CUSTOMERS are being wooed by their banks with attractive rewards and gifts for their business and children who have their own bank account are no exception.

OCBC Bank has recently introduced the Mighty Savers vending machine at its Hougang Mall branch.

Instead of drinks or snacks, the vending machine will allow kids to redeem rewards - like toy mascots or stationery - they have earned through a children's savings programme.

The OCBC Mighty Savers programme, introduced in 2007, encourages children to save with a sticker-card.

Every time a child saves a dollar, they get a sticker and they stick it on a card.

Once $20 is saved, the cash goes into the child's savings account, and the bank hands over a gift.

But now with the vending machine, children can redeem their rewards, even if the bank is closed for the day.

Ms Ng Li Lian, head of marketing services at OCBC said the concept is the first of its kind here and just another example of the convenient solutions the bank has rolled out for customers. The pilot project will be extended, over time, to more 24-hour Fastlanes, alongside its ATMs, cash deposit machines, passbook update printers and cheque deposit boxes.

FRANCIS CHAN

This article was first published in The Straits Times.