Benefits & Features

• Why are the Beneficiaries changing to this system? What are the benefits?

Overall, it is much more convenient for you: easier access to your money, increased security as you can use your bank account as a savings account instead of having the cash at home, reduced waiting times – there is no need to go to the public bank anymore as you can withdraw any amount you want from any ATM at any time; and access to additional financial products and services such as loans, mortgages, online banking, savings account, etc.

• When can government employees expect to start using MyAccount? 

All public sector beneficiaries will be onboarded to the MyAccount project and can start using their private bank account within the next 24 months. Please check the official program website for the onboarding time schedule. You will also be informed shortly before your unit is due for onboarding

• What is a debit card and why should beneficiaries use it?

Some of the advantages of having a debit card include:  

- Convenience: Debit cards allow you to easily withdraw your salary at the ATM, and make it easy to access your money without carrying cash. You can use them anywhere.

- Safety: Debit cards are safer to carry than cash, as they can be replaced if lost or stolen.

- Budgeting: Debit cards make it easy to keep track of your spending, as transactions are directly debited from your account and appear on your bank statement.

- No interest charges

- Easy access to cash: Debit cards can be used to withdraw cash from ATMs