ABA introduces Junior Account to bring modern banking to children
ABA Bank, the leading Cambodian bank in digital finances, introduced ABA Junior Account to provide children 10-17 years of age with access to modern banking and cashless facilities through their own ABA Mobile app.
Upon successful account opening, children can use ABA’s popular services by themselves while still being under parental guidance and within certain limits.
Junior accountholders will be able to check their balance in real-time, make local transfers and payments, including KHQR payments, and save money by themselves.
Parents can control their child’s spending via their ABA Mobile, send cash to Junior Account, and will receive a notification when their child uses ABA Mobile for a transfer or payment.
Junior Account encourages children to build healthy financial habits early and understand the importance of saving for the future. It comes as an enhanced version of the traditional Minor Account the Bank has been providing through its branches only.
Launch ABA Mobile and tap New
Account;
Select Junior Account, fill in the information of the child, and choose the account currency; Enter the child’s phone number
and finalize the process by entering the security code received on the child’s phone via SMS. “We believe Junior Account will boost children’s financial literacy and enable them to experience how money works in a presentday lifestyle while parents can learn and monitor their children’s money habits. Unlike regular savings accounts, Junior Account will not just encourage your child to save but also allow them to manage finances their own way via ABA Mobile”, comments Zhiger Atchabarov, Chief Operating Officer at ABA Bank.
“We encourage all parents to open ABA Junior Account for their children as it is a smart financial tool that improves money habits of not only the child but the whole family,” he added.
About ABA Bank
ABA Bank is Cambodia’s largest commercial bank by total assets, gross loans, customer deposits and profitability based on the National Bank of Cambodia’s Annual Supervision Report 2021.
As of 30 June, the bank’s assets reached US$ 8.5 billion, whereas the total volume of digital transactions on the ABA Mobile app alone totaled almost US$100 billion.
With 81 branches, 25 ABA 24/7 spots, more than 1000 self-banking machines and advanced online and mobile banking platforms, ABA Bank reaches out to millions of customers with an array of modern financial services.