Wema Bank increases benefits in Royal Kiddies account

Wema Bank Plc’s bespoke children’s savings account, Royal Kiddies Account (RKA), has now been enhanced with more benefits parents couldn’t resist.

A statement from the innovative financial institution revealed that the new functions were added to encourage savings and financial prudence.

According to the notice, from November 1, 2022 to January 30, 2023, parents who establish a standing instruction through ALAT or at the branch for automatic funding of their children’s Royal Kiddies account with a minimum of N10,000 per month will receive eligibility for the annual educational award for 20 account holders.

In addition, by constantly increasing the savings in your Royal Kiddies account, account recipients are automatically positioned to earn more interest, as the RKA offers an attractive interest rate that is one percent higher than the interest rate of standard savings.

Royal Kiddies account managers (parents) can also deposit dividend certificates and checks in their children’s names and can view and fund the account from anywhere, 24/7 using the ALAT application, the lender said.

Wema Bank’s Retail Business Division Head, Mr. Dotun Ifebogun, explained that the latest initiative demonstrates the bank’s dynamism to deliver innovative solutions that empower customers across segments and strata and deepen digital adoption and inclusion. financial.

“This campaign will further drive digital adoption and financial inclusion and emphasizes parents using ALAT to create standing orders.

“It enables account managers to perform a variety of advantageous tasks from anywhere at their convenience.

“The addition of ALAT to the list of account holder benefits enhances the uniqueness of the Royal Kiddies Account,” he said.

Mr. Ifebogun added that the campaign was also launched to encourage parents and their children to get into the habit of regular saving and secure their children’s future while rewarding them for their continued loyalty.

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