ABN AMRO Queen's Day Cash Box 2012
van Wanten etcetera
Product: 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.
State of business: 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 children with a youth bank account yet as they feel that at that age, they are not good enough at handling money. 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.
- 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 dialogue be opened up 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 make an effort too.