DO not be surprise if you see kids transacting at any BDO branch nowadays.

BDO Unibank, Inc. recently launched its promo encouraging children 12 years and below to open in any of its over 740 branches nationwide a savings account with an initial deposit requirement of only P100. This is in line with BDO’s support to the Kiddie Account Program (KAP), a joint effort of the Bangko Sentral ng Pilipinas (BSP) and the Bank Marketing Association of the Phils. (BMAP). KAP, in turn, champions the Banking on Your Future Program (BOYF) launched by the BSP.

For this effort BDO will tap its existing product -- Junior Savers Club (JSC) Accounts -- as vehicle for the BOYF but will do some enhancements to encourage more children to enroll. For instance, when their savings reach P500, the account will be converted into a regular JSC account earning interest and with an option to have an ATM card for kids 7 yrs old and above.

The parents may also open the account for their kids (7 years and below) via an "In Trust For" account since these younger kids can't sign yet on their own. With the JSC variant, opening a kiddie savings account and the opportunity of saving is now more accessible to both kids and parents.

To make it more exciting, BDO will treat the children with discounts and freebies at SM affiliates such as IMAX, Science Discovery Center, Toy Kingdom, SM Bowling/Storyland/Skating. A free pencil case also awaits kids who will open an account with initial deposit of P100.

"The plan is to promote this product to the various schools so at this early children will be taught the value of saving for their future," BDO said.