Public Bank provides automatic transfer from parents' account

Public Bank's new account encourages children to save through automatic transfer of monthly allowances from the parents’ account to their account. Called the PB Bright Star savings account, it is meant to inculcate the savings habit among the young.

"The Bank recognises that children are the future, and this is the inspiration for PB Bright Star," said Managing Director Tan Sri Tay Ah Lek. The target customers of the new children savings account are children below 18 years of age.

The PB Bright Star savings account encourages savings by making it fun. A deposit of US$143 will entitle the child to receive an attractive animal-designed coin bank to encourage the habit of savings among children.

The other benefits of PB Bright Star savings account are birthday vouchers to 20 randomly selected boys or girls celebrating their birthday each month, and school holiday activity workshops for 20 other randomly selected children.

The PB Bright Star savings account also has a "Star Achiever Programme" to inculcate and nurture the habit to excel academically among schoolchildren. The Programme runs annually for all school-going children to stand a chance to win attractive prizes such as trips to Hong Kong Disneyland, Taman Negara, Aquaria KLCC, Petrosains KLCC as well as Popular Bookstore gift vouchers.