This account is designed for both working individuals for receiving their salaries and ordinary customers. To open the account an employee needs to bring a letter from his/her employer with a valid ID. The account enables employees to save their money for future use. However, they have the option of drawing money as and when needed. Customers are issued with Visa card for drawing money through the ATMs and purchase of goods and services where Point Of Sale machines are provided..
Savings withdrawal slips are used in case where the ATMs are not available. A minimum balance of MWK 1000 must be maintained at all times and interest is paid at the end of the year. The interest rate is slightly lower than that of the ordinally savings account. Water and electricity bills can also be paid through the ATM and Mo626Ice as well as the purchase of recharge mobile top up units.
How much will it cost me?
A monthly service fee is charged on the account as defined in the bank’s tariff.