Credit Suisse Viva Kids Banking Package

What are the pros and cons of the Viva Kids bank package from Credit Suisse? What are the fees and interest rates?

Hi there,

The Viva Kids banking package from Credit Suisse is available to children under the age of 12. At least one parent must have a Credit Suisse private account for the child to be eligible for this package. The accounts must be opened by a parent on behalf the child.

The Viva Kids package is made up of: the Viva Kids Private Account; the Viva Kids Savings Account; the Viva Kids Maestro debit card (linked to the private account); the Viva Kids Digipigi (an electronic piggy bank); the Viva Kids app.

The Digipigi is offered free of charge when at least one parent has a Bonviva banking package. Parents who hold a regular Credit Suisse private account pay 99 francs for the Digipigi, but the Digipigi is optional and can be excluded from the package if parents prefer to avoid the expense.

No annual account fees apply to either the private account or the savings account. The private account pays 1% interest per annum on up to 1000 francs of assets, with 0.5% per annum on the portion of assets between 1000.01 and 100,000 francs and 0,01% for assets in excess of 100,000 francs.

The default debit card transaction limits are 20 francs per day and 100 francs per month, but these can be adjusted by parents to limit or extend withdrawls and POS purchases. Swiss franc withdrawals at Swiss ATMs can be performed free of charge. There is no annual fee for the Maestro debit card.

When the child turns 12 years old, the Viva Kids package is converted to a Viva Young package.

Best regards from Moneyguru

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