Heritage Bank Limited has moved to boost disposable income for families by introducing a banking scheme called ‘BankMyFamily’.
Designed to reduce the cost and risks associated with running family expenses, while enhancing efficiency and savings, ‘BankMyFamily’, is a scheme that offers families a bouquet of Heritage Bank products, comprising HB Plus, HB SaveSmart and HB Bud.
The Managing Director/Chief Executive, Heritage Bank, Mr. Ifie Sekibo said that the scheme was born out of the bank’s efforts to develop innovative services to help its customers create, preserve and transfer wealth.
“The essence is to enhance the ability of families to save by reducing money spent on family related transactions. In addition, ‘BankMyFamily’ will also help facilitate savings culture and encourage younger ones to imbibe banking habits,” he was quoted to have said in a statement.
Families enrolled on the ‘BankMyFamily’ scheme enjoy a host of benefits including: easy transfer of funds within the family at no cost with the bank’s e-products; access to the bank’s bouquet of retail loans to fund lifestyle needs; attractive interest rate; opportunity for target savings towards a child’s school fees or needs and access to participate in the bank’s seasonal promos.
The benefits also include: access to financial literacy and parenting tips; customized notepads for kiddies and teens; access to education loans; access to financial literacy tips for children.
The ‘BankMyFamily’ scheme offers to the husband/father the HB Plus Account, which is a savings account that offers the benefits of a current account. It allows the husband issue cheques to his wife to run family expenses. The husband can pay business cheques and dividend warrants into the HB Plus Account, while he is not charged for any transactions under the scheme.
To the wife/mother, ‘BankMyFamily’offers the HB SaveSmart Account, which allows access to internet and mobile banking, as well as interest on credit balances, without being charged for any transaction through the account.
The scheme offers HB Bud Mini for children under 11 years old and HB Bud Teen for children from 12 year to 17 years. These allows the children to enjoy additional interest rates; free customized notepads; access to free prepaid (Dude or Diva) card by opening accounts; phone calls on birthday; access to school fees loan.