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. 


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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