Banking has just become more exciting for teenagers and pre-teens with the relaunch of ‘Dotcom Teen Account’ – the popular youth savings account of Commercial Bank of Ceylon, with a host of new features and benefits.
Dotcom Teen Account holders, who are between the ages of 10 and 18 years, can now obtain loans for educational purposes, use their debit cards to make purchases or withdrawals and enjoy online banking and mobile banking free of charge, the bank said.
Additionally, the parents or guardians of Dotcom Teen Account holders can transfer funds to their children’s accounts via standing orders free of charge and receive SMS notifications on all transactions carried out with the Dotcom debit card.
Extending the benefit of cutting-edge technology to this youthful customer segment, the Dotcom debit cards are near-field communication (NFC) enabled for secure ‘tap and go’ transactions. Cardholders are also eligible to receive ComBank Max Loyalty Rewards points on all payments, the bank said.
“The Dotcom Teen Account was introduced to stimulate the savings habit among teenagers and provide them an opportunity to manage their own finances from a young age,” Commercial Bank Deputy General Manager Personal Banking Sandra Walgama said.
“The features of the account have been periodically enhanced in keeping with changing trends and technological advances, to provide accountholders the maximum benefits possible.”
Any Sri Lankan between 10 and 18 years can open a Commercial Bank Dotcom Teen Account with a minimum initial deposit is Rs.1,000. The account pays an interest rate of 1 percent above the prevailing savings rate. Every account holder receives an attractive Dotcom-branded personalised debit card, which can be used to make purchases wherever point-of-sales machines are available or for online purchasing.
Dotcom Teen Account holders can receive quarterly e-statements or use Commercial Bank’s sophisticated e-passbook facility via their smartphones or tabs.
Once a Dotcom Teen account holder reaches 18 years of age, he or she may convert the account to standard savings account at Commercial Bank and apply for a Commercial Bank international credit card or a ComBank Shopping debit card.