Overjoyed child hugs her mother.
Financial Literacy

Saving for children

Parents always want the best for their children. This also involves providing for their financial future: for bigger needs, their studies, driving lessons, and to get them off to a good start in life. Find out what is important when saving for children and what options there are for parents, grandparents, and godparents.

Saving should start as soon as it is financially viable. Because, the older the children, the greater the expenditure: For example, if children want to learn to drive or study in another city, that will cost money. Saving for such expenditure is most effective if you have plenty of time. Even small amounts paid in regularly will suffice.

Saving as parents, grandparents, and godparents

With a Gift savings account, you can provide a financial basis for your child or for a child who is dear to you.

Who can open a Gift savings account?

Parents, grandparents, godparents, or friends of the family can open a Gift savings account in their own name for their children, grandchildren, or godchildren.

How much do I need to pay into a Gift savings account?

Regular savings amounts and larger monetary gifts can be paid into the Gift savings account. You are completely free to choose the savings amount and can make changes at any time.

And how do I give the saved money to the child?

On the child's 18th birthday, you will receive a gift certificate that you can present to the young person, which will allow them to access the money that has accrued. The money will only belong to the young person once they have withdrawn it.

Saving as a child

It is not only saving by family and friends that helps children in later life. It is equally important that children gain their own experience with money. "If they are unsure about dealing with money, there is a significant risk that children and young people will fail later on when organizing their finances," explains Urs Abt, psychologist and inventor of the teen allowance. The Viva Kids Banking Package accompanies children on their first steps toward financial independence: With Digipigi and the Digipigi apps, children are introduced to the world of finance in a fun and simple way – always accompanied and supported by their parents.

Who can open Viva Kids?

The Viva Kids Banking Package can only be opened by parents and guardians for their own children (0-12 years of age).

How does Viva Kids differ from the Gift savings account?

Unlike the Gift savings account, with the Viva Kids Banking Package the child is the account holder. However, for legal reasons, the parents are in charge of asset management until the child is 18. The banking package includes the Digipigi digital money box and the Digipigi apps, which help children learn how to handle money. From the age of seven, children can optionally have their first own Maestro card and practice using it under safe conditions.
In addition, children can enjoy exciting learning adventures relating to money with the Viva Kids gang in Viva Kids World.

Does the child have access to the Viva Kids Savings account?

Yes, all the children's savings can be viewed in the associated Digipigi app. Children can have access to this money using the optional Maestro card.

Can the Viva Kids Savings account also be combined with an Investment fund savings plan?

An Investment fund savings plan is still very complex for children. For that reason, the Gift savings account is better suited to being combined with an Investment fund savings plan than the Viva Kids Savings account.

Did you know? When the child turns 12, the Viva Kids Banking Package is automatically converted into a Viva Young Banking Package. This means that your child can continue to benefit from preferential interest rates and attractive offers.

Advantages of Viva Kids for saving

With the free Viva Kids Banking Package and Digipigi, children under 12 years of age can learn to deal with money responsibly at an early stage:

  • Digipigi: Digipigi, the digital money box, makes saving fun with sounds and facial expressions.
  • Digipigi apps: Among other things, the Digipigi app for children supports them in pursuing and achieving their saving goals. With the Digipigi app for parents, you can manage your child's pocket money and keep an overview of their account balance at all times.
  • Their first own Maestro card: At the age of seven, children can optionally have their first own Maestro card and gain initial experience with digital money.
  • Preferential interest rate: With 5% interest on the first CHF 1,000, children benefit greatly from the Viva Kids Savings account and learn about the impact of interest rates.
  • Viva Kids World: In Viva Kids World, children can enjoy exciting learning adventures relating to money. Parents have access to exclusive information and expert opinions on financial education.