A method of receiving virtual cash from an outlet through a mobile phone including the steps of: —customer requesting cash-out at an outlet; —customer showing identification and filling out a form; —frontliner accessing the device and keying in command containing customer's amount of cash-out and sending this to telco; —telco verifying that customer's mobile phone is registered with the telco's cash product services and that the amount of cash-out is available in the customer's mobile phone cash account and sending information to the device of the frontliner of the outlet; —frontliner of the outlet verifying that customer is registered with telco's cash product services and advising the customer of the unique transaction code; —customer paying cash-out fee; —customer keying in “CASHOUT” cash product command containing his PIN, amount to be cashed out, and his mobile phone number; —sending this command to telco; —outlet's device receiving a confirmatory message from telco of cash product service transfer; —customer receiving a SMS acknowledgment from telco of the completion of the cash product service; —customer getting virtual cash from the outlet; —outlet's device receiving an acknowledgment of the completion of the transaction and confirmation number from telco in a format matching the outlet's device.