New Product Alert: Rubies Junior

3 min readJul 30, 2020

Bad finance habits are everywhere; people spend recklessly and save reluctantly. Damaging financial advice is even more rampant. This might seem like an adult issue, but it is not. Like all habits, children and teenagers start cultivating financial habits from a young age. For example, a child who saves N100 out of N200 he or she is given, is learning to save at the most basic level. Such practices can be built on in order to encourage saving and learn the value of it.

For parents who would like to teach their children to gain practical financial skills, Rubies Digital Bank has launched the highly rated Rubies Junior. Learning how to manage money should be an ability that all children have to stop them from cultivating bad habits. With Rubies Junior, they can do this.

The newest Rubies app takes its cue from the original Rubies App. The user can carry out transactions such as transfers and view this history on the app. The key difference is parental supervision. The creation of a Rubies Junior account is done by parents or legal guardians and every transaction on the account is observed by the adult. Children can also receive a debit card when requested by the adults. All transactions performed using the card comprise part of the history that can be seen by both the kids and their parents.

Monitoring the account helps ensure that your child’s use of the account, such as things they buy remotely or transfers that they make, are all acceptable to you. It also guarantees that the money in the account is sufficient but not too much.

Rubies Junior also has a savings component, where children can save towards a specific goal such as a new phone or a best friend’s birthday gift. Saving towards something that is important to them as opposed to blindly saving can teach the value of the price of a good and it makes this value tangible. They can see where their money is going. Savings, in general, is essential to financial security and if you have ever had trouble saving, you know how much easier it would if it was a compulsory habit you had cultivated early on in life. In the same vein, it is a stepping stone for a current account when they are older because savings would be a given and the only concern would be intelligent spending.

This is where Rubies Junior supports both parents and children once more. Rubies Junior is the product of a focus group of teenagers to whom the app is targeted. Combining the years of banking experience used to craft the Rubies Digital Bank original app as well as the wants and aesthetics that appeal to teenagers, is the foundation of this app’s development.

As a result, Rubies Junior is effectively designed to place children in the money world. In today’s digital world, introducing children to money may not be as easy as before because saving appears intangible. The speed with which you can spend N100 is the same as the speed of spending N10 000 as cash becomes less and less commonplace. It does not help that social media glamorizes the idea of luxury for little effort. With the Junior app, we have presented an effective tool for parents to teach their children how money moves in today’s world. Cash deposit options teach children how very few financial transactions stay physical and goal setting encourages spending on necessary items as opposed to spur-of-the-moment wants. At Rubies we understand that financial literacy is essential for children and Rubies Junior is here to ensure that this lesson is taught effectively.




Rubies is a Digital-only bank. We power businesses, fintech, SMEs, communities (clubs, groups, associations, churches, students etc) and Individuals