ABN AMRO: Queen's Day cash box

Van Wanten Etcetera

Entry Information

Country where program ran: Netherlands
Program start date: 04/16/12
Program end date: 05/31/12
Advertiser/Client Name: ABN AMRO
Product/Service Description: The ABN AMRO Youth Account. The only account in the Netherlands that allows parents to adjust the account's entitlements and limits online to suit their child's level of development. ABN AMRO will deposit an extra €20.00 in every new Youth Account opened.
Category: Financial Products and Services (FPS)

Strategy

Business problem

The National Institute for Family Finance Information advises parents to teach children how to handle money independently from the age of 6. But by the time they finish primary school, parents don't trust their child with a youth bank account yet as they feel that at that age, they are not good enough at handling money yet. The result of this is that banks usually target older children. Parents putting it off means that children learn how to handle money too late, which in itself causes them to behave in a more risky way. The challenge:

  • How can ABN AMRO encourage parents to trust their children, particularly younger children aged 6 to 12 years, sooner, and convince them to stop putting off opening a youth account?
  • And, how can we open up dialogue between parents and children in a fun way? Otherwise the promotion will be pointless, because parents have to be willing to open the account, and children have to want to put effort into it too.