The company is to initially offer transaction accounts
, savings accounts and home loans.
The innovation is that all accounts of legal entities are now in the Registry, whereas previously it only contained transaction accounts
. Furthermore, the Registry is based on a real-time working, which implies that the data are collected continuously during working hours and are processed as such.
"The Customs Administration is not asking for an access to the transaction accounts
of individuals but wants instead to be allowed to act in keeping with its powers granted by the customs law," says Gjoko Tanasoski, Director of the Customs Administration.
Among such products, general purpose reloadable (GPR) prepaid cards may be able to address the issues more effectively than alternative checking accounts offered by depository institutions or transaction accounts
offered by nondepository institutions.
The Payment aspects of financial inclusion report builds on a document that underwent public consultation in late 2015 and seeks to tackle barriers to the adoption and usage of transaction accounts
, which sit at the heart of retail payment services.
Pakistan's financial inclusion strategy is currently focusing on four areas including promoting digital transaction accounts
and reaching scale through bulk payments, expanding and diversifying access points, improving capacity of financial service providers and increasing levels of financial awareness and capability.
I first compare Child Benefit recipients across time to estimate the mandate's effect on the ownership of transaction accounts
, defined as bank accounts meant primarily for daily financial transactions rather than to store funds for later use.
Bluebird, the new prepaid card product being rolled out by Walmart and American Express, will provide banks and credit unions with additional competition in transaction accounts
In 2013 the first $12.4 million in net transaction accounts
will be exempt from reserve requirements.
It is important for businesses to consider that if they opt to convert their noninterest-bearing transaction accounts
to interest-bearing accounts, the account will no longer be eligible for unlimited deposit insurance coverage.
Bank Windhoek recently increased the life cover for clients with EasySave, Vibe or Transaction accounts
. The death benefit has been increased from N$3 600 to N$4 000 with effect from 1 September 2011.