Low-cost banking coming to SA
It seems that all the banks are trying to break into the low-income market with the new Mzansi Account. It is a positive trend, but I still don't thinnk that banks are doing anything serious to alter their approach to the poor. To me, it seems like a PR excercise to attract more people to banking, rather than providing a product that actually helps.
posted by Nick at
1:18 PM
5 Comments:
As far as I know this is becoming a problem even in the so-called first world. When I was in UK as a PhD student two national banks refused to open an account, even though I had a scholarship. So much for credit scoring and for the so-called "student accounts".
Nice to meet you, by the way. I have recently been in South Africa (johannesburg) and I would like to go back. Very nice and interesting place.
e. n.sanders
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