Given how important financial skills are to navigating life, most children in our nation do not get this education early enough in life. The Savvy Kids account offers young people an opportunity to learn from a young age how to manage their own finances. The account is easy to open, manage and does not carry any monthly service charges. Guardians can start saving for their children from an early age, while older children can open accounts under the supervision of their guardians and get a debit card
- Parent’s ID.
- Parent’s proof of residence.
- Child’s birth certificate (or ID for 16 year olds).
|Target Age Group||0 -12 years|
|Currency||All Approved Currencies|
|Minimum Monthly Balance||$5|
|Maximum Balance||No Limit|
|Deposit Frequency||No Limit|
|Cash Deposit Fee||FREE|
|Stop Orders and Direct Debits||Applicable|
|Withdrawal Frequency/Conditions||1 free withdrawal per quarter|
|Withdrawal Fees||Above free withdrawal, 0.05% of amount, minimum of $1.|
|Interest Payment Frequency||Quarterly.|
|Monthly Maintenance Fee||Nil.|
|Delivery Channels||Branch, Internet Banking, EcoCash Banking Services|
NB: Free account with nil service fees. Withdrawals are limited to over the counter at Steward Bank Branches.
- Account opened in the name of the child and operated by Parent/Guardian.
- eAlerts to Parent/Guardian.
- EcoCash Banking services (for deposits only).