In London: a bank teaches its clients’ children how to manage their pocket money
To encourage children to save, Metro Bank has installed a machine where clients’ children can insert their pocket money.
According to a study carried out in France in 2010, 90% of children have a bank account before the age of 11 (Source: LeParisien). Banking education is being used more and more by banks to educate their future clients.
Metro Bank’s main branch in London allows children to get to know the banking world in a fun way. A cash machine allows them to deposit their coins and gets the children to try and guess how much they’ve put in. If the total is the same as on the ticket, they win prizes worth up to five pounds: t-shirts, caps etc. This Magic Money Machine keeps children entertained during their parents’ appointments, and introduces them to the concept of spending and saving. Metro Bank has revisited the traditional banking service.
1 Southampton Row
London, WC1B 5HA