Children get an early start to financial freedom at Wema Bank with our Royal Kiddies Account designed for ages 0 to 12.
Opening a Royal Kiddies account for your children gives you access to school fees advance, scholarships and life assurance to fund their education.
Account is operated by the parent/guardian who may or may not have an account with Wema Bank
Minimum opening balance of N2,000
Competitive interest rate (4.75%)
Limited withdrawals – Max of 1 withdrawal/month to qualify for interest payment
Lodgment of dividend warrants & cheques in child’s name is allowed
No debit card would be issued on this account
A Royal Kiddies e-purse will be made available on request.
Helps parents to save for their child’s future.
Helps to teach a child the importance of saving from a young age and introduces the child to use financial channels through the Royal Kiddies e-purse.
Ensures continuity of child’s education in case of death of parent or guardian.
Allows standing order for regular savings from parent’s/guardian’s accounts for payment of school fees
Higher interest rate than a standard savings account.
Eligibility for the annual Wema Educational Award
Transaction alerts through SMS and/or E-mail
Duly completed account opening form including signature mandate card
Copy of National ID card, Driver’s License, Voters ID or International Passport of the account administrator (parents/guardian)
1 passport photograph each for parent/guardian and child/ward and alternate administrator
BVN of administrator & Alternate administrator (Where applicable)
Birth certificate or School ID of child
Copy of utility bill (Water, electricity, Waste or telephone) issued within the last three months