This account caters for institutions dealing with non-profitable ventures e.g. churches, self-help groups, public schools etc.
Social Institutions Accounts
- No operating balance
- No withdrawal charges
- Access to customized loans
- Multiple Approval Feature:
Equitel has introduced an innovative “multiple approval” feature that eliminates the need for account signatories to physically meet to withdraw cash or co-signing of cheques by signatories. Through the “multiple approval” feature users first originate a request to withdraw cash on their Equitel menu. The request is then sent to other account signatories who in turn enter their PIN to approve the withdrawal request. The “multiple approval” feature allows account holders to use their PINs as their account signatures. The new innovative feature has made it easier for chamas, joint account holders and similar users to transact by replacing signatures with individual Equitel PINs, thus eliminating the need for signatories to physically meet or sending cheques for co-signing by respective signatories.
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