Liv Young features

General Features

• Liv Young is a unique product that allows Liv account holders to establish virtual accounts (each a “Liv Young Account“”) and issue supplementary cards (the ““Liv Young Cards“”) for their children, both linked to the Liv account holder (the ““Primary Account“”).
• All funds in the Liv Young Accounts belong to the Primary Account, however through the Liv Young product they can be assigned to the Liv Young Accounts to allow access and use by the Liv Young Account holders.
• The Primary Account holder will be liable for all use of the Liv Young Account and Liv Young Cards, including all applicable fees and charges.
• The availability of the Liv Young Account and Liv Young Cards is conditional on the Primary Account remaining valid and active.
• To use all functions of Liv Young, one must log into the Liv app since that is the sole channel for financial services by Liv
• The Primary Account holder can set debit limits for online spending, point of service spending and ATM cash withdrawal who is responsible for monitoring the usage of the Liv Young Account and Liv Young Cards.
• The Primary Account holder will have access following debit card functions for the LIV Young Card:

a. Liv Young Card activation;
b. PIN activation;
c. PIN reset; and
d. Replacement and/or issuance of a Liv Young Card

• Liv Young Card holders will have access following financial and non-financial services from their LIV young mobile application

a. Task/Chores actions – the Primary Account holder will be able to allocate tasks/chores for LIV Young Card holder to achieve and provide appropriate rewards as pocket money
b. Young app biometric set up (touch and face ID) – LIV Young Card holder can access the Liv Young App with password set by the Primary Account holder or through set up of biometrics (touch or face id ) by them
c. Payments – LIV Young Cardholder will be able to make payments to third party service providers or payments to other LIV Young users via registered email address. The payment limits and beneficiary of the payments will be approved by the Primary Account holder and the Bank will not be liable for any losses suffered by the Primary Account holder due to the payments to wrong or unintended recipient.
d. Goal accounts - LIV Young Card holder can set up specific personal goals and have their money moved from wallet to goal account. The Primary Account holder would have access to view these goals
e. View on financial summary – Liv Young Card holder as well The Primary Account holder will be able to view on spend analytics on the Liv Young App, by type of merchant/beneficiary as well as category of spend, so as to understand usage, learn about budgeting as well as manage outgoings

• The Liv Young Account and any Liv Young Cards will be subject to these special features and the Bank’s terms and conditions (insert link)(“ “Terms and Conditions“”).

Interest and fees

• All information for interest and calculation method of interest is available on the Liv Young Account Key Facts Statement https://www.liv.me/en/important-information
• Up-to-date interest rates are always shown in the Interest Rate Schedule on the Liv app.
• Any fees applicable to Liv Young Accounts or Liv Young Cards are set out in the Price Plan. https://www.liv.me/en/charges

Account Statement

• Customer can download a free statement of account at any time via the Liv app

Liv Young Account Closure

• A Liv Young Account can be closed, or a Liv Young Card cancelled, at any time. There are no early closure or cancellation charges.
• If a Liv Young Account is closed, the funds assigned to that Liv Young Account will revert to the Primary Account.

Liv Young FAQs

Please refer to https://www.liv.me/en/accounts/liv-young for any FAQs in relation to Liv Young account