Wealthsimple introduces kids accounts as it expands into family banking
Wealthsimple is launching new family-focused financial products, including kids and teens accounts that allow parents to pay extra interest on their child's deposits. This initiative aims to help Canadians manage their finances more effectively at various life stages. The new accounts are expected to launch this fall and will feature a trust structure owned by parents until the child turns 18.
- ▪Wealthsimple is expanding into family banking with new products aimed at children and teens.
- ▪The kids and teens account allows parents to pay extra interest on their child's savings to encourage good financial habits.
- ▪Wealthsimple's new tools will help families manage finances collectively and teach children about money.
Opening excerpt (first ~120 words) tap to expand
Open this photo in gallery:The Wealthsimple app in 2024. The company is launching new family-focused products, including a kids and teens account that lets parents pay extra interest on their child’s deposits.Giordano Ciampini/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountWealthsimple is rolling out a new suite of family-focused financial products as the Toronto-based fintech expands further into everyday banking services.The company is set to announce the products Thursday at an event in Calgary, including a kids and teens account that allows parents to pay extra interest on their child’s deposits to encourage savings habits.The new tools are designed to help Canadians “have a single place that grows with them at every stage of life,”…
Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
Discussion
0 commentsMore from The Globe and Mail
