Hi Aki, The account is not a suspense account but a trust account i.e. the money is held in trust and the trust entity should be independent from Safcom. Any money held in trust does not earn interest and cannot be used up by the bank to invest not even short term lending. That's the only safeguard you have that your MPESA money is intact. On Wed, May 19, 2010 at 9:28 AM, aki <aki275@googlemail.com> wrote:
@Mash, asante. Can I use a suspense account to borrow against say eg If the input is say eg Ksh 100million/month while the outgoing is Ksh 70 million/month, since I have access to the account and can see what is held in retention, can I use the Ksh 30million on a borrowing/revolving basis?
On Wed, May 19, 2010 at 9:09 AM, Mash <kihahu@gmail.com> wrote:
@aki, in most cases, such accounts are refered to as suspense accounts and most do not earn any interest.
[image: Google Talk:] kihahu [image: Google Wave:] kihahu [image: Y! messenger:] johnkihahu Contact Me [image: Blogger] <http://www.kihahu.blogspot.com/>[image: Twitter] <http://www.twitter.com/kihahu>[image: Wordpress]<http://kihahu.wordpress.com/>
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Server donations spreadsheet
http://spreadsheets.google.com/ccc?key=0AopdHkqSqKL-dHlQVTMxU1VBdU1BSWJxdy1f... ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke