Sindh Bank empowers the youth of Pakistan with a dedicated Teenager Account. Designed to foster financial literacy and independence, this account provides a secure, regulated, and digital-friendly banking experience for teenagers, in full compliance with State Bank of Pakistan regulations.
FEATURES:
- Quick Processing: Instant account opening (maximum turnaround time of 02 working days) with a Tracking ID for status updates.
- Digital Banking: Equipped with a Debit Card and Mobile Banking facility for seamless digital transactions.
- Flexible Currency: Opened in local currency (PKR) by default, with the ability to receive equivalent PKR of foreign remittances.
- Account Types: Can be opened as an individual or joint savings account.
- Seamless Transition: Automatically converts into a regular account upon the teenager attaining the age of 18.
- Safety & Security: Restricted from cheque books, negotiable instruments, and credit/overdraft facilities to ensure safe usage.
ELIGIBILITY & CRITERIA:
Age & Residency:
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- Resident Pakistani teenagers between the ages of 13 to 18 years.
Identity Verification:
Mandatory Biometric verification or alternate ID verification mechanism (VeriSys) from NADRA for the teenager.
Parent/Guardian Requirements:
- Applicable CDD (Customer Due Diligence) requirements for the parent/guardian.
- Signed Indemnity (on Rs. 200 stamp paper) accepting full legal responsibility.
- Declaration regarding the source of funds.
Required Documentation:
- Identity documents of the Teenager and Parent/Guardian.
- Family Registration Certificate (FRC).
- Guardianship Certificate (where applicable).
- Source of Funds evidence.