FMB has launched a new promotion, Switch to Convenience and Simplicity, where K1 million is up for grabs.
The promotion was launched on Monday this week and will run up to August 31 and is targeting new customers who do not hold accounts with the bank.
Speaking during the launch, FMB Marketing Manager Widdey Nsona said the promotion is another way of creating a wider clientele base through various products that the bank has.
“The bank offers different products that are unique to the bank. For example, Zili M’manja promotion allows recipients of a cash transfer to receive their money even if they have not opened an account with the bank. So long as they are near one of the 59 ATMs that the bank has situated across the country” Nsona said.
He further added that the promotion also targets to support the financial inclusion agenda being advocated for by the Reserve Bank of Malawi.
“People do not know the importance of opening bank accounts because of lack of incentives. So with this new promotion, the monetary prizes that have been set are there to raise awareness of opening bank accounts while using the cash prizes that are up for grabs” he said.
Participants in the competition stand a chance of winning K1 million for first place, K500,000 for second place and K250,000 for third place with consolation prizes comprising of T-shirts and caps, among others.
To enter the competition, customers need to open an account with the bank and maintain a minimum of K50,000 for a current account and K25,000 for a savings account throughout the duration of the promotion. Upon opening an account, customers are required to register for First Mobile and pay any utility bills and are thus entered into the competition