PPCBank, one of Cambodia’s leading commercial banks, has unveiled its newest market-leading product, designed to encourage children to learn the basics of managing their money while developing healthy savings habits at a young age.
PPCBank Introduces Digital Banking to Children Through New Junior Savings Account
The new ‘Junior Savings Account’ gives children access to digital banking services through the PPCBank Mobile App. It is available to anyone under the age of 17. After successfully opening an account on the PPCBank Mobile App, children have access to a limited range of financial transactions under the control of their parent or guardian.
Holders of a Junior Savings Account can check their balance in real-time, top-up, make payments and receive funds by KHQR and “Request Money from Parents”. Parents and guardians remain in full control, however, and are also able to monitor the child’s banking activities. They set spending limits via their own PPCBank Mobile App, and receive real-time notifications whenever the child makes local transfers or payments.
The PPCBank Junior Savings Account has been designed specifically with the needs of both parents and their children in mind, recognizing the importance of fostering good financial displine and a culture of savings at an early age. Children also have the opportunity to earn up to 1.5% interest per annum on their savings.
Learn more about the Junior Savings Account