Wio Bank has unveiled Wio Family, the UAE’s first fully shared banking platform, designed to help households manage finances collectively. Launched ahead of the UAE’s Year of the Family, the service allows two primary account holders, termed ‘Family Leads,’ to open a shared account and invite family members, including children, teenagers, and relatives, to join. The platform offers tools for shared spending, saving, and budgeting, providing families with greater financial clarity and control. Virtual cards and permission settings enable Family Leads to set spending limits, track transactions, and manage access for each member through a single dashboard. For children aged 8 to 17, dedicated ‘Pockets’ with spending caps and saving features are available to teach money management. Families maintaining a minimum balance of Dh35,000 can access all benefits free of charge; otherwise, a monthly fee of Dh49 applies. Jayesh Patel, CEO of Wio Bank, emphasized the platform’s focus on treating money as a shared resource, offering families ‘clarity, flexibility, and control.’ CMO Amina Taher highlighted the platform’s role in helping families save for joint goals such as homes, education, or weddings, bringing everyone together for shared financial success.