Financial literacy for children is an essential skill that equips them for life. It gives them the necessary tools to make informed financial decisions later in life. Family Bank has made it easy for parents to open the Mdosi Junior Account for their children with three main requirements that guarantee instant activation of the Mdosi Junior Account.
Here Is What You Need To Open The Mdosi Junior Account…
- An Original and copy of parent/guardian’s National ID or valid passport
- Original and copy of child’s birth certificate, birth notification, clinic card or baptism card
- An opening balance of KES 200 or KES 1,000 (for your child to start using Henry or Hannah Hippo Bank immediately)
Children should know that money is earned through hard work and determination. This can be taught by creating a system where they do small manageable tasks around the house for a small fee. This will help them appreciate the value of money more and view it as something that has to be earned. It will also be an important lesson towards financial independence where they will learn that money can only be earned through hard work.
When you open a Mdosi Junior Account, a child will receive a Henry or Hannah Hippo Home bank to start their financial journey at home. This thoughtful addition encourages them to save their earnings and sparks creative thinking about income-generating activities. The home banks, when full can be emptied into the child’s account at any Family Bank Branch Countrywide.
