Five years ago I went to Standard bank and opened savings accounts for the kids. I dropped in a lump sum and forgot about it as (at 7 and 11) they weren’t very interested (Dad was an ATM, after all!). But they knew about it and have been agitating lately for ACCESS, Dad! Let us get our hands on the loot!
OK, I’ll look into it, I say – but I have forgotten the PIN numbers so I stall and procrastinate. Then I got a letter saying now that Jess has turned 16 she is no longer eligible for this “SPECIAL kids savings account” and would I open a new account please.
So today I did that thing I dread and avoid: Went to visit the bloody banksters.
And guess what interest I learn they have earned these last five years and three months? Zero. Fokkol. Nothing. 0%.
“Oh, no, this is a Sum1 account, it doesn’t earn interest” they blithely tell me! I was farking furious. What KIND of ‘kids savings account’ is a zero interest account?!
I have asked for (OK, demanded) FULL INTEREST for the full term. Let’s see where this goes . . .
edit: Nowhere. Bloody thieves.