FAQs

For parents:

Liv. Young 101

I am interested to open a Liv. young account for my child what do I need to know?

To open a Liv. young account for your child, you will need a Liv. account of your own. You can open a maximum of 5 Liv. young accounts for your children between the age of 8 to 17 years and 6 months old by simply using their Emirates ID. To open an account, log in to your Liv. app and go to Products > Liv. Young and follow the steps.

When the child turns 18, you will get a notification in your Liv. app reminding you that your child should open a standard Liv. account (adult version). Your child will then be prompted to download the Liv. app (adult version) using their Emirates ID.

The interest rate will follow the parent’s interest rate basis the below guidelines:

Monthly average Balance Interest Rate
0-500K 1%
Above 500K (if you have 600K in your account, you will receive 1% on 500K and 0.25% on the remaining 100K) 0.25%

How do I open a Liv. Young bank account for my child?

All you need to do is log in to your Liv. app, go to the products tab and choose Liv. Young.

What documents do I need to open an account for my child?

We’re going to need your child’s Emirates ID just to verify their identity.

Who is eligible?

Your child should be between the age of 8 years to 17 years and 6 months for you to open an account for them.

I have more than one child? Can I open a separate account for each one?

Yes, you can. While your children will have to download the Liv. Young app individually, you can check all their details through your own Liv. app. You can open up to 5 Liv. Young accounts through one parent app.

Is it mandatory for parents to be a Liv. customer to open a Liv. Young account for their child?

Yes. Opening a Liv. account is easy. Simply download the Liv. app, scan your Emirates ID, cross-check your details and you’re done! Once you receive your debit card and activate it, you can open a Liv. Young account for your child.

What happens once my child turns 18?

Once your child turns 18, a notification will appear in your account that your child has turned 18 and will now have to open their own Liv. account. They will then be prompted to download the Liv. app (adult version) using their Emirates ID.

Are Liv. Young and Liv. two different apps?

Yes. The Liv. Young app is for kids to use while parents can track their kids’ expenditure through their own Liv. app.

Can I see all the transactions that my child is making on the app?

Yes. If you open your Liv. app, you’ll see a section called Liv. Young, under Products. Tap that, choose your child’s name and you can track their spending. It will be similar to the transaction view on your Liv. app.

Who can transfer money into my child’s account?

The parent who has opened the Liv. Young account through their app and other Liv. Young users can transfer money.

If my child doesn’t live in the UAE, can I still open an account for them?

Yes, you can but your child needs to have an Emirates ID and a valid UAE residency.

Should I also download the Liv. Young app to track my child’s spending?

No. You’ll have a complete view of how, what and where your child is spending from your own Liv. app. You can also control and set rules on your child’s app through your Liv. app.

How can I change my child’s email address and reset password?

You can change it from your Parent app.

  • To change email - Simply log in to your Liv. app > Products > Liv. Young > Settings > Change email. The email address must be valid, unique, and not registered under any other Liv. accounts.
  • To reset password - Simply log in to your Liv. app > Products > Liv. Young > Settings > Reset password. For now, your child’s password can only be reset by you through your Liv. app.

Can I set spending limits on my child’s account and where they spend?

You can set a spending limit for your child and enable or disable merchants for your child’s Liv. young account at any time. Your child won’t be able to spend more than the allowed limit. To change the spending limit, log into your Liv. app > Products > Liv. Young > Settings > Spending limit To view your child’s transactions via your Liv. app > Products > Liv. Young. Choose your child’s name to view their spend history.

Allowances & Tasks

What is an Allowance? How does it work?

You can set an allowance amount and frequency through your Parent app, which will automatically transfer a fixed amount of money to your child’s Young account on a recurring basis. You can change the allowance amount and frequency whenever you like.

What is a Task? How does it work?

You can assign Tasks to your child(ren) from your own Liv. app, and reward them for completing them. Tasks can be homework assignments, household chores, etc. And you can create as many Tasks as you like! Once you assign a Task, your child will get a notification in their app. The money you’ve set aside for completing a Task will be transferred to your child’s account once your child marks the Task complete on their Young app AND you approve it.

Can my child take up a Task on their own?

Absolutely! Your child can simply create a Task from their Young app, and it will come to you for approval.

Transfers using the Liv. Young account

What transfers are done using a Young account & can I take money from my child’s account?

A child can transfer money to any other Liv. Young account, or to their parent’s account. The child will be automatically added as a beneficiary in the parent’s Liv. app. Parents can take money from their child’s account at any time. Product > Liv young > Wallet > add/withdraw

A transfer to my child’s Young account hasn’t reached yet. Help!

Wait for 48 hours for the transfer to reach your child’s account. If it’s been longer, chat with us for help.

ATM cash withdrawal and deposit

Can I enable or disable ATM settings on the Young account?

Yes, the Parent can control settings for cash withdrawal and deposit, using the Parent app. Your child will not have access to control any settings.

Fees & charges for the Liv. Young account

Monthly Fees Your child’s Liv. Young account is free if you, the Parent, have a Liv. Prime Membership.
If you don’t meet the above criteria, a monthly fee of AED 5 (+VAT) will apply for the first Young account opened. A flat monthly fee of AED 10 (+VAT) will apply for 2 or more Young accounts opened.
Debit Card delivery AED 25 (+VAT) for first card & replacement
Transfers between Liv. Young and Parent accounts FREE
Transfers between Liv. Young accounts FREE

Debit card

Will my child get a debit card for themselves?

It’s optional to get a debit card for your child but you can opt to give them one. You will have full control over activating it and setting the PIN. Your child can get the credentials from you.

How many debit cards can I apply for?

You can only have 1 debit card at a time. If your card is lost, blocked, stolen or damaged, you can request for a new one.

My child’s account is open. When will I get the debit card?

You card will be delivered to you within 7 working days.

Who can control the activities on the debit card? For example, locking or unlocking it.

The parent will have full control over debit card operations.

Can my child change the card settings in the app?

Only the parent who have opened the Liv. account through their app will have access to changing the card’s settings.

Can my child get a debit card?

  • You can choose to get a debit card for your child, to order a debit card, simply log into your Parent app > Products > Liv. Young > Settings > Request new card or tap here.
  • A fee of AED 25 (+VAT) will be deducted from your account for the debit card delivery which will be delivered within 7 working days. Please be present at the time of delivery with your valid Emirates ID for verification.
  • Only you will have full control over activating it and setting/resetting the PIN in your Parent’s app settings page. . Once you get the debit card simply go to Parent app> Settings > Activate, at the top of the page and You’re all set!
  • Each Young account can have 1 debit card at a time. If your child’s Young card is lost, stolen or damaged, please request for a new card .

What do I need to know about the debit card PIN?

  • If you enter an incorrect PIN 3 times at a merchant, we’ll block your card for 24 hours for your safety. After 24 hours, your card will automatically be unblocked.
  • In case you enter an incorrect PIN at an ATM, your card will be captured & destroyed. Don’t worry! You can request for a new card
  • To change a debit card PIN, log in to Parent app > Liv. young> Settings and tap ‘Change card PIN

Money matters

Should I add my child as a beneficiary manually to be able to transfer money to them?

Your child will be automatically added as a beneficiary in your account once you open the Liv. Young account for them. You can also set a daily, weekly, monthly, or on-demand allowance for your child through the app.

Can parents retract funds from their child’s account?

Yes, parents will have the option to add/withdraw funds on their app.

Is it possible to set payment limits on the child’s account?

You can set a spending limit for your child and track their expenses. They won’t be able to spend more than the allowed limit.

Will parents be able to see the balance in their child’s account?

You will have complete transparency on your child’s financial activities. This includes knowing their balance and their transaction history. Please note that only the parent who has opened the Liv. account through their app will be able to see and manage their child’s account.

Is there a minimum balance requirement for the child’s accounts?

No there is no minimum balance requirement.

What are the fees and charges to maintain a Liv. Young account? Whose account will it be debited from?

If applicable, the funds will be debited from the parent account. The fees and charges are mentioned below:

If the primary account holder is an active Liv. Prime subscriber or has maintained a monthly average balance of AED 10,000 or higher in the previous month there will be no charges. If the above is not applicable, then the charges will be AED 5 per month per account.

If you have more than 2 Liv. Young accounts, the charges will be AED 10 per month per account.

Can I limit my child’s spending?

Yes, you can set any amount as a spending limit for your child, starting from AED 1. You’ll also have the control to change the limit through your own app.

Parental controls

How can I change my child’s email in the app?

The primary account holder has the access to change the email ID from their app by going to Products>Liv. young>Settings>Change email. The email ID should be valid, unique, and not registered under any other Liv. accounts

How can I change my child’s account password?

You can change the password from your app by going to Products>Liv. young>Settings>Reset password. Do remember that the password should be unique and shouldn’t be a password that’s been used earlier.

Goal Accounts & tasks:

All you need to know about Goal account

Your child can set up unlimited number of Goal Accounts to save for something they want! They can move money into their Goal account and even set up automatic rules that do the saving for them. They can change the rules and take the money out whenever they want. They simply need to log into their Liv. Young App > Products > Goal Account to get started.

Who can open a Goal Account for my child?

Your child can open their own Goal Account from their Liv. Young app. They can have multiple Goal Accounts so you can encourage them to save more.

Will my child be able to take funds from the Goal Account?

Yes, they can transfer funds to and from the Goal Account as many times as they want.

Can they alter a goal once they’ve set it?

Your child can change the rules of the Goal Account as many times as they want. They just need to choose the Goal Account and tap Edit your goal.

How does the tasks feature work?

You can assign different chores for your child(ren) through your own Liv. app and reward them for completing it. The money you’ve set aside for completing a chore will be automatically transferred to their account once they mark it complete on their app. Once you assign a chore, your child will get a notification about it and they can get to work right away. There is no limit to the number of chores you can create.

For kids:

How can I open my Liv. Young account?

You’re going to need your parents to open an account for you. Just send them the link of the Liv. Young website and they’ll know what to do.

Do I need to open an account to download the Liv. Young app?

You can download the app from the respective App/Play Store and you’ll be able to access all its cool features. You can’t perform any financial transactions till you open an account, though.

Will my parents be able to see my balance and what I’m spending?

Yes, they will be able to see your transactions.

Do my parents need to be Liv. account holders to open a Liv. Young account for me?

Yes, they need to have Liv. accounts but opening one is easy-peasy and takes only 5 minutes! All they need to do is download the Liv. app, have their Emirates ID and a working phone number ready.

Can I add chores from my end?

Of course. Just create the chore, set your payment and you can start once your parents approve it from their Liv. app.

Can I send money to my friends?

You can send money to other Liv. Young users so invite your friends to join the fun!

Will I get a debit card of my own?

Your parents need to apply for a debit card, and you can get it from them once it’s delivered.

Can my parents set a limit for my spending?

Your parents will have full visibility over your spends and can set a limit for it through their Liv. app.

For Parents
(Liv. Young is available for Liv. users with kids between the ages of 8-17)

Download
Liv. App

For Child
(Liv. Young is available for Liv. users with kids between the ages of 8-17)

Download
Liv. Young App