How the MyWORLD App can make student life a little easier
February means 'back to campus', whether you are studying from home or attending classes. Either way, you have to budget for textbooks, stationery, and food.
Since you're already juggling so much, from classes and assignments to your social life, you want your banking to be as simple as possible. Here's how you can use MyWORLD to budget better and manage your finances.
Take advantage of PowerPocket features
Opening a MyWORLD account gives you access to a Primary Account and two types of pockets — a Power Pocket and a Savings Pocket. Up to five Pocket accounts can be opened under your main account. That gives you a total of six accounts, with no monthly account fees. You can name each Pocket to reflect the part of your budget it will cover – textbooks, for instance. Each Power Pocket allows you to use a debit card, dedicated to that Pocket, which is linked to your Primary Account. This way you can see which Pocket or expense is using up more of your budget.
Share with your friends
If you have close friends who are also keen on budgeting, you can deposit money into one of your Power Pockets as a group. It’s a good way to pool resources, and you can do all of this digitally.
It makes it so much easier to afford that group vacation you have started planning for the end of the year. You can elect one person to be the Power Pocket User, who will keep tabs on everyone's contributions. The User can also get a debit card for the account, which they can use to buy supplies when the time comes. The rest of your squad can be given Member status, which will allow them to view the group’s progress on their phones.
Bank online and on-the-go!
Banking online with MyWORLD means you never have to worry about fitting a trip to a branch into your schedule. Instead, you can access your bank accounts whenever you need to, and customise the process to suit your circumstances.
Say, for example, you start a transaction on your phone using the African Bank App. If for whatever reason, you cannot complete the transaction at that time, you can always log off and return to it later. You don't even have to use the same device or platform. Even though you started on the App, you can finish the process via online banking on your laptop, or even with a phone call to the African Bank contact centre. It's perfect if you have a lot going on and need to multi-task as you juggle your studies and finances.
You're never too young to start taking charge of your money. In fact, the university is the perfect place to start. The best lessons learned here will add value to your life in the future.
Opening a MyWORLD bank account is the perfect first step.