Open A Bank Account
Add to cart
Millions of men and women in developing nations are illiterate. Therefore fInancial illiteracy is a given. Small amounts of cash are often horded in their house or given into safekeeping to a relative. Amcariza's founder Yasmin was recently distressed to come across a woman who had lost her savings in this manner. When asked whether she has ever thought about opening a bank account, the reply was "but I am too poor and illierate. I feel intimidated to open a bank account. After all, isn't that for rich people?"
Yasmin explained that bank accounts could help empower an individual and their family becasue with correct financial planning and the 80:20 rule (where you spend 80 and save 20) - money would be there for a rainy day. And even if the person were to die or fall ill, there is a safe means to collect the money. Amcariza FFABB Bank Account project will cost as follows: Total - £30 Fixer fee (to process the bank forms and translate) Initial savings Transport costs Completion of bank account Photographs of the account holder (often intimidating for women).