the bank through a user menu in the mobile & promises to deposit some small amount regularly i.e. daily, weekly basis.

The mobile operator deducts that amount from his mobile's credit balance in agreed interval (e.g. weekly, monthly). This is just like auto-debit for credit card bill payment used by banks.

The consumer doesn't have to visit banks which are normally located in distance for getting the service and the bank doesn't have to make any human resource available to directly serve the low-value depositors.

The depositor can check his balance, withdraw amount and take loan against the deposit just like regular bank account by using his mobile.