StorkCard has launched the world’s first current account especially designed to help parents “baby-proof” their savings and get the support they need from family, friends and others in their network. Following on from the successful launch of its baby budgeting app, StorkCard is now reinventing joint accounts for today’s modern families.
StorkCard Village is a revolutionary joint account that makes it easy for parents to coordinate child-related spending amongst themselves and with others who look after their child. Parents can add family, friends or other childcare providers as joint account users, and each Helper receives their own card linked to the joint account to cover childcare costs. Parents always have the ultimate control over who can access the account and can monitor all transactions.
StorkCard Village also offers parents smart budgeting tools and top baby brand retail discounts, enabling them to:
- Take control of their spending
- Make budgeting easy
- Save money on expensive purchases
- Have the peace of mind to focus on the joys of their baby, not the costs
Bruce Pannaman, co-founder of StorkCard, said: “Parents have always relied on family and friends (their ‘village’) for helpful support and guidance, particularly with respect to childcare. Raising a child is becoming more and more expensive, but many parents find it difficult to ask for support because they don’t want to burden anyone with the costs. StorkCard makes it easier to ask for help because it takes the awkwardness out of the conversation.”
Bruce continued: “Having a child is a monumentally exciting life stage, but the costs can be overwhelming. That’s where our idea for StorkCard came from – finding a way to better manage the shock of child-related costs, which only seem to go up!”
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The app also uses artificial intelligence to help parents create personalised cost plans and prepare for upcoming costs far in advance. As parents spend using their StorkCard debit cards, their cost plans automatically update as well.
Andres Korin, co-founder of StorkCard, added: “When your baby arrives, it is a wonderful time. But it can also be incredibly stressful, particularly regarding money issues. An increasing number of parents are using separate bank accounts but that concept becomes complicated once you have a child. We want StorkCard to make it easy for parents to co-operate and plan ahead of time and ease their financial worries. Baby budgeting has never been made this easy.”
StorkCard helps new parents manage the costly adventure of raising young children. StorkCard’s app and dedicated debit card account was created to give mums and dads the financial guidance they need to manage their costs while on leave and the assistance with childcare expenses once they are ready to go back to work. StorkCard has been recognised by The Finance Innovation Lab, Toynbee Hall, and Fair by Design. StorkCard was also featured as a noteworthy and positive social innovation in The London Assembly’s Mayoral report on the financial health of Londoners.