SavingsLIV DIGITAL BANK BY EMIRATES NBD
Liv Goal Account
No monthly fee
Interest rate: Up to 4% p.a., paid monthly
No minimum balance
- Interest Rate
- 1% a year
- Age Range
- 8 to 18
- Card Limits
- AED 15,000
Liv Lite
A supplementary account and debit card for a child aged 8 to 18, opened from a parent's Liv account. Pays 1% a year, with no fee and no minimum.
Opened from inside the Liv app. You need a Liv Primary Account first.
Staff code
KREDIT
Liv asks for this on the Contact details screen when you open your account.
Liv Lite is two apps and one account. The child gets the Liv Lite app; the parent keeps Liv X and opens the account from inside it. Everything the child can do is set on the parent's side.
The parent sets the monthly ATM ceiling and the monthly card ceiling, each up to AED 15,000 and set independently, decides whether bill payments are available, and whether the child can send a money request. The card can be locked from either app, and every transaction is visible to the parent as it happens. There is no per-merchant blocking, no category limits, and no spending schedule. The controls are a ceiling and a set of on-off switches.
Benefits
Interest On Any Balance
1% a year on balances up to AED 500,000, paid monthly
Interest is calculated on the end-of-day balance and credited monthly. The portion of a balance above AED 500,000 earns 0.25% a year.
Debit Card With Parent-Set Limits
ATM and point-of-sale limits of AED 15,000 a month each
The card is optional and requested in the app. A parent sets the ATM and POS limits, can enable or disable bill payments, and can lock the card instantly if it goes missing.
Separate Parent And Child Apps
The child gets the Liv Lite app, the parent keeps Liv X
Spending appears in both apps. The child can request money from the parent, who approves it in Liv X, and the request feature itself can be switched off.
Tasks With Rewards
Set chores or goals that pay out on completion
Choose from predefined tasks or write your own, each with an amount attached. Bill payments can also be handed over, which is the point rather than a feature.
Fully digital, no branch visit
Account opening
Rates
The account pays 1% a year on balances up to AED 500,000, calculated daily and credited monthly. A balance of AED 20,000 earns AED 200 a year, which is more than most UAE current accounts pay an adult. Interest arrives monthly, so a child can watch it land.
1%
Up to AED 500,000
Calculated on the end-of-day balance and credited monthly.
0.25%
Above AED 500,000
Calculated on the end-of-day balance and credited monthly.
Fees
Free
Monthly fee
No account fee and no minimum balance.
25AED
Debit card
Charged once, when the card is requested. The card is optional.
15,000AED
ATM limit
Set by the parent in the app, up to this ceiling.
POS limitAED 15,000*
*Set by the parent in the app, up to this ceiling.
Eligibility
8
Minimum Age
UAE resident
Residency
A parent with an active Liv account
Liv Lite is opened from the parent's Liv app, not applied for separately.
Aged 8 to 18
The account is designed for this range; it is not a standalone adult account.
How to open
How to open a Liv Lite account
1.Open the Liv X app on the parent's Liv account.
2.Add a family member and choose Liv Lite.
3.Enter the child's details and set their username.
4.Request the debit card and set its ATM and POS limits.
5.The child installs the Liv Lite app and signs in.
Documents
Good to know
Limits, and what happens at 18
There is no cheque book and no conversion path into an adult account. At 18 the child opens their own account rather than converting this one, and nothing carries over automatically, so the balance will need moving.
The account sits underneath the parent's Liv relationship. It is opened from an active Liv account, and closing the parent's account affects the child's. Choose the Liv Primary Account on its own merits first.
Frequently asked questions
Get answers to common questions about the Liv Lite
Similar accounts
Savings
CurrentLIV DIGITAL BANK BY EMIRATES NBD
Liv Primary Account
Monthly fee: AED 25/month, waivable
Transfers: Quick Remittances
No minimum balance