en     ru     jp
 
 
private banking
private banking
private banking
private banking
private banking
private banking
private banking
     
 
Home
      
Knowledge Base
      
Financial Glossary
      
Lifeline Account
       
 
Back

Lifeline Account

 Search definitions     
  Search  

Lifeline Account
A streamlined checking or Savings Account designed for Low-income customers.
    
These accounts Will usually have Low balance requirements and no monthly fees, and are offered by large banking institutions as a way to Offer basic banking services to the broad public. Some states Mandate that lifeline accounts be available within the state.
    
Basic features such as check writing Will be available, but Will typically be limited by a monthly quota. Other electronic services may also be limited unless the account Holder pays additional fees.
    
Lifeline accounts aim to bring all members of a society into the economy by encouraging saving and Long-term investing. Low-income citizens are often ignored in the economy because they don't have a lot of disposable income, but by fostering their Long-term financial health, they can become bigger contributors down the road.
Posted by  Privatebanking.com
 
  Back  
  Print  
  Email  

 

private banking
private banking
private banking
private banking
private banking
private banking
private banking

 
Home News Library Newsletters Event Calendar Advertise About Contact FAQ
Privacy Policy     Terms of Service
 

©