We are not a bank account. In fact, we are bank agnostic, so you can have an account with any bank in the UAE and not have to switch accounts. We also provide many of the functionalities of a bank, but we have built the experience with children at the forefront, offering real-life money experiences and education that are gamified and fun!
Verity is built as a financial education app first, and a money management app second. This matters because we are centered around the learning experience. In addition:
- We focus on the importance of saving money (vs. spending), and teach children to make their own decisions as to where to move money from allowances and chores between their card and / or saving goals.
- We have prepaid debit cards for children from as young as 8.
- We are an easy-to-use app that is separate from your bank, where a parent or guardian can create the limits and controls they are comfortable with to teach their children about money. Children also have their own login and customized experience and independence.
- We offer spending limits and an option for parents and guardians to decide if the card can be used in stores, online, at ATMS, all of them, or a combination of any two.
- We offer real-time notifications for spending, saving, chores, and more.
- We digitize and automate allowances to your children, and enable you to send them money instantly at a click of a button.
- We teach kids how to earn money and value it through chores that are rewarded by youAnd this is just the beginning. We are working on adding even more features.
You can learn more about features here.