PETALING JAYA: Public Bank has launched the PB Journey mobile application to assist parents in inculcating savings habit and educating their children on financial planning.
The newly launched app, which complements the PB Journey Programmes, focuses on children and parents for a start as part of the bank’s priority on educating the younger generation about managing wealth.
This application will provide the opportunities for more interaction between parents and children during the various movement control order period.
“The PB Journey app for parents and children comprises two modules, the Pocket Money module and Goal Setting module. These features aim to create interactive learning between parents and children on the value of money and also achieving their savings goal,“ the bank said in a statement today.
It added that parents and children can create a task under the Pocket Money module where children will be rewarded with Pocket Money as soon as they complete the task, while for the Goal Setting module, it allows children to save pocket money and earn interest.
“Parents can help their children set their savings goal where they can save gradually during the goal tenure selected to achieve their targeted goal amount. The goal’s interest rate is calculated daily and credited monthly at attractive savings interest rates.
“By going through these modules, parents have the opportunity to educate their children on how to manage their pocket money and to inculcate the savings habit at a young age,“ it said.
In addition, educational videos are available in the PB Journey app to educate children on financial planning, to raise awareness on the importance of savings, and to inculcate savings habit.
Customers are required to maintain a WISE Savings Account for their children to register for the PB Journey app, followed by signing-up for mobile banking (PB Engage) and lastly, install the PB Journey app on a smart device.