MariBank targets younger customers with planned child accounts and overseas equities

Singapore digital bank MariBank is preparing two additions to its services as it seeks customers aged 16 to 28: accounts for children and access to overseas shares. The Sea-owned bank plans the child account launch for the first quarter of 2027, with US and global equities available from early 2027.

Huo Haiyan, who heads MariBank’s consumer business, said management proposed the child accounts and a survey of parents supported the idea. Parents would set limits on their children’s transactions. Specific actions would also require parental authorisation, including connecting a debit card to a mobile wallet using a new device.

MariBank said approximately 30 per cent of its customers use Mari Invest. Of those investment customers, one in four is in their 20s. It reported rising adoption of Mari Invest Singapore Equities, but provided no detailed figures on customers or take-up.

The bank also confirmed that April marked the removal of the S$100,000 ceiling on individual Mari Savings deposits. Huo said exceeding that ceiling had prevented incoming payments and transactions from going through, resulting in a few thousand rejections each month.

Promotional rates, including bonuses associated with ShopeeVIP, can reach 2.88 per cent per annum. They cover the entire account balance, with no limit on bonus interest earnings. Huo identified the ShopeeVIP partnership as the principal contributor to deposit growth: customer deposits climbed from S$1.54 billion in 2024 to S$2.82 billion by 2025.

Huo said MariBank was also expanding customer acquisition through referrals and online marketing, rather than relying solely on Sea’s businesses. The bank said more than 50 per cent of its customers now come from outside Shopee.