Africa-Press – Lesotho. A new account to guarantee the youth financial freedom was launched by Standard Lesotho Bank this week. Future Flex for Youth account will help the youth to make smart economic decisions for the future.
The idea is to help youths be financially intelligent so that they make better decisions for themselves. Under the Future Flex Account, clients will enjoy free monthly data, free internet banking or mobile banking transfers and free monthly bill payments.
Holders will also enjoy free ATM withdrawals, saving account and free Point of Sale (POS) transactions. Teboho Sello, Standard Lesotho Bank Head of Personal Banking, said they still have a lot planned for youths in the near future.
The account is targeted at youths between the ages of 16 and 27 who want to build a better future themselves. They will receive financial education, career advice, internship and exposure to the world of work and development.
To open an account, a client will only need to bring along with them their source of income, and identity card at any Standard Lesotho Bank branch countrywide.
“We knew from a distance that youth is an important part of our population and the future of our country hinges upon younger people,” Sello said. He said they understood the youth’s needs from a distance and they took steps to meet them half-way.
“We were actually motivated to go back and develop a value proposition that answers their needs so that they can build that flex and achieve what they want,” he said.
The Future Flex account is different from other accounts by the fact that it is actually meeting the needs of young people following a survey that Standard Lesotho Bank conducted.
The bank is also bringing newly designed debit cards for the youth. “No bank charges, no monthly management fee but they will start accessing the lifestyle benefits when they start paying the monthly management fee,” he said.
To make things juicier they offered a prize of M1 000 to the audience that participated by giving comments or asking questions during the webinar. Mokhasu Notši walked away with that prize.
Notši told thepost that he was delighted to win the prize which came as a big surprise for him. “They have helped me a lot because it arrived at a most critical time.
All thanks to Standard Lesotho Bank,” he said. He talks about Future Flex account as “a very important platform that responds to the needs of the youth”.
“The general accounts are a bit expensive for us in terms of charges because already we don’t get enough money,” Notši said. Notši said the fact that this new account will enable the user to access free withdrawals will help them save the little they have.
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