With the goal of promoting banking products from an early age, Banco BHD launched “Mi Primera Cuenta BHD,” the first and only digital-opening children’s and youth account in the Dominican Republic designed and adapted for those under 18 years of age.
The financial institution reported that it is a joint savings account opened between the parent and the child through the BHD mobile application. To obtain it, it is only necessary to present the minor’s birth certificate. It is 100% digital with no opening cost, requires no minimum balance to open, and has no maintenance fees.
Ángela Nieto, Executive Vice President of Digital Banking at Banco BHD, stated that financial habits begin to form in childhood. “In an increasingly digital world, this innovative product is designed to integrate into the digital lives of young people and offer them a practical and secure tool within the BHD app. This value proposition is centered on three pillars: ease of account opening for parents, promoting financial independence, and instilling the habit of saving from an early age.”
In addition, he indicated that with this new product, savings goals can be planned with the ‘Mis Metas BHD’ digital functionality, where through mobile banking, minors, assisted by their parents, can set savings objectives, customize them, and automate transfers to reach financial goals without complicated processes.
Access to more financial products
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After opening the account, minors are provided with the option to request a debit card, with the basic benefits of Visa, also for online purchases and with the availability of ATMs belonging to Unared.
“We want to accompany new generations in developing a healthy relationship with money, making it easier for minors to learn how to save, manage their resources, and plan their goals from an early age, thus opening the path toward their inclusion in the banking system and their progress,” stated Nieto.
My First BHD Account works in Dominican pesos under a joint modality, where the adult acts as a co-owner of the product and is responsible for the administration of the funds until the minor reaches the age of majority.
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With this innovation, the financial institution not only seeks to strengthen the culture of saving in the child and youth segment, with a savings account adapted for ages 0 to 17, but also to consolidate its bond with families, creating digital experiences that promote financial education and the responsible use of banking products from early stages.
