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New Zealand bank ASB introduces a cashless money box for kids

As the film below explains, the Clever Kash money box allows you to give your children their pocket money virtually, via an app. The process is quite fun – kids can sweep coins on the app over towards their elephanty bank (hmmm, this doesn’t quite have the same ring as piggy bank) and watch the numbers on its screen go up.

The aim of Clever Kash is to teach kids about saving, but it is also a clever method by the bank to draw in new young customers (remember the success of the Natwest piggy banks in 1980s?). Plus, with parents presumably in charge of accessing the money, kids can’t just raid the bank and spend it all on sweets (actually, this aspect makes me feel a little sad).

Clever Kash was invented by ASB and Saatchi & Saatchi New Zealand, in collaboration with ASB’s Technology & Innovation Labs, the Saatchi & Saatchi innovation team, Assembly, Kamahi Electronics and 4Design. ASB customers are currently requested to register their interest in receiving one online at cleverkash.asb.co.nz/.

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