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Accounts of Minors

An Account that can be created and managed by mothers, Accounts that can be created are limited to Saving and Term Deposit Accounts

Service Features

  • Powers of administering the account by the mother shall be limited to:
      - Withdraw and deposit cash
      - Issue of limited powers ATM card for withdraw and deposit purposes only
      - Issue fixed payment orders
      - Transfer from other’s account to minor’s account

  •  A mother may close the account or withdraw balance if the minor has not reached the legal age
  • No powers of attorney are accepted from any type whatsoever in this respect
  • No way to open joint account in name of more than one minor
  • No cheque books will be provided
Service Terms & Requirements

  • Valid and approved ID for individuals
  • Bring the documents as provided for in procedure manuals
  • A client is not suspended to deal with.