Minimum age
8 years
Wio Kids Saving Spaces
Wio Kids Saving Spaces let children aged 8 to 17 save towards goals inside Wio Family at 10% a year, set up by a Family Lead who banks with Wio.
An existing account with Wio is required for the Family Lead, such as Wio Family Account.
At a glance
Key facts
Annual Rate10% interest
Age Range8–17
Card LimitsParent controls
Account access
Open in the app.
The Family Lead needs an existing Wio account; the child does not need an account of their own.
Kids Saving Spaces are savings pots for children inside Wio Family. A child aged 8 to 17 sets a goal and watches the money grow at 10% interest a year, in the same Wio Personal app the parents use. The child does not need a Wio account of their own. A Family Lead, an adult who is already a Wio Personal customer, invites the child as a Family Member.
Spending money is kept apart from savings. It sits in a Pocket, a pot the Family Lead funds, with a card for the child and limits the lead sets. See the Wio Family Account for how leads, members and Pockets fit together.
Who can open it
Children aged 8 to 17
Kids Saving Spaces and Pockets are for Family Members in this age range.
A Family Lead who banks with Wio
An adult Wio Personal customer sends the invitation. The child needs a unique mobile number.
Interest
In plain words
- Annual rate
- The rate is quoted for a full year. Money held for part of a year earns the matching part of it. More on this
What your money earns here
Held for
1 year
The amount and the rate stay the same for the whole period, and the interest is paid out, not added to the balance. Try other rates
AED 1,000
interest over 1 year
10%
a year
interest earned over time
Benefits
Savings Goals for Children
Children set a goal and follow their progress in the Wio Personal app.
Parental Card Controls
A Family Lead sets spending limits and expiry dates on the child's card.
Fully digital, no branch visit
Account opening
How to open
Before you apply
1.Open in the app.
2.The Family Lead needs an existing Wio account; the child does not need an account of their own.
Documents and terms
Good to know
Good option for
Parents who already bank with Wio and want a child aged 8 to 17 to practise saving towards a goal of their own.
Consider another account if
Neither parent is a Wio customer, or the child is under 8. Compare other savings accounts.
What the Family Lead is responsible for
The Family Lead is responsible for everything a child does as a Family Member, including every card transaction. A lead can remove a member in the app at any time. The Pocket and its card are then switched off straight away, and any money left in the Pocket moves to the Family Account. Wio recommends setting lower spending limits for children and keeping an eye on how the card is used.
Frequently asked questions
Get answers to common questions about the Wio Kids Saving Spaces