UNAYO FOSTERS FINANCIAL INCLUSION- STANDARD BANK ESWATINI

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• Unayo is a Standard Bank digital account that you can access on your mobile phone. You only need to have a registered cellphone number to open an account. The account does not have monthly maintenance fees.
• The Unayo account is not limited to Standard Bank customers; it can be opened by anyone. People without a bank account can also open an account in 3 minutes.
• Unayo account holders can also send money freely to anyone with a cellphone number. Unayo supports both MTN Eswatini and Eswatini Mobile.

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Photo Credit:https://unayo.standardbank.com/

By Ntokozo Nkambule

Standard Bank Eswatini says the inspiration behind the introduction of the Unayo Account is to help improve financial inclusion in the country, as well as make banking easy, and accessible. This was disclosed by the bank’s Head of Brand & Marketing, Sibusile Sigwane, during the ‘Standard Bank Blue Label Talks’, which is an online platform used by the bank to talk about their products and services.

Unayo is a secure Standard Bank digital account that you can access on your mobile phone, which makes it easy for emaSwati to transact easily wherever they are. Sigwane noted that introducing the Unayo product in the country falls in line with their digital and financial inclusion strategy. “As part of our digital and financial inclusion strategy, we found it imperative to bring to the market a product that was going to be financially inclusive, and also accessible. It is important to state that Unayo is free to use, and customers will not incur monthly charges when using it. It also brings us joy to know that emaSwati will now be able to easily save, store and transfer money without carrying physical cash” she noted.

“As part of our digital and financial inclusion strategy, we found it imperative to bring to the market a product that was going to be financially inclusive, and also accessible.

It is important to state that Unayo is free to use”

The bank’s Head of Unayo, Vukani Dlamini who was part of the talk, broke down and explained in detail what Unayo entails. “Firstly, Unayo is for all emaSwati, an account can be opened by anyone in three minutes. The Unayo Account is not limited to Standard Bank customers but can be opened by anyone. The Unayo Account is also open to those without any bank accounts. As long as you have a registered mobile number, then you can open an Unayo account. I must also state that this applies to both MTN Eswatini and Eswatini Mobile” he noted.

Some of the Benefits of Using Unayo Account

• The Unayo Account does not attract monthly maintenance fees.
• No KYC is required, all you need is a registered cellphone number and national identity document.
• Checking your account balance is free.
• EmaSwati can use Unayo to transfer money to other bank accounts.
• You do not have to withdraw your funds from your wallet, as you can purchase goods and services using funds in your wallet.
• Users can also buy airtime and electricity units, freely.

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