Wing and J Trust Royal Bank Launch ‘Micro Savings’ to Help Every Cambodian to Open Formal Bank Accounts
Now you can open a J Trust Royal Bank Savings Account with just $5 and earn high interest rate using Wing Money App in Minutes and access it anywhere, anytime using Wing App and Agents
WING (Cambodia) Limited Specialised Bank and J Trust Royal Bank recently partnered to offer a pioneering product enabling their customers to open savings accounts and enjoy higher interest rates through Wing Money App with just a few swipes.
“Saving money is important in every stage of our lives as it helps to protect us in an event of a financial emergency, and to some extent, it leads us to a greater sense of financial freedom,” said Manu Rajan, CEO of Wing. “This product from J Trust Royal Bank is designed specifically for the unbanked Wing customers in Cambodia. They can start their Savings Bank account with as little as $5 at a time and accumulate it to earn high Interest Rates. We are confident that this product will let Wing customers reap greater benefits from their account in an efficient, secure and convenient manner.”
This new offering from Wing and J Trust Royal Bank is the first ever product in the local mobile payments market that help every Cambodian with a valid ID to open a formal Bank Account with the click of a few buttons on the Wing App. The customers can earn interest on the money that they keep in their J Trust Micro Savings account and access it anytime, anywhere using the Wing App. As a special initial offering, customer deposits in the Micro Savings Account will also earn the special interest rate of 1.35% p.a.
Availing this product is simple and very convenient. Wing customers simply need to open the Wing app on their phone, access the Savings product button and choose the deposit amount they prefer. The minimum initial deposit needed is just USD 5 only. Instantly their savings will start generating interest. The amount can also be cashed out anytime by transferring it back to their Wing Account and cash out from any of the 7500 Wing Cash Express Agents. Transferring money from a Wing Account to J Trust Royal Bank account and vice versa takes place easily, securely and instantly.
“J Trust Royal Bank’s commitment is to make quality financial services widely accessible in Cambodia,” remarked Toru Myochin, CEO, J Trust Royal Bank. “It is our privilege to be working with Wing on this innovative offering that is a first in the market.”
This innovative product by Wing was made possible through the support of J Trust Royal Bank. A joint venture of J Trust Group (Tokyo) and the Royal Group of Companies, J Trust Royal shares the same financial inclusion aspirations with Wing and honors its vision of providing every Cambodian with convenient access to mobile financial services for the improvement of their daily lives.