Riaan van Rooyen, Head: Corporate Communication & Social Investment at Bank Windhoek.
The Villager Newspaper
Bank Windhoek encourages parents to begin teaching children about personal finance at a young age.
“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: Corporate Communication & Social Investment at Bank Windhoek.
Bank Windhoek offers a Solo account, which is a savings and transaction account tailored children and young adults up to 18 years of age, that can be used to teach financial literacy.
“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,” Bank Windhoek stated in a press release.
The Solo account offers no monthly service fees, access to cellphone banking, favourable interest rates, the ability to link debit and store orders to the account and free withdrawals, balance enquiry and balance ministatements at Bank Windhoek ATMS. It also lowers the risk of children carrying money as they can shop using the Visa Electron Debit Card linked to the account.