Windhoek
For saving to become an ingrained culture, it is important that financial literacy needs to be extended to the younger generation, to teach them the real benefits of saving.
Teaching children about the value of money at a young age will give them an understanding of what it means to save, do financial planning and budgeting and steer 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 18 years.
In this regard, Bank Windhoek’s Solo account offers no monthly service fees, free ATM withdrawals at Bank Windhoek ATMs, access to Cellphone Banking for features such as airtime top-up and payments to beneficiary, favourable interest on the funds in the account, free balance enquiry and mini-statement at Bank Windhoek ATMs and debit- and stop orders that can be linked to the account.
The Solo account also comes with a Visa Electron Debit card, meaning children can shop without the risk of carrying cash at their favourite shopping outlets by paying with their Solo Debit card at the Point-of-Sale (POS) devices (no transaction fees payable on Bank Windhoek POS devices).
Children can also select a Solo card of their choice from Bank Windhoek’s range of four funky Solo Visa Electron Debit card designs.
“Teaching children about the value of money at a young age will give them an understanding of what it means to save, do financial planning and budgeting and steer away from bad or unnecessary debt, when they become working adults,” says Riaan van Rooyen, head of corporate communication and social investment at Bank Windhoek.