My Daughter Ykaie is now a PSBank Kiddie Saver!

PSBank Kiddie Saver | www.thepeachkitchen.com

PSBank Kiddie Saver | www.thepeachkitchen.com

I’ve always believed that it’s best to start everything early on in life so it becomes a habit later on. Thrift, discipline and perseverance are just some of those important values I tried to impart to Ykaie while she’s still young.

PSBank Kiddie Saver | www.thepeachkitchen.com

As early as two years old, I made a coin bank for Ykaie out of a plastic container and gave some coins each day which she could drop in it. Watching the number of coins rise and eventually filled the coin bank made her more excited about saving.

Instead of throwing old toys which she doesn’t like to play with anymore, I also asked her to sell it in a garage sale. We gathered all the old toys and put a table outside our house with a sign that says “Garage Sale ni Ykaie“. The toys went as fast as a lighting and she made ₱80, half of which went  to her coinbank .. The other half was spent to buy new toys..LOL!

As a mommy, I like to instill to my daughter the value of money and the value of saving.

You might be wondering why we didn’t just start by opening a bank account before. Well, I tried opening a kiddie account for Ykaie before but other banks require a minimum age of 7 years old. That’s why I thought we should just start with a coin bank.

PS Bank Kiddie Saver

PSBank Kiddie Saver | www.thepeachkitchen.com

It’s really a good thing that PSBank now has a PSBank Kiddie Saver. PSBank Kiddie Saver is a savings account for children 0-12 years old. This makes it much easier to start a savings account for your children as it does not require a minimum age.

It is also more affordable since there’s no initial deposit required nor a maintaining balance. the account will earn interest monthly regardless of the balance.

So last October 8, 2013, we went to the nearest PSBank branch from our house and opened a PSBank Kiddie Saver for Ykaie. The requirements for parents are two (2) valid ID’s with photo and for children, the requirements are Birth Certificate and a school Id or passport.

PSBank Kiddie Saver | www.thepeachkitchen.com

We presented a Certified True Copy of Ykaie’s Birth Certificate and her Passport. I also presented two (2) of my government issued IDs.

PSBank Kiddie Saver | www.thepeachkitchen.com

The PS Bank staffs are very cheerful, friendly, and accommodating. They even gave Ykaie some candies while we were waiting.

Benefits of PSBank Kiddie Saver

Aside from not having a required initial deposit and maintaining balance, you can also choose to open a passbook and ATM account. You can choose to have a PS Bank Debit Mastercard or a regular PSBank ATM card. You can use this to conveniently withdraw cash in any PSBank branch nationwide or through any Bancnet, Megalink or Expressnet ATMs

PSBank Kiddie Saver | www.thepeachkitchen.com

PSBank Kiddie Savers account also comes with a free personal accident insurance from Charter Ping An Insurance Corporation that is equivalent to five times (5x) the monthly average daily balance. This means that the child or teen is insured against accidental death or disability up to a maximum of ₱500,000 fro those who are 0-7 years old and up to an aggregate limit of ₱ 5 million for those who are more than 7 years old but not more than 18 years old.To claim the insurance, the account has to be active and should have a monthly average daily balance of at least PhP 1,000 during the time of accident.

First Deposit

PSBank Kiddie Saver | www.thepeachkitchen.com

When her passbook was handed out to her, Ykaie made her first ever deposit courtesy of one of her broken coin banks.

And when we got home, she practically announced to everyone that she already has her own bank account. She is very excited and is eager to save up. She can’t wait for her next visit to PSBank to make another deposit.

Interested to open an account for your children? You may get in touch with PSBank through PSBank Customer Service anytime, any day; or visit any PSBank branch near you.

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44 Responses

  1. I think it is good to have a savings account for a kid and have them participate in the banking process. Good life skills to learn

  2. That’s cool. It’s great to teach kids on how to save. It’s
    nice seeing her smiling.

  3. No initial deposit and no maintaining balance, wow! I like to open a Kiddie Saver’s account for Justin, too!

    1. Go tetcha! I think Justin will like to have his own savings account. It will encourage him to save.

  4. This is good, earn interest without a maintaining balance, sad that my Yahmir is no longer qualified 🙁

  5. Awe! That is wonderful. I am with you mommy. Teach them about life that can help them when they grow up and teaching them about earning and saving money is a valuable lesson. My son too has his own real bank account and he has his own coin bank at home that we made out of formula can. I let him design it the way he wants and he is always excited to put coins in the bank. Told him he has to save his own money if he wants to buy his own new bike. We are thinking of having his own fruit booth too this summer when our fruits are finally ready. LOL! Teaching them to be little entrepreneurs. 🙂 Good job mama and Ykaie. 🙂

  6. It is never too young to teach kids on how to handle money. Our kids has more savings than me and hubby lol.

  7. My kids have their own BDO Junior Savers Account which I opened for them when they were babies. All the money they receive – for their baptism, birthdays, Christmas tokens – all go there. Every month, we go to the bank together to deposit money also. They don’t need a monthly allowance for school yet, so we instead deposit it in their account. I let them fall in line and give the teller their passbooks to instill that discipline of saving regularly.

    1. Teaching our kids the importance of saving money is one of the most valuable lessons we can teach them.

  8. My daughter has her own passbook account in Metrobank which we opened when she was a year old. It’s our family’s savings account that we really don’t use since it’s our little investment for our daughter.

  9. I’ve been thinking of opening an account for my two kids. I like that the kiddie accounts do not require an initial deposit and there is no maintaining balance.

  10. Teaching our kids the value of money by saving is really a good thing. But I think teaching them to be entrepreneurs is a lot better.

  11. Balak ko po kc mg open ng kiddie account for my 1yr old baby pero problema ko ung requirments,,kailngan b my passport cia? Ano po b mga requirments?tnx po

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Hi, Peachy here!

I'm a foodie mommy living in the Philippines. I'm a mom to two daughters named PURPLE SKYE and PERIWINKLE MOONE and wife to a loving husband I fondly call peanutbutter♥. I am a foodie by heart, a coffee lover and a froyo and yogurt junkie. Learn more →

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