… Launches 2 new children and Youth-oriented products – Royal Kiddies Account and the Purple Account

Wema Bank, Nigeria longest surviving indigenous bank has continued to expand the horizons of its famed relationship banking model by the Launch of two new account products targeted at children and young adults, The Royal Kiddies Account (RKA) and the Purple Account. The launch event was held at its Head Office in Lagos.

Asked on the rationale behind the launch of the accounts, Executive Director and Head, Lagos & South-South Bank, said the accounts were borne out of feedback from customers and years of collaboration with various stakeholders, within and outside the bank, to develop a niche product that can serve the yearnings and needs of young people in Nigeria whilst also providing an assured foundation for their future. He further added that Wema Bank is totally committed to re-inventing itself and its services to meet the fast pace of innovation across the world whilst also providing best-value for all stakeholders.

In his comments, GM and Head, Retail Banking Division at Wema Bank, Akinlolu Ayileka, said, “The Royal Kiddies and Purple Accounts” have been specially designed to meet the specific needs of Children and Young adults whilst also providing a sound financial platform for their parents and guardians.  On the Purple Account, he said Wema Bank’s presence in over 20 tertiary institutions across the nation has provided opportunities for interactions with young adults and the account was developed with feedback gleaned from them. He further added that Wema Bank is willing to provide necessary support to account holders to help them maximise the benefits of the accounts and also prepare them adequately for the future as professionals or entrepreneurs.

The Royal Kiddies Account is an account for children between the age of 0 and 13 with life assurance of up to N10,000,00.00 (Ten Million Naira)*  in case of death or permanent disability of parent or guardian. The account also enables the lodgements of cheques and dividend warrants and attracts interest rates far above the prevailing market rates.

The Purple Account is aimed at young adults especially those in tertiary institutions. With no minimum operating balance, personalised debit cards, access to mobile banking & internet banking services, and various concessions on other banking services, the Purple Account is set to empower the discerning young individual for the future.

To open any of these accounts, customers can visit any Wema Bank branch location or log on to www.wemabank.com and use the live-chat feature to speak to our service agents.

Established in 1945, Wema Bank is reputably Nigeria’s longest surviving indigenous Bank. With a distinctive industry brand of Relationship Banking, Wema Bank provides a wide range of financial services including Institutional Banking, Corporate Finance, Retail banking, e-business services and advisory services to a diversified client base. For more information on Wema Bank, visit www.wemabank.com