UBA Teens Account

UBA Teens is a basic savings account for teenagers. The objective of the account is to give them a sense of inclusion in planning their finances, carrying out transactions and learning to save.

– 50% discount on first debit card issuance.
– 13th Month Reward with a maintenance of an SI for 12 months at a minimum of ₦5,000 (Target-Plan). 10% of the monthly Target plan amount is paid to the customer.
– Consistent maintenance of SI above ₦10,000 for 6 month stand a chance to partake in the Scholarship scheme.
– Opportunity for Internship with the Bank.

Forms
– Personal Account Opening Form (To be completed by parents with parent’s information or with guardian’s information).
– Signature Specimen form (To be completed by parent or guardian).
Documents required
– Birth Certificate or international passport of the child/teenager.
– One passport photo each of parent or guardian and child/teenager.
– Valid and acceptable means of Identification for parent/guardian (e.g. International. Passport/Driver’s License/Voters Card).
– Utility bill not exceeding 3 months.
Funds
– Minimum Opening Balance of ₦1,000.
– Minimum Operating Balance of ₦1,000.

– The parent/ guardian till the child comes of age.

Yes. First issuance is at a discount of 50%.

New-to-Bank Teen customers by completing the Teens Debit Card section of the Account Opening Form.
Existing Teen customers by completing the Teens Debit Card section of the Debit Card Request Form.

The debit card is at 50% discount  for first issuance  and the standard charge applies for lost or expired cards.

Parents/guardians can monitor teens’ account activity including balance information and recent transactions through online banking/Mobile App/USSD.

Yes. As the signatory on the account, you can transfer money from your child’s account to another account at UBA.

Yes. You can either deposit cash or transfer into the account.

Yes. But Only from a full KYC Teens account.

Yes

Transaction limits can only be defined and changed by parents/guardians. In addition, parents/guardians can monitor teens’ account activity through online/mobile/USSD banking.

Yes. But only for a full KYC Teens account.

The 13th month reward is an amount paid to UBA Kiddies and Teens customers at the end of each year. Kindly maintain a standing instruction of ₦5,000 minimum for 12 consecutive months. Balance should not be lesser than cumulative, i.e a customer with a monthly instruction of ₦5,000 is expected to have at least a balance of ₦60,000

NO, you will not qualify for the 13th month bonus if you do not have a target savings plan

If you withdraw funds early, you will not be eligible for the 13^th month bonus that year.

However, your plan will remain in effect and you can be eligible the following year if you stick to your plan. In this case, your plan will revert to Year 1, so you will be eligible for a 10% bonus that year.

Yes, you will earn competitive interest on the accumulated funds in your account even if you do not achieve your target plan –however you will no longer be eligible for the 13^th month bonus.

To begin, simply maintain a standing instruction of minimum of ₦10,000 for 6 consecutive months or more. Balance should not be lesser than cumulative, i.e A customer with a monthly instruction of ₦10,000 is expected to have at least a balance of ₦60,000

₦200, 000. This will be paid directly to the school.

A total number of 40 winners will be selected from two draws in a year.