Electronic savings account services (eSavings account) have opened for public use at Co-operative Bank (CB), according to CB’s deputy general manager, Zeyar Kyaw.
The eSavings account is similar to a savings deposit account, except that it sends the banking process to the customer by mail or e-statement. Customers who use the service don’t have to visit the bank to withdraw cash or make payments, said Zeyar Kyaw.
The eSaving account package includes interest, an Easy Smart MPU card, mobile banking services, eStatements and eAlert services. The interest rate is the same as for savings deposit accounts, and the eSavings account has all the functions and services of a savings deposit account.
Moreover, mobile banking services such as payments, transfer of accounts, withdrawals, cash transfers and checking balances with MPU cards and ATMs, are available via mobile phones.
CB is a publicly-owned bank with more than 60 branches nationwide. The bank is linking with foreign banks to do business with local financial institutions, including foreign money transfers such as telegraph transfers and letters of credit.
Source: ELEVEN Myanmar