#FinancialInclusion / New child-friendly savings and investment app Beanstalk breaks onto the scene

Beanstalk promises to “revolutionise the way families put money aside for their children’s future” . The child-friendly account is free to open but users have to deposit £5 as a minimum to get started, after that, there are no minimum contributions and it only carries a 0.5 per cent fee… any member of the family can contribute to it…

Beanstalk was founded by two city veterans, Julian Robson and Cem Eyi, who saw a gap in the kid-focused savings market. Like its grown-up counterparts, such as Moneybox, Beanstalk users can choose how their money is invested, between a global shares fund and a cash fund and whatever proportion they choose, with a handy slider tool to make life even easier.

[CEO and co-founder:] “While the fintech revolution has dramatically changed the landscape for much of financial services, it has passed the child savings and investment market by.”