Wednesday, November 18, 2020 / 05:20 PM / by First Bank / Header Image Credit: First Bank

First Bank ofNigeria Limited, Nigeria's premier and leading financial inclusion services provider has announced its variant account products - KidsFirst and MeFirst - created to encourage the right savings culture among children from 0 - 17 years. The offerings have relevant enhancements including appropriate parentalguidance and financial discipline for children as they grow into adulthood. Both accounts can be opened with zero balance and operated with a minimum balance ofN100.00. 

KidsFirst Accountis designed for children between the ages of 0 and 12 years to sensitise them on how excitingsaving can be. The account comes with a trendy giftitem for the child when the account is opened with a minimum of N10,000.00. The accountis automatically transited to MeFirst account when the child is 13 years old.  

MeFirstaccount, on the other hand, is designed for teenagers between the ages of 13 and17.  This account is created in recognition of the need to help teenagersembrace the culture of financial responsibility and cashless payment  as they develop into young adults. They have access to attractive and trendy pre-paid cards through which parents/guardians can credit weekly/monthly allowance and monetary gifts. MeFirst account holders can select from 5 exciting card design options that suites their trendy style.  

The Mefirst cards are enabled to pay for micro online shopping as desired - mobile games, apple music, Spotify and local POS transactions as well. Teens are thereby exposed to the cashless culture and electronic payment activities early in life, which is expedient in today's digital age. Parents and guardians of the child are granted access to track andcontrol the spend pattern. 

Speaking on the accounts, Gbenga Shobo, FirstBank's Deputy Managing Directorsaid, "we are delighted with the role we play in promoting financial literacyamongst children and teenagers in the country. Our KidsFirst and MeFirst accountsare designed to ensure that parents and guardians are able to have their wardsexposed to the right savings culture and financial discipline as they evolve toadulthood."  

"With these accounts, parents are able to save and strengthen theirpreparedness for various financial obligations of their children like payingfor school fees as they progress with their academic pursuit which is pivotalto securing the future of the children. MeFirst and KidsFirst accounts are essential gifts from parents totheir children". 

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