Denzel Dumfries and BUUT team up to build a financially strong generation

Neobank partners with Dutch football icon to teach young people how to budget

BUUT, the new bank from the creators of Tikkie, is teaming up with Dutch international footballer Denzel Dumfries. Their shared goal: to teach teenagers how to manage their money in an accessible and fun way, and so build a financially strong generation. There is more to the partnership than just linking names: BUUT and Dumfries will be working with teenagers to create content for social media, the BUUT app and the website. With a view to financial education, it will cover topics like budgeting, saving and keeping track of your finances.

The newly launched BUUT bank offers a banking app where young people can spread their money across various payment and savings pots, making budgeting clear and tangible.

Sanne van Kuijk (Head of Growth at BUUT): "More and more young people are financially vulnerable or unhealthy. Added to that, one in five parents is unsure about how to teach their children to manage money. BUUT helps teenagers and parents get more control. And who better to do this with than Denzel Dumfries? Denzel is a fantastic role model for Dutch teenagers. He has both feet on the ground, actively helps young people and is living proof that dreams can come true as long as you work hard for them. We at BUUT are incredibly proud of our partnership with Denzel and can’t wait to create great content together that will help young people become more financially confident in an engaging way."

Denzel Dumfries: "I know from personal experience how important it is to learn how to manage your money well. I also know that this is not a given for everyone. Until I was 18, I lived an ordinary life like so many kids in the Netherlands. I had to count every euro, and my part-time job in a supermarket taught me how important it is to be smart with money. I also saw around me what can happen if you aren’t brought up that way. Together with BUUT, I want to spotlight the theme of money and budgeting in a fun way, so that we can truly make a difference. I’m glad I can contribute to building a financially healthy generation."

DUCE

Denzel Dumfries’ social engagement is not new. Together with his family, Denzel runs DUCE (Dumfries Unlimited Care and Education), a remedial education centre in South Rotterdam that supports vulnerable young people with care, education and equal opportunities. Recently, the family business added the Young Harvest to its initiatives – a restaurant where young people can take their first steps in working life.

Smart payments, savings and planning – all in one app

BUUT gives young people a direct experience of how budgeting works: for every payment they make, they need to select the pot they want that payment to be made from. If a pot is empty, they can’t make any more payments from it (‘empty means empty’). This makes managing money clear and tangible. Payment pots are useful for things like clothing allowances and snacks, while savings pots can be used for bigger goals like a new phone or a game. BUUT users earn 3% interest on savings up to € 1,500 and 1.5% on amounts above this. They can also send and receive Tikkie payment requests directly from a pot. New users receive a starting credit of € 25 as soon they have agreed an allowance with their parents and the first allowance is paid into the pot.

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About BUUT

BUUT is the new bank from the creators of Tikkie. Like Tikkie, BUUT is part of ABN AMRO. Through BUUT, teenagers can use handy pots to save up money and make payments easily. The app is designed specially for a new generation – simple, visual, user-friendly and interactive. It Tikkies a different box than other banks. As part of ABN AMRO, BUUT is covered by the Dutch Deposit Guarantee Scheme and combines the reliability of a large bank with the fresh energy and innovative power of Tikkie. More information: www.buut.com