An account opened by parents in trust for children aged 13 to 16 years, the UMB Smart Teen account allows parents to financially prepare for the payment of the fast approaching university fees. Knowing that they are financially covered for major expenditures like university fees, Smart Teens will be able to focus on what matters, academics and enjoying life as a teenager.  They also have the opportunity as teenagers to learn about financial management and the opportunities that it creates.

 

General Description

Saving account held in trust by parents for children aged 13 to 16 years.

 

Top Features And Benefits

  • Regular lodgement can be set up from parents account into Smart Teen Account.
  • Free 25 leaflet savings withdrawal book.
  • Free E-suite (Regular e-statements as well as 24/7 Internet banking and SMS alerts) and also exciting educational correspondence for kids with emails.
  • Children are entitled to branded gifts like exercise books, pens and pencils once the account is opened.
  • Free standing orders or bank drafts to pay school fees.
  • Child participation in the UMB Studicare Project;
    • UMB My Child, My Asset Day Sessions                    
    • UMB Milestone Celebrations
    • UMB Mentorship Sessions

 

Requirements

  • Completion of Smart Teen Account Opening form and KYC form.
  • Completion of Mandate card.
  • Two passport size photographs each per trustee (if more than one) and beneficiary.
  • Proof of Address (Utility bill / direction to prospects home / call report).
  • Form of Identification for the parent/guardian/ trustee (Valid national ID such as Passport/ Drivers License, Voters ID/ National ID).
  • Form of Identification for the Child (Birth Certificate/ Passport/ NHIS/ Child Birth Record).

Start saving for your child’s future today!
Click here to sign up for a Smart Teen Account.