Local bank encourages saving from a tender age
For saving to become an ingrained culture, it is important that financial literacy is extended to the younger generation and teaching them the real benefits of saving, said Hayley Allen, Head of Corporate Affairs at Bank Windhoek.
Allen added that teaching children about the value of money at a young age will give them an understanding of what it means to save, to do financial planning and budgeting and helps steer them away from bad or unnecessary debt when they become working adults.
“With the New Year and a new academic school year, parents can give their children a financial head start by opening up a Bank Windhoek Solo Account, a savings and transaction account tailor-made to the needs of children and young adults up to the age of 18 years,” Allen said.
The Solo Account comes with a Visa Electron Debit card, allowing children to shop at their favourite shopping outlets without the risk of carrying cash.
“Paying with their Solo Debit card at the Bank Windhoek point-of-sale devices also has carries the additional benefit no transaction fees for their purchase. Children can also choose their Solo card from our range of four funky Solo Visa Electron Debit card designs,” Allen said.
The Solo account will also offer the following benefits: No monthly service fees, free ATM withdrawals at Bank Windhoek ATMs and access to Cellphone Banking for features such as airtime top-up, EasyWallet and payments to beneficiaries. Furthermore it gives favourable interest on funds in the Solo Account, free balance enquiry and mini-statement at Bank Windhoek ATMs and debit- and stop orders can be linked to the account.
Caption: Hayley Allen, Head of Corporate Affairs at Bank Windhoek.