A bank account can help in daily life by providing a place to store money, access money, and earn interest on money. There are so many benefits of having a bank account in today’s time. However, many people still do not have a bank account, and this can have many reasons. One may have no time to open a bank account or may have a fear of providing their personal information. Many banks are offering many services to their customers. However, now with technology, it has become easy for many banks to reach out to their customers.

National Bank of Kuwait (NBK) is the largest bank in Kuwait and one of the largest banks in the Middle East, with the most people having their accounts in this bank. It was established in 1952 and had a network of over 160 branches and 700 ATMs in Kuwait. The bank offers a range of banking products and services, including personal and corporate banking, investment banking, private banking, Islamic banking, and treasury and capital markets.

National Bank of Kuwait (NBK) is a public company listed on the Kuwait Stock Exchange. It has a market capitalization of KD5.6 billion (US$18.8 billion) as of May 2016.

The bank's major shareholders include the Kuwait Investment Authority (KIA) (30%), the Public Institution for Social Security (PIFSS) (9.9%), and the Kuwaiti government (5.4%).

Banks typically offer the following services for daily use:

- Checking accounts

- Savings accounts

- Loans

- Credit cards

- Debit cards

- Online banking

- Mobile banking

- Financial planning

- Investment services

- Foreign currency exchange

Currently, banks are trying to attract customers by giving them exciting offers like tickets to the upcoming FIFA 2022 World Cup matches or even offering miles option (wherein customers can get as much as one million miles offer if they start their account with the respective banks).

What is Mile’s program offered by the banks?

The Miles program is a loyalty program offered by banks that allows customers to earn points for every dollar they spend on all of their transactions. Customers can then redeem these points for travel, merchandise, or cash back.

How is NBK Bank giving out miles offer to its customer?

NBK (National bank of Kuwait) is all set to put out a lucky draw which will give 70 winners who use their debit or credit cards frequently one million free miles with 6 leading airline carriers – Etihad Airways, British Airways, Qatar Airways, Turkish Airlines, Emirates Airlines and Kuwait Airways.

How to qualify for the miles program -

If a customer spends KD 200, they get 1 chance to enter the draw, and if they spend this on international travel or outside the country, they get 2 chances in the draw.

Even Al Shabab Customers (student bank account holders) are eligible for this offer. However, they need to transfer their student allowance into this bank so as to enter the contest.

With the miles offered, customers can go to any part of the world wherein the airlines mentioned above function, which will help customers save huge amounts of money in the long run.

What are the documents needed for opening an Al Shabab bank account?

The necessary documents needed for opening an Al Shabab bank account are a government-issued photo ID, proof of address, and your Social Security number. Students can also transfer their savings accounts from different banks to NBK bank and avail themselves of all the services which the bank provides.

Benefits of student savings account (Al Shabab Bank Account)

  1. Access to funds: A student savings account gives you easy access to your money when you need it. You can typically make withdrawals and deposits at any time, and you may even be able to use an ATM or debit card to access your account.
  2. Higher interest rates: Student savings accounts often offer higher interest rates than regular savings accounts. This means you can earn more money on your savings over time. 3. No monthly fees: Many student savings accounts have no monthly fees, so you can keep more of your money in the account.
  3. Flexibility: Student savings accounts are typically very flexible, so you can use them for a variety of purposes. For example, you can use them to save for tuition, books, or other expenses.
  4. Peace of mind: Knowing that you have money saved up can give you peace of mind and help you focus on your studies.

How Banks help in online money transfers easily?

You can transfer funds directly to bank accounts anywhere in the country. All you need to do is link your bank account and bank name online. Once done, you can schedule your payments and transfer the amount directly to the beneficiary's account at the click of a button. Some important features are - Schedule future and recurring transfers,Personalise your dashboard for quick access to your favourite services, Use the app to avail convenient banking and money management on the go, select beneficiaries with an option to key in the beneficiary account number or select from existing accounts, Transfer in multiple modes.

There are many benefits to having a student savings account at NBK, including having a place to store your money, being able to access your funds easily, and receiving interest on your deposits. There are also some fees associated with having a bank account, so be sure to research the options before deciding the right scheme for you if you are going to invest within the bank.