SPONSORED: South Africa’s only real-time forex bank account has now been launched, addressing the dual problems of cheaper transaction fees and 24/7 viewability and access. | Discovery_SA
A recent survey hosted on News24 found that while 83% of adult respondents did not have a forex bank account, 89% would open a new account if it was quick, easy and cost-effective.In the survey hosted on News24 in February, only 17% of respondents indicated they had an active forex bank account. Three of the major reasons cited by the other 83% for not owning an account was either the amount of admin involved , it being too expensive or their bank didn’t offer one .
Hylton Kallner, CEO of Discovery Bank says the company felt a full forex capability was a key requirement in an increasingly global environment, with one thing top of mind for clients: convenience. "This is just one of many enhancements to our product and feature line-up that we’ll be introducing over the course of the year. We have built this offering around convenience so clients can manage their forex transactions alongside their other Discovery Bank accounts.
"With our technology advances operating in the background, clients will know the exact transaction rates and costs, and will not be burdened by complexities of conversation rate changes, additional fees or exchange control tracking. It will all be calculated in the background and clients will have a clear view of every forex transaction on a real-time platform for all their forex needs," says Kallner.
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