Persona a6b7cd37dbd23d761f5e5d469eff6184197e7132e65d362d507e5cf0f18ec22a

I am least paranoid and least interesting, so I am not worried about people hacking me. Currently studying and works as an intern for 5-8 hours a day. COVID-19 didn't affect working hours. Money is being stored in two bank accounts, mobile money (MTN used most of the time, Airtel and Tigo only when it comes to sending money to someone in those Networks) and cash. Banking with Bank of Kigali and Equity Bank. Uses EazzyPay for money transfers, from one bank to another and from bank to Mobile Money.

📍 Rwanda  🏦 Bank  💸 Mobile Money  📱 Android  💻 Desktop/Laptop  ☁️ Google Drive (free) 

Profile & Work  
Location Rwanda
Job Student and Intern
Payment Frequency Monthly
Hours Per Day 5-8
COVID Impact on Working Hours No
Side Hustle No
Business Partners /
Dependents /
Technical Knowhow 6

STORE OF VALUE & PAYMENTS

Preferences  
Store Personal Bank Accounts, Mobile Money & Cash
Primary Store of Value Bank of Kigali Account
Spending Wallet Cash, MTN Mobile Money & Debit Card
High Value Transactions Cash
High Value Unknown
Digital Banking EazzyPay, USSD Digital Banking
Preferred Payment Method Cash
Fee Concerned about fees, so avoids using Mobile Money
Money Management Strictness Not at the highest level
Money Mindset Experiencer

Behaviors

Cash is least preferred because there is a tendency to misuse it, but still spendings are planned in advance and daily payments are done with cash. When there is no cash “gets lazy” and won’t be bothered with transfering money from bank account to Mobile Money and takes into consideration fees that will be charged for those transactions.

Everytime I have cash on me I get tempted to spend it, but when it’s on my account I get lazy to withdraw it or, I think of the charges it will cost me.

Claims; even when it comes to bigger transactions prefers to find the product and withdraw money instead of using Mobile Money in order to avoid being charged. Except when it comes to online shopping which is done with a card.

Shops online at the following:

  • Aliexpress
  • Ebay
  • Amazon
  • Food delivery from local online shops
PAYING FRIENDS & FAMILY
  • When it comes to sending money to friends and family it is done through the bank account, mobile money or cash.
  • Sends mobile money to an older relative via Tigo money.
  • When taking loans from other people, payback depends on the [loose] agreement with the individual.
  • Receives primary income as a cheque.
CASHING SALARY CHEQUE
graph LR 1(Receive Cheque from Employer) --> 2(Cashes Cheque) --> 3(Deposit at Equity Bank Agent) --> 4(EazzyPay: Tranfers money to Bank of Kigali account) 2 --> 3.1(Deposit at Bank of Kigali)
  • Same bank transfers are done through Bank of Kigali account, because large amount of money is usually there.
  • Bank of Kigali is the main account and holds the largest amount of money
  • Most preferred bank is Equity because it’s more flexible, has more agents and it has easy access.
  • Another advantage of banking with Equity is no need for an app, money can be transferred to Mobile Money through EazzyPay.
TRANSFERING MONEY FROM EQUITY BANK TO MOBILE MONEY
graph LR 1(Equity Bank) --> 2(EazzyPay/USSD) --> 3(Mobile Money)

When it comes to transferring money from Equity Bank to Mobile Money everything is being done through USSD. In order to do that phone number needs to be connected to the bank account.

TRANSFERING MONEY FROM BANK OF KIGALI TO MOBILE MONEY
graph LR 1(BK) --> 2(BK app) --> 3(Mobile Money) 1 --> 1.1(No app) --> 1.2(BK agent withdraws the cash) --> 1.3(Mobile Money) 1.1 --> 2.2(BK agent withdraws the cash) --> 2.3(Equity Bank) --> 2.4(EazzyPay/USSD) --> 2.5(Mobile Money)

You need to download BK app and from that app you send it to Mobile Money, if you don’t have an app you can only transfer it to another Bank Account in this case Equity Bank and from there you can put it on Mobile Money.1

Conveniences

  • Cash, as there are no fees
  • Equity Bank, as it is easy to access, no need for downloading an app, more agents available, more flexible.

Frustrations

Fees for making transactions over Mobile Money seems to be a problem. People using MTN might not be willing to switch to another provider because that will cause problems with communication with other people.

Money Management

Checking balance as a way of keeping track of all accounts.

Tends to not monitor spending, because of the tendency to overspend and feeling bad because of it

That I can never keep track of how much I’m spending. I’m an over spender, so if I keep track I will go into a depression. Ye, thats why I stay away from it.

If I want to know how much I have I just check the balance. I just check my online shopping cart and the stuff I’m expecting to get to me and I know how much I spent.

Diary Study: Money Moves

Starting Balances

  • 500 RWF on Mobile Money (airtime)
  • 10.000 cash (budgeted for personal stuff next week)

Transactions

Privacy, Security & Backups

TECH SPECS  
Phone Model Infinix
Phone OS Android
SD Card No
Previously Lost Phone No
Desktop/Laptop Yes
Email Address >1
Cloud Provider Google Drive
Cloud Storage Capacity 15 GB
Storage Cost Free
Out of Space Warnings Yes

Behaviors

  • “Android fan through and through”, has an Infinix smart phone, but wants to upgrade to Samsung.
  • Using fingerprint as a security measure on the phone.
  • Not really cautious when it comes to security.
  • Contacts backed up on Gmail, photos and videos on Google drive.
  • Likes downloading apps from Google Store, mainly reading apps that are not available on iPhone which is the main reason why thinks Android is better.
  • Mostly downloads apps; Reading apps, Social media, Workout apps, Food delivery
DATA MIGRATION

Never lost a phone before, because it’s always around. Has previously lost contacts and photos but when that happened the phone was been changed or was damaged.

If I have to change a phone or my phone dies and I have to recover my contacts and it’s so hard, before I didn’t know how to save it on my email, but now I can recover it if I change phones.

  • Manages multiple email address.
  • When the phone’s “Out of Storage Warning” comes up another email account is created to get free 15gb cloud storage.

Conveniences

I actually like signing up with my phone, because if I forget my password I will just have to put in my phone number and maybe they will fix that, I don’t know… I am least paranoid and least interesting, so I am not worried about people hacking me.

  • Android phones, as it has apps that iPhone does not have.
  • Signing up with a phone number, because apps just send an SMS to verify, so it’s done itself automatically.

Frustrations

If it’s a workout app, why do I need to sign up? I am not going to call anybody, I am not going to chat, I just want to see your programs.

Signing up with an email is also frustrating because you have to go back to the email and find the link they sent you.

  • Loses interest when an app requires a sign up, unless it’s social media
  1. When it comes to transferring money from Bank of Kigali to Mobile Money it seems like a long and tedious process for some people.