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give your child a financial head start

Wed, 14 January 2015 22:01
by online writer
Business

As a way to give children a financial head start in 2015, Bank Windhoek advices parents to open a bank account in order for them to learn how to use a bank account.

Parents can open a Solo account, which is a savings and transaction account tailor-made to the needs of children and young adults up to 19 years and if this account is opened between 17 January 2015 and 1 March 2015, they would stand a chance to win N$20 000 towards their children’s academic costs.

The Executive Officer of Bank Windhoek’s, Group Marketing and Corporate Communication Services, Marlize Horn said in addition to the chance of winning N$20 000 towards your children’s academic costs, the Bank Windhoek Solo account will teach them about the benefits of savings, expose them to the world of banking and give them the opportunity to manage their own bank account. “These are all important skills that will ensure that one day they become financially savvy adults who have adopted a savings habit and a broad understanding of banking from a young age”, said Horn.

A minimum deposit of N$100 is required to open a solo account including the child’s birth certificate if he/she is younger than 16 years or a Namibian ID, valid Passport or Driver’s License if he/she is older than 16 years.

The solo account has benefits such as your child being able to choose a card of their choice from Bank Windhoek’s range of four funky Solo Visa Electron Debit card designs and with their Solo Debit card, your child can withdraw cash, request a mini-statement or do a balance enquiry, all free of charge, at any Bank Windhoek ATM and your child may also use the ATM of another Bank for cash withdrawals at a reduced “foreign ATM withdrawal” fee to mention a few.