Standard Bank Launches New Youth Savings Account

In order to get children to adopt a saving culture at an early age, Standard Bank Namibia has launched a new Digi Youth Account at a press conference in Windhoek on 1 July.

“As a bank, we believe that saving must start from an early age in order for youngsters to learn the importance of saving and at the same time continue with this trend when they become older. Through this account we look forward to creating a generation of responsible and financially savvy future leaders in the country,” said Baronice Hans, head of personal and business banking of Standard Bank Namibia.

The good news is the new youth account comes with a customised debit card, no monthly management fees, free cash deposits, you can open the account with a minimum of N$50 and stop orders can be linked to the account.

The new Standard Bank Digi Youth Account caters for existing and potential customers’ children aged from zero to 18 years old. The account provides easy access to savings accounts and allows for products to be added as the young person’s financial sophistication grows. The custom-made debit cards for the Digi Youth Account are readily available at all Standard Bank branches.

“Giving [young people] the power to control their spending and track money going in and out of their accounts will help build healthy financial habits. This will help them differentiate between a ‘want’ and a ‘need’ at the end of the day,” added Erna Kaura, liabilities manager of Standard Bank Namibia.

“It is imperative for us to always be giving our esteemed customers the best service by providing them with tailor-made and innovative products. This includes our children, as they will also become our future customers. This is a bond we cherish and an unshakable trust we share with our customers over the years,” said Hans.

The launch of the Digi Youth Account for children follows on from the previous successful launches of other innovative products like the Standard Bank Smart App and an enhanced customer offering to Prestige clients earlier this year.

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