No ID means that they could not open a bank account because it is one of the KYC (Know Your Clients) documents required by the Bangko Sentral ng Pilipinas when opening a bank account. It is one of the main reasons that NWTF issue clients their first ID Cards as proof of identity. Using their Project Dungganon ID, clients can then apply for an ATM debit card from Dungganon Bank, a microfinance rural bank owned by NWTF.
With the Dungganon ATM debit card, instead of issuing the client a check for her loan, NWTF deposits the full amount into her ATM account, which she can then withdraw as needed.
This eliminates the need for her to encash her check in commercial banks that often charge encashment fees, or to rediscount the check at a local merchant who also charges a percentage of the check amount. In both cases, the client ends up carrying out a large amount of money, which she either spends right away or carries home.
Bu hikaye Gadgets dergisinin March 2020 sayısından alınmıştır.
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Bu hikaye Gadgets dergisinin March 2020 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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