BAC cardMiCrédito is proud to offer a new product that will enhance flexibility, reduce risk and increase convenience for their clients. MiCrédito has partnered with Banco de America Central (BAC) to provide access to the formal financial banking system to their clients, through providing BAC Debit Cards and a chequings account to every client that takes a micro-credit loan with MiCrédito. Clients are ecstatic to finally be provided with the opportunity to open a bank account. Previously, many MiCrédito clients and in general, those individuals that are living below the poverty line, here in Nicaragua, were unable to open an account with regulated financial institutions until now, as they required the client to fullfill numerous regulations that proved to be too challenging to overcome. 

UbaldoFor example, the MiCrédito-BAC account does not have a minimum balance that clients must keep in their account, at all times. Most other accounts, even within BAC, require at minimum a $200 USD minimum balance. This requirement is simply to high for those small businesses owners or famers who need to use the majority of their income to invest back into their inventory or seeds. 

Financial Inclusion & Saving 
This debit card signifies both true financial inclusion and the opportunity to save in a safe place. Clients can now save for emergencies and rather than putting their money under the mattress or in a piggy bank, clients are given the opportunity to save in a respectable manner - in a regulated chequings account. Clients are very excited about this unique oportunity. Many have said that they are "Proud to use plastic!" Also, one client explained that they now feel like they are saving with respect and diginity."

“I am proud to be using plastic!“ — MiCrédito Debit Card Client, 2012

“I can now save with security, dignity and respect.“ — Female MiCrédito client with BAC Debit Card Product, 2012
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