Venezuelan bank Banesco Banco Universal (BBU) has launched an electronic account for clients who prefer to use debit cards and pay bills online, Venezuelan daily El Nacional reported.
"There are no maintenance charges because account holders do not use balance books or checks. The account number is the same as the debit card number," BBU new products executive VP Alberto de Armas said.
The electronic account is also ideal for companies that hold accounts on behalf of their employees. The employees no longer need to deposit checks in person, and the company can assume the cost of mailing balance statements.
BBU offers the account as a parallel alternative alongside its Despegue, Crecimiento and Anos Dorados accounts aimed at young adults, middle class adults and pensioners, respectively.