Liquidity is a solid idea
Now you can use a debit card from Sanlam to manage your money in an everyday account while earning the high interest rate of a money market fund.
Sanlam says its newly launched card is different because it offers liquidity.
"We believe people want the liquidity of a money market account, the interest rate offered and the functionality of a bank account, and this is what we've decided to give them," says Susan van Staden from Sanlam Personal Finance strategic business development division.
When you open a Sanlam Liquid account, your deposits are invested in the Sanlam money market fund to give them better returns.
The card can be used at any point of sale terminal or ATM where the Visa Electron or Saswitch signs are displayed.
Card holders must have a minimum balance of R1000 in the account at all times.