Ecobank introduces ‘Save as You Spend’ account for saving culture promotion

By Chisomo Phiri

One of the country’s popular financial institutions, Ecobank Malawi has on Tuesday unveiled Save as You Spend Account, which allows customers to automatically save a percentage of their spending transactions.

According to the bank’s head of consumer banking Sophie Kalambule, the account is designed to help customers build up their savings while they spend on everyday needs.

“Customers can choose to save between one percent and 10 percent of their spending transactions, which will be transferred from their current account to their Save As You Spend Account,” she says.


Kalambule says the product is part of Ecobank Malawi’s commitment to promoting a saving culture and assist customers to achieve their financial goals.

She adds: “This is a simple and convenient way for our customers to save money while they spend.

“This is a unique and innovative savings account that automatically debits up to 10 percent of every transaction you make; hence, help our customers save effortlessly as they spend on their daily needs.”

Kalambule highlights that the account, with zero monthly fees, will enable customers to enjoy the benefits of saving such as earning interests, securing their future and accessing credit.

Ecobank Malawi is part of the Ecobank Transnational Incorporated, the parent company of the Ecobank Group that operates in 35 African countries.