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Teen Account

Overview

Teach the Teen Responsibility.

This account is for parents/guardians who want to instill the wisdom of good money management habits in their teenaged children through set allowances etc. 

At your discretion as the parent/guardian, you can offer a debit card (Young Money TemboCard Visa) to your teenagers , which they can use through ATM, POS or CRDB wakala. You will be informed of each transaction through SMS.

Teen Account is made with teenagers in mind, to help them learn to be responsible with their money. 


Teen Account can now be applied throughSimBanking App.

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7 great features of our Salary Account

  • The account is opened by a parent/guardian and operated by the child under their parent’s or guardian’s supervision

  • Can be opened and operated in either TZS or USD

  • Your account earns interest on deposits

  • Only one account is allowed per child.

  • No monthly fee

  • The parent is eligible to debit card (TemboCard VISA/Mastercard)

  • For teens who are 10-17 years old


4 great reasons to open a Teen Account

  • Teenager is allowed to use TemboCard so as to build financial responsibility early

  • Parent/Guardian retains the mandate on the account

  • Parent/Guardian receives notification whenever the debit card is used 

  • No monthly maintenance fees


To open an account:

  • Account must be for children between 10- 17 years 

  • Must have the child’s birth certificate

  • Must have 4 passport size photographs, 2 of the parent/guardian and 2 of the teenager

  • Parent/Guardian must have a valid ID (NIDA ID, Voters ID, Passport, Driver’s licence, Zanzibar ID)




FAQs

Customer (Parent/Guardian) can request for the account to be transferred to the child as a CRDB Scholar account or any other account the customer chooses. From this point onwards, the child will be in charge of the account.

No, the Teen account cannot be opened jointly.

Yes, customers can open more than one account; one Teen account per child.

Yes, a customer needs to bring a minimum of TZS 20,000/= or However, Teen customers can deposit more than the initial opening balance during account opening.

Customers can deposit through CRDB Branches, Simbanking, Wakala, or through transfer from one account to another, transfer from another bank, and or transfer from MNOs toCRDB bank account.

Customers can withdrawal through CRDB Branches, ATM, and CRDB Wakala.

No, Teen Account does not have operational fees(monthly fees, or withdrawal fees)

No, currently Teen customer is not eligible for CRDB loan products.

Yes, Teen customers can request a statement, showing account activities, the cost of which will be as per the approved CRDB Tariff guide.

Yes, Teen Account customers can set up standing instructions from their CRDB personal account to their Teen’s account.

Yes, customers can set up standing instruction (SI) from another bank to the CRDB Teen account. However, the SI has to be set up by the other Bank.

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