Wio Bank has introduced Wio Family, the UAE’s first fully shared banking experience, designed to revolutionize how families save, spend, and plan together.
Wio Family offers shared banking, built in response to a growing need among households for a more collaborative, transparent, and intuitive way to manage money.
As the UAE embarks on the ‘Year of Family’, a year dedicated to celebrating the importance of strong family bonds and unity, Wio Family aligns perfectly with this theme by acknowledging that money is rarely an individual matter.
This innovative service reflects the evolving nature of family finances, emphasizing collaboration and transparency in how families manage their money together.
Co-created with real families across the nation, the new experience brings every household member into one connected financial space – through a shared bank account – helping them make better decisions, reach shared goals, and build healthier financial habits.
Two ‘Family Leads’, the account owners with equal control, can instantly open the account and invite children, teens, helpers, or relatives to join, making it easier to manage money together.
Jayesh Patel CEO – Wio Bank
“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. With this launch, we’re rethinking how families manage money, helping them grow together and achieve more of their goals.”
Wio Family: The Ultimate Financial Solution for Families
Wio Family also makes it easier for households to reach goals and achieve dreams faster. Family Fixed Saving Spaces offer up to 6 percent interest per annum (with salary transfer), the highest across Wio. Families can also enjoy all Family and Personal benefits for free with a total balance of $9,530 (AED 35,000) or more.
A suite of smart shared tools allows families to stay in control of everyday spending. Shared virtual cards and smart controls allow Family Leads to set limits, track every dirham, and tailor permissions for each member from one intuitive dashboard.
With boosted cashback rewards up to $2,042 (AED 7,500) per month collectively, including 1 percent on Family debit spends and up to 2 percent on individual spends, families benefit more from the spending they already do.
The Bank said that Wio Family is now accessible through Wio Personal, with additional features and enhancements set to be rolled out in the coming months, further enriching the collaborative banking experience for families.
