Expat Savings in Bolivia

Advances in technology are revolutionizing savings in Bolivia. Banks are instituting lockboxes with programmed alarms that have daily reminders, which can only be disabled by depositing money. The already familiar concept of the lockbox is incorporated into alarms much like cell phone text messages except that it is more effective for individuals without cell phones. Savings in Bolivia are being encouraged thru a programmed savings account that gives incentives when deposits are on time. They used text messages to send reminders to clients experimenting on different incentives like higher interest rates or free life insurance premiums to find out which ones will work the most.

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