The e-zwich card has four wallets (also known as account types). These are; Primary wallet (i.e. current or checking account); Savings Wallet (i.e. Savings account); Transport Wallet (special wallet for quick payment) and Secondary wallet (i.e. Joint or shared account). Funds maintained in the Savings wallet may attract interest based on the rate payable by the issuer bank. Interest is calculated daily by the switch and credited at the end of the month to the client card´s host balance this interest shall be loaded either manually on the POS using the code and amount (offline) or automatically through a communication network (Online).
Cash withdrawal involves the reduction of the electronic value stored on an e-zwich card in exchange for cash. This transaction can be done at any e-zwich / hybrid POS or ATM. Cash withdrawal transactions are Offline transactions and can therefore be completed anywhere in the country. The process involves the authentication of the cardholder and the update of the funds on a client card by the POS or ATM. There is currently no limit to how much can be withdrawn from an e-zwich card except where the client has placed a limit during enrolment.
Cash deposits can be done at any bank regardless of the bank that issued the client card. Keeping money on an e-zwich card is the same as keeping it in a bank account. The funds deposited on a card remains on it until it is used at a POS or ATM. There is currently no limit to the amount of money that can be deposited on the card. There is also no fee charged for this transaction. Cash deposit is typically done by a bank Teller or some selected merchant locations. Money deposited on an e-zwich card is protected by the biometric data (fingerprints) of the cardholder.