With a minimum deposit of 50 yuan, the bank is eyeing the New Year's money: parents want to guide their children to manage their finances, and the bank wants to cultivate potential customers
China-Singapore Jingwei, February 12 (Wei Wei, intern Zhang Xumin) "Children are very much looking forward to saving New Year's money, and since they have applied for a bank card, they have a real sense of money, and they feel that they are rich." Lilith (not her real name), from Shanghai, just got her first bank card for her 5-year-old daughter Xiumi (not her real name) in mid-January.
Sino-Singapore Jingwei noticed that many banks are marketing for New Year's money, not only making exclusive bank cards for teenagers and children, but also launching exclusive deposit products for New Year's money.
"Cultivating children's financial skills from an early age"
"I chose a bank card of China Merchants Bank for my children, and the 1,000 yuan given by the elders has been saved for 3 months. Lilith said that it is expected that Xiumi will receive about 10,000 yuan this year, and Lilith plans to deposit all the money into this bank card.
Lilith told Zhongxin Jingwei that Xiumi can now recognize the words on the bank card, and applying for a card can also cultivate the child's financial management ability, so she chose to store the New Year's money when the child is 5 years old.
Li Mi (not her real name), who works in Beijing, has already opened two bank cards for her 10-year-old daughter, Xiaoqing (not her real name). Li Mi told Zhongxin Jingwei that when Xiaoqing was 2 years old, she applied for a bank card of China Construction Bank for her and deposited the annual New Year's money in the card. "When my child was in first grade, I was asked if someone gave me money every year, where did the money go? ”
After the Spring Festival in 2023, when Li Mi was doing business in Bank of Beijing, the account manager recommended Xiaojing Card to her, so she applied for a bank card in Bank of Beijing and deposited more than 10,000 yuan of her child's New Year's money in the card. "At that time, there was activity in saving New Year's money, and the annual interest rate of three-year deposits was 3.2%, which was a little higher than the interest rate of ordinary deposit products, and the upper limit was 50,000 yuan. Li Mi said.
Li Mi said frankly that the main purpose of saving New Year's money is to cultivate children's sense of financial intelligence, telling children that they can't spend all the money, but they can also save it and use it when they need it.
Customized cards and exclusive deposits attract customers
Around the Spring Festival, a number of banks have launched marketing activities aimed at "New Year's money", including customizing exclusive bank cards and exclusive deposit products.
"How are you going to spend the New Year's money? It's better to get a bank card of your own for your child. The Rizhao Bank poster reads. The poster shows that the bank can customize the "baby card", and the daily customized card is 30 yuan per card, which can be handled free of charge during the event from February 1 to February 29. During the event, a single fixed deposit of more than 20,000 yuan (inclusive) in the baby card can get a lucky draw opportunity.
Qilu Bank issued a document saying that the bank has launched a children's card and baby gold, which can be opened at the counter of any outlet, and after establishing a guardian relationship, the child card can be bound to the guardian's mobile banking.
According to the WeChat official account of Handan Bank, the bank issues exclusive debit cards to children under the age of 16, and the cost of card issuance, card replacement, card annual fee, and written loss reporting fee are all waived. The bank's mobile banking also launched a baby area, which can be used for parent-child account addition, unhanging, family transfer, etc.
In addition to exclusive bank cards, banks have also launched special deposit products with lower deposit points and interest rates that are the same or slightly higher than ordinary deposit products.
Recently, the reporter called a branch of the Bank of Beijing as a customer, and the staff said that the bank has a regular lump sum deposit product "Xiaojing New Year's Treasure" specially designed for teenagers and children to take care of New Year's money and red envelope gifts. The minimum deposit amount of this product is 50 yuan, and the annual interest rates of 3-month, 6-month, 1-year and 2-year fixed deposits are 1.75%, 1.95%, 2.05% and 2.15% respectively, while the annual interest rates of 3-year and 5-year fixed deposits with an initial deposit amount of 1,000 yuan are 2.6% and 2.65% respectively.
According to the poster of Jiangsu Changshu Rural Commercial Bank, the bank launched a New Year's money deposit, with a minimum deposit of 500 yuan and a one-year deposit interest rate of 2.11%. Sichuan Ya'an Rural Commercial Bank has launched the "New Year's Treasure" product, which is sold to minors under the age of 18, with a minimum deposit amount of 10,000 yuan (inclusive), and the execution interest rates for 6 months, 1 year, 2 years and 3 years are 2.05%, 2.25%, 2.80% and 3.4% respectively.
Source: WeChat public account of the bank
The intention is to nurture leads
In the eyes of industry insiders, banks have launched exclusive bank cards and products for children and teenagers, or they are intended to "put a long-term line to catch big fish".
In the view of Dong Ximiao, chief researcher of Zhaolian, there are several considerations for banks to provide services and market for New Year's money: first, the New Year's money itself is also funds, and the bank can absorb a part of the deposit; second, it helps to cultivate young people's awareness of investment and financial management, and cultivates potential customers for the bank.
Yang Haiping, a researcher at the Securities and Futures Research Institute of the Central University of Finance and Economics, told Zhongxin Jingwei that during the Spring Festival, commercial banks launched bank cards and related deposit products for children, on the one hand, they hope to provide targeted services for children's New Year's money, seize and cultivate children and young customers, and on the other hand, to drive their family members to become effective customers of the bank.
In fact, in the early years, many banks launched bank cards for children aged 18 or under 16, but on the whole, the development of this part of the business is still tepid.
In the interview, Zhongxin Jingwei learned that children's exclusive bank cards usually only have the basic functions of debit cards such as deposits and withdrawals, transfers, and consumption, but they do not support the purchase of wealth management products, and only individual banks support the purchase of wealth management products with a risk level of R1. In addition, some parents said that after applying for a bank card for their children, they were shut down by the bank for "non-counter" transactions because there was no transaction within half a year.
"After the wealth management products are fully netted, customers have to bear the corresponding risks, and when banks sell wealth management products, they are more strict in managing the suitability of customers. There are also considerations in this regard for banks that only offer deposit products for children and teenagers. Yang Haiping said.
Yang Haiping further said that commercial banks should pay attention to customer suitability management and business compliance in the process of marketing and business development to provide bank cards and related products for children and teenagers, and second, to do a good job in customer demand analysis and improve the accuracy of financial services.
(The views in the article are for reference only and do not constitute investment advice, investment is risky, and you need to be cautious when entering the market.) )
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Editor in charge: Luo Kun and Li Zhongyuan