HSBC: Open Youth Account, Get A Bermuda Kite
HSBC Bank Bermuda has launched ‘MySavings Youth Accounts,’ and every child who opens one will receive a traditional Bermuda kite, made by local kitemakers at the Salvation Army, and HSBC will also provide a donation to the Salvation Army in the name of each child.
A spokesperson said, “HSBC Bank Bermuda Limited announces the launch of the MySavings Youth Account and Premier MySavings Youth Account, both designed to provide children with their first banking experience and teach them about good saving habits.
“In celebration of Bermuda’s unique culture of kite making during the Easter holiday season, every child who opens either of the two new youth accounts will receive a limited edition HSBC traditional Bermuda kite, made by local kitemakers at the Salvation Army.
“In addition HSBC will provide a donation to the Salvation Army in the name of each child, thereby celebrating the unique design and craftsmanship skills of Bermudian kitemakers at this important charity,” said Tanya Bule, Head of Wealth and Personal Banking and Marketing at HSBC Bermuda.
“From the age of 7, children can open a new MySavings or Premier MySavings Youth Account with a minimum balance of $25 and without incurring monthly maintenance fees. The account offers monthly interest and is the only children’s savings account in Bermuda that rewards young savers, by providing quarterly bonus interest when no withdrawals are made in each qualifying 3 month period.
“Time is the huge advantage children have over adults when it comes to saving. ‘MySavings’ is designed to help children and teenagers better understand that saving over time is how they grow their money and by keeping their savings and spending separate, children can learn to budget and manage their finances responsibly.
Tanya Bule further shared, “HSBC recognizes that it’s never too early to start learning to manage finances prudently and the Bank is committed to working together with parents, to help teach their children how to become financially savvy at a young age.”
“Individuals are invited to visit here to view the full details of the offer.”
A free kite? Wow. Great.
Can you give us the ability to use OUR OWN money when, where, and how we want now please? And stop trying to limit our ability to invest and trade in the financial markets? – If you really want our children to become “financially savvy at a young age,” this is what is needed.
Thanks.
Will the kids get interest on their savings or will they be paying HSBC to invest their money and keep the profits like us adults do?