Money Beans

Kids like to save. But they really like to spend.

So we created a twin account system so they can do both.

The good news is—it’s fun. Deposits over $5 are rewarded with stickers. When the child’s sticker card is full, they earn a small prize.

Why it’s so popular

MoneyBeans aims to help kids develop some basic money skills.

• it rewards kids when they save
• it keeps savings and spending money separate, so a savings goal can be more easily achieved 
• lets kids experience the power of compound interest
• and it gives them plenty of control over their spending decisions

How it works

There are two linked account—one for spending (Rediaccess), one for saving (eAccess).

1. The MoneyBeans Rediaccess is the base account. Kids deposit and withdraw their cash into and out of here. When they want to put some money into their savings, they transfer it into their MoneyBeans eAccess.

2. The MoneyBeans eAccess account earns a high rate of interest on every dollar. It is an 'electronic account', so transactions are done via the phone or internet.

When your child has reached a savings goal and wants to spend it, they just transfer it back into their MoneyBeans Rediaccess account and it will be there instantly.

Questions?

If you have any questions, please contact us.

This information is general in nature and doesn't take into consideration your objectives or needs. You should consider whether it's right for you personally. Terms and conditions, fees and charges apply and are available on application or request. Subject to lending criteria.