AMENDED FSC SERIES FS700-BANKS
Detail for AMENDED FSC SERIES FS700-BANKS
- THE SCORECARD
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Access to Financial Services |
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Access Method |
Qualifying Market / Arear |
Qualifying Criteria |
Range |
Target |
Available points |
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2.1 |
Geographic Access (Reach) |
One or more of: |
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6 |
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2.1.1 |
Transaction point |
50% or more of house-holds fall within LSM 1-5 |
draw cash, or |
5 km |
85% |
1 |
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purchase from their accounts |
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2.1.2 |
Service point |
reset a PIN |
10 km |
70% |
1 |
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money transfers, |
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get a statement, or |
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Initiate account queries |
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2.1.3 |
Sales point |
replace a card, |
15 km |
60% |
2 |
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deposit cash into their accounts, or |
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acquire: |
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a transaction account, a funeral policy, |
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a savings account, or |
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a loan. |
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2.1.4 |
Electronic Access |
Individuals earning less than R5,000 per month increasing by CPIX p.a. |
The use of telephones, mobile phones, internet banking or any other new technology for: money transfers, account to account transfers, prepaid purchases, balance enquiries (list not exhaustive). |
National |
19% of account holders within the target market |
2 |
98
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2.2 |
Banking Densification |
Individuals in the LSM 1-5 group nationally |
Access to cash withdrawal facility per measuring unit |
National |
1, 500 adults per point of presence |
3 |
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2.3 |
Product related access |
Individuals in the LSM 1-5 group nationally |
Number of active accounts for qualifying products per institution |
National |
12 370 082 active accounts in 2017 (SASSA accounts not included) |
3 |
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Total |
12 |
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