Old Mutual Money Account, Saving as You Spend

Old Mutual is a revered business organisation across South Africa’s business landscape.Established in 1845, Old Mutual is an international investment, savings, insurance and banking group.With such a long history,this institution has gone on to be an FTSE100 listed company and has more than 16 million customers and approximately 293.8 billion assets under management.

The many years of market experience has also taught Old Mutual that that many individuals and families find saving such a hard task to undertake.It is a fact that quite often you will be confronted with debts,groceries and day to day items to pay for,not to mention other little needs.There are also those unexpected expenses that creep in like a faulty fridge,car service or emergency trip to the dentist.This is where the power of saving comes.In order to assist in this regard,Old Mutual introduced the Money Account.

The Old Mutual Money Account offers you two accounts. A fully transactional SWIPE account which is offered in association with Bidvest Bank Limited and a SAVE account offered in association with OMIA. The SAVE Account funds are invested in the Old Mutual Money Market Fund Unit trust. With an Old Mutual Money Account, every time you swipe your card,an amount set by you is invested in the Old Mutual Money Market Fund Unit Trust so that you can grow your savings.You will also get free access to online purchases, inter account transfers, unlimited point of sale swipes, top security and much more.

Money Account has useful tools in place which can automatically save for you.You can choose to set the Swipe and Save feature and add to your Save account every time you swipe your card.You can set your Swipe and Save percentage to be anything between 1-15% of your total daily spend. Under Focused save,you can choose to have a fixed amount automatically transferred from your Swipe account into your Save account. A good idea would be to set your Focused save date to the day you get paid so that there is always money available for this.

Old Mutual can be contacted on 0860222252.