The new product will allow minors between the ages of 0 and 17 to open a savings account with their parents, without opening or maintenance costs
SANTO DOMINGO – Dominican children and teenagers will be able to access a fully digital bank account for the first time. Banco BHD announced the launch of "My First BHD Account," a financial solution designed for minors that aims to foster saving habits and financial literacy from an early age.
According to the entity, the product works under a joint modality between the parent or guardian and the minor, and can be opened directly from the bank's mobile application by presenting only the birth certificate of the child or adolescent.
The institution noted that the account has no opening fee, requires no minimum balance, and does not include maintenance charges.
Financial education from childhood
Ángela Nieto, Executive Vice President of Digital Banking at Banco BHD, stated that financial habits begin to develop from an early age and that the initiative seeks to adapt to the digital reality of new generations.
The executive explained that the proposal is based on facilitating access for parents, promoting greater financial independence for young people, and encouraging a culture of saving.
He also indicated that users will be able to use the digital tool "My BHD Goals", which allows them to set savings goals, personalize them and automate transfers to achieve them.
Debit card and online shopping
According to the financial institution, once the account is created, minors can request a debit card with basic Visa benefits, enabled for online purchases and with access to the network of ATMs affiliated with Unared.
The bank explained that, until the account holder reaches the age of majority, the adult listed as a co-holder will be responsible for the administration and supervision of the funds.
Greater financial inclusion
Banco BHD highlighted that the initiative is part of its strategy to strengthen financial education and promote a responsible relationship with money from an early age.
The entity indicated that the product is aimed at children and adolescents between 0 and 17 years old, with the purpose of bringing new generations closer to the financial system and supporting families through digital experiences adapted to their needs.
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