Youth Account

• Designed for parents/guardians who want to instill smart money habits in their teens. The account is opened by a parent/guardian and operated by the child under their parent’s or guardian’s supervision.
• Set and manage allowances easily.
• Optional Visa debit card for ATM, POS, and agency use.
• Real-time SMS alerts for every transaction.
• It can be opened and operated in either TZS/USD/EUR/GBP.
• Your account earns interest in deposits.
• Only one account is allowed per child.
• No monthly fee.
• For teens who are 10-17 years old.
• Help your teens learn responsible money management early! A smart start to financial responsibility.          

Benefits

Reasons to Open a Youth Account:

• Build a saving habit for your child’s future needs
• Set standing instructions for automatic contributions
• No monthly maintenance fees
• Earns interest in all deposits
• Option to get a Visa Card
• Teenagers are allowed to use VISA Debit to build financial responsibility early
• Parent/Guardian retains the mandate on the account
• Parent/Guardian receives notification whenever the debit card is used
• Earns interest in all deposits
• No monthly maintenance fees

Eligibility & Requirements

To open an account:

• Accounts must be for children between 10- 17 years
• Must have the child’s birth certificate
• Must have 4 passport size photographs, 2 of the parent/guardians and 2 of the teenagers
• Parent/Guardian must have a valid ID (NIDA ID, Voters ID, Passport, Driver’s license, Zanzibar ID)