Combank offers free debit cards to teens opening new Dotcom savings accounts

Teenagers and pre-teens who open new Dotcom teen savings accounts with Commercial Bank of Ceylon will be offered a debit card, free of charge, until the end of August, the bank has announced.

These Near Field Communication (Nfc)-enabled Dotcom debit cards can be used by these teen savings account holders for point-of-sale (POS) transactions or to make online, contactless or Qr-based payments through the Combank Q+ Payment App, enjoying convenience and safety when managing their own finances and experiencing financial freedom while keeping track of their banking transactions.

The Dotcom account holders can opt to receive either a Visa or Mastercard-branded debit card when they open an account within the promotion period. While the daily debit card withdrawal limit is set at Rs.10,000 for those between the ages of 10 and 16, the limit for older account holders up to the age of 18 is Rs.20,000, the bank said.

Launched to promote the saving habit and financial discipline among the teens, the Combank Dotcom account can be opened with a minimum deposit of Rs.1000. The account pays a higher interest rate over the prevailing savings rate and enables account holders to enjoy online banking and mobile banking facilities free of charge and even a mobile reload facility. Parents or legal guardians of the Dotcom account holders are entitled to obtain loan facilities for the educational purposes of the teenager. Any Sri Lankan between 10 and 18 years can open a Commercial Bank Dotcom teen account.