**Account use.** Figure 3 shows patterns of account use over time for the payroll account and account only groups for the first six months post treatment.<sup>36</sup> The figure is based on administrative data, so that there is no scope for interviewer demand effects. The figure reveals that employees assigned to the payroll account treatment use their account more actively than employees assigned to the account only treatment group. Figure 3, panels (a) to (c) show that they make more withdrawals, more deposits, and more send-money transactions.<sup>37</sup> The observation that employees in the payroll account group use their account more frequently overall (Figure 3, panel (d)) is in part mechanical, given that workers in this group receive their wages into the account and make withdrawals to cover daily expenses. In Figure 3, panel (e) we therefore exclude withdrawals and show that employees in the payroll account treatment condition use their account much more actively, even when we consider only deposit, payment, and send-money transactions.<sup>38</sup>

Table 3, reports treatment effects on account use. The dataset we use for this exercise is a panel that records the universe of transactions for all participants who received an account as part of our study. Because administrative data is not available for the control group, and we are most interested in a comparison of the payroll account and account only groups, our analysis uses the fact that treatment date was staggered over time and randomized at the individual level. We define a time-varying treatment indicator for each account in the data that is equal to zero prior to account opening and equal to one thereafter. This allows us to estimate treatment effects for the payroll account and account groups. Table 4, panel A uses dummy variables for all outcomes, so that the treatment effect estimates can be interpreted as the share of workers in each treatment condition that made a given type of transaction. we account for multiple hypothesis testing by reporting sharpened q-values in brackets in Table 3 and subsequently (Anderson, 2008). Sharpened q-values are calculated within data source, that is, separately for administrative and survey data.

The results in Table 3, columns (1) to (6) confirm that engagement with the account is significantly higher for workers in the payroll accounts group, who received an account with monthly direct deposit wage payments. Workers in the payroll account group are 59 percentage points to make a transaction through their account (p-value=0.000). In a given month, workers in the payroll account group are 58 percentage points more likely to make a withdrawal from their account (p-value=0.000), only one percentage point more likely to make a deposit (p-value=0.171), and 27 percentage points more likely to make a send-money transaction (p-value=0.000) than workers in the account only treatment condition. In Table 3, column (5) we report total transactions excluding withdrawals to ensure that the higher overall engagement with the account in the payroll account group is not simply result of workers mechanically having to withdraw their salary. The

> 36Note that account opening occurred in several phases and was staggered over time, so that the figure shows months since account opening, rather than calendar months.

> 37In our setting, sending remittances through the conventional banking system is prohibitively expensive, so that the send-money and payment transactions in our data are all made using mobile money accounts.

> 38The size of these effects naturally differs between bank and mobile money accounts. We report descriptive statistics by type of account in the appendix.

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