Empower cash recipients by helping them open their own formal financial account for the first time.
Formal financial accounts offer convenience, choice, and dignity while promoting financial inclusion, safety, and long-term resilience. This tool outlines the advantages for people having their own accounts for receiving cash transfers. It also outlines common risks and pitfalls – and some ways to avoid them. It further outlines ways for humanitarian/development actors to incentivize account opening, and steps organizations can take to support people who open an account for the first time.
