Wio Bank has introduced Wio Family, the UAE’s first fully shared banking experience, designed to enable households to manage money collaboratively.

The service allows families to save, spend, and plan together through a shared account, reflecting the view that money is often a collective responsibility.

The account can be jointly managed by two ‘Family Leads’, who can invite children, teenagers, helpers, or relatives to join.

The service aims to accommodate different household structures, from couples and siblings to multi-generational families, offering flexible account ownership and management.

For children and teenagers aged 8–17, Wio Family includes Pockets, controlled spaces with virtual cards and spending limits to support learning about saving and spending responsibly.

Jayesh Patel, CEO of Wio Bank, said:

“Wio Family was built to address the real needs of families across the UAE, giving them clarity, flexibility, and control over their finances. It reflects a movement towards treating money as something shared, something social, not just an individual responsibility. Our aim is to build with families, for families, and deliver banking experiences that truly reflect modern life.”

Wio Family includes Family Fixed Saving Spaces offering up to 6% interest per annum (with salary transfer) and free Family and Personal benefits for accounts holding AED 35,000 or more.

Shared virtual cards, smart controls, and spending dashboards allow Family Leads to manage permissions and track expenses.

Cashback rewards of up to AED 7,500 per month are available, including 1% on family debit spends and up to 2% on individual spends.

Wio Bank plans to continue expanding Wio Family with additional tools and features aimed at supporting shared money management.

Wio Family is currently available through Wio Personal, with further updates planned in the coming months.

Featured image credit: Wio Bank