Bikash brings ‘Student Account’ for 14-18 year olds

Bikash brought ‘Student Account’ for the first time in the country’s mobile financial services. Aiming to create a cashless society and prepare the future generation for digital transactions, this special account for children below 14-18 years of age will be linked to their mother’s or father’s Bikash account. Digital birth certificate, mother’s or father’s Bikash account number and their consent are required to open this ‘Student Account’. This ‘Student Account’ has been introduced as per the instructions of the Central Bank to bring the new generation into digital financial inclusion in the smart economy of the country.

Services that are available
The service list of this account has been created keeping in mind the needs of the age group below 14-18 years. Students can use this account to pay school and college fees, make small daily purchases, recharge mobile phones, send money to someone, and pay bills. As per the instructions of Bangladesh Bank, a maximum of Tk 30,000 can be kept in this account. These account holders can transact up to Rs 5,000 per day and a maximum of Rs 25,000 in a month. Money can be received through Send Money in ‘Student Account’ but there is no opportunity to use Cash In or Ad Money service here.

How to open a ‘Student Account’
To open ‘Student Account’ with Bikash App, first download the app and tap on Login/Register. You have to select the ‘Birth Certificate’ option with your mobile number. Here you have to take the digital birth certificate photo and enter some other personal information and proceed to the next step. Then select mother or father as nominee and confirm with their active development account number. A verification code will be sent to that number. Registration must be completed immediately or within the next 48 hours using the verification code. After successfully opening this ‘Student Account’ by following the specified steps, the students are getting a bonus of 25 rupees on the new account from Vikas. Moreover, there is a chance to get another 105 rupees bonus subject to certain conditions after doing certain transactions.

How parents supervise
A ‘Student Account’ can be opened subject to the consent of the mother or father. A mother or father can manage all transactions of their child’s ‘Student Account’ from their Bkash app statement at any time.

About this new service, Chief External and Corporate Affairs Officer of Vikas, Major General Sheikh Md. Monirul Islam (Retd.) said, ‘We applaud this contemporary initiative of the Central Bank to prepare the future generation for digital transactions. In future all daily transactions will be cashless and part of life. As today’s newcomers become familiar with the digital payment ecosystem, the sooner they become proficient in their financial transactions and management. This opportunity to open a ‘Student Account’ at Bikash for new customers will be a milestone in the country’s financial inclusion.’

He also said, artificial intelligence, virtual reality, augmented reality, robotics, big data – these digital technologies are now ahead of everyone. Facilitating easy, secure and fast financial transactions digitally through MFS accounts will make them interested in new technologies and strengthen the ecosystem of cashless digital payments in the country.