FirstBank boosts children’s accounts ownership

First Bank of Nigeria Limited (FirstBank) has announced that its account products, KidsFirst and MeFirst, were created to encourage the right savings culture among children from zero to 17 years.

In a statement, the bank said KidsFirst Account is designed for children between the ages of zero and 12 to sensitise them on how exciting saving could be.

The account comes with a trendy gift item for the child when the account is opened with a minimum of N10,000. The account is automatically transited to the MeFirst account when the child is 13 years old. MeFirst account is designed for teenagers between the ages of 13 and 17. The account is created in recognition of the need to help teenagers embrace the culture of financial responsibility and cashless payment as they develop into young adults.

The bank also said MeFirst cards were enabled to pay for micro online shopping as desired – mobile games, apple music, Spotify and local POS transactions.

Parents and guardians are granted access to track and control the spending pattern of their children and wards.

Gbenga Shobo, FirstBank’s Deputy Managing Director, said, “Our KidsFirst and MeFirst accounts are designed to ensure that parents and guardians are able to have their wards exposed to the right savings culture and financial discipline as they evolve to adulthood.”