How do financial organizations approach children?
Our report includes analyses of both third-party research and data from our own internal study. The main source for the data in the report was Statista and a dedicated survey of 69 families in the UK.
63.8% of parents feel safe about giving money to their children.
71% of them feel comfortable with their children having a prepaid payment card.
Only 31% of parents talk to their children about money to help them understand how to save more, 30% to teach them how to shop online, and 20% about payment cards.
43% of students do not know the difference between a debit and a credit card.
30% of those surveyed stated that their parent taught them nothing about managing money.
Download the full report to get a complete picture of banking for families. We hope that the insights will be useful in designing digital products targeted at families and especially children, but also come in handy when it comes to building a marketing strategy.