Dotcom Teen Account holders, who are between the ages of 10 and 18 years, can now obtain loans for educational purposes, use their debit cards to make purchases or withdrawals and enjoy Online Banking and Mobile Banking free of charge, the Bank said.
Additionally, the parents or guardians of Dotcom Teen Account holders can transfer funds to their children’s accounts via standing orders free of charge, and receive SMS notifications on all transactions carried out with the Dotcom debit card.
Extending the benefit of cutting-edge technology to this youthful customer segment, the Dotcom debit cards are Near Field Communication (NFC) enabled for secure ‘tap and go’ transactions.
Cardholders are also eligible to receive COMBANK Max Loyalty Rewards points on all payments, the Bank said.
“The Dotcom Teen Account was introduced to stimulate the savings habit among teenagers and provide them an opportunity to manage their own finances from a young age,” Commercial Bank’s Deputy General Manager - Personal Banking, Mrs Sandra Walgama said.
“The features of the account have been periodically enhanced in keeping with changing trends and technological advances, to provide accountholders the maximum benefits possible.”
Any Sri Lankan between 10 and 18 years can open a Commercial Bank Dotcom Teen Account with a minimum initial deposit is Rs.1,000/- The account pays an interest rate of 1% above the prevailing savings rate.
Every account holder receives an attractive Dotcom branded personalised debit card which can be used to make purchases wherever point-of-sales machines are available or for online purchasing.
Dotcom Teen Account holders can receive quarterly E-statements or use Commercial Bank’s sophisticated e-Passbook facility via their smartphones or tabs.
Once a Dotcom Teen account holder reaches 18 years of age, he or she may convert the account to standard savings account at Commercial Bank and apply for a Commercial Bank international credit card or a Combank Shopping Debit Card.
The only Sri Lankan bank to be ranked among the Top 1000 banks in the world for six years consecutively, Commercial Bank operates a network of 256 branches and 668 ATMs in Sri Lanka.
The Bank has won multiple awards as Sri Lanka’s Best Bank, Best Trade Bank, Strongest Bank, Most Respected Bank from a number of local and international institutions and publications over several years and has also been adjudged one of Sri Lanka’s 10 best corporate citizens by the Ceylon Chamber of Commerce for several years.
Commercial Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets, Myanmar, where it has a Representative Office in Yangon, the Maldives, where the Bank opened a fully-fledged Tier I Bank in September 2016 and Italy, where the Bank launched its own money transfer service in November 2016.
