Butterfield announced the launch of an enhanced ‘Young Savers Account’ that can be opened for any child from birth.
Previously available for 10-to-17-year-olds, this instant-access savings account can now be opened for any child with a minimum deposit of $20. Until the end of July, Butterfield will match the initial deposit up to the value of $50.
The Young Savers Account provides children and teenagers with an opportunity to benefit from a more competitive interest rate, use of a Platinum Debit Mastercard and access to online banking for those aged 9 years and above. Free online educational resources are also available as part of Butterfield’s wider commitment to financial well-being.
Mike McWatt, Butterfield’s managing director in Cayman, said the Young Savers Account was designed to support the community with banking solutions tailored to every stage of life.
“This account offers a competitive interest rate, no maintenance fees and access to complimentary financial education resources that promote smart saving habits from an early age,” he said.
“Parents and guardians can open accounts for children from birth and conveniently monitor account activity through Butterfield Online and our card alerts app.”
Butterfield will host a dedicated Young Savers event on Saturday, 19 July, at Butterfield Place in George Town. There, parents and children can learn more about the promotion, and open accounts in a fun environment tailored to youth.
Attendees will have the chance to meet and take photos with Vern, Butterfield’s aquatic wyvern mascot and take home an exclusive plushie with every new account opened.
Those wishing to apply for a Young Savers Account can do so by downloading the application form. Bring the completed form into any Butterfield Banking Centre together with the young saver and any supporting documents.
For more information, visit the Young Savers Account page on the Butterfield website.
