JOEY is a modern digital banking experience designed specifically for children and teenagers

In a world where digital payments, mobile apps and instant transactions are becoming the norm, financial literacy is no longer a skill reserved for adulthood. Today’s children are growing up in an increasingly digital financial environment, where understanding how money works is just as important as knowing how to use technology.

Recognizing this reality, Bank of Cyprus has developed JOEY, a modern digital banking experience designed specifically for children and teenagers. The application combines technology, security and financial education to help young people take their first steps in managing money responsibly, while giving parents the confidence and oversight they need.

At its core, JOEY is an educational tool that helps young users build healthy financial habits from an early age.

Learning the basics of money management

For many children, the first real interaction with money begins with pocket money. Yet learning how to manage it – how to save, spend wisely and set goals – can be challenging without the right tools.

JOEY provides a simple and engaging way for young users to understand these concepts. Through the dedicated app, children and teenagers can track their balance in real time, see how much they have spent and monitor their savings progress. This transparency encourages them to think more carefully about their spending decisions and understand the consequences of their financial choices.

The platform also introduces young users to the concept of financial goals. Instead of simply spending their pocket money immediately, they can set targets for something they want to buy in the future and gradually save towards it. The app visually shows their progress, motivating them to stay committed and reinforcing the value of planning ahead.

In this way, JOEY becomes a practical learning experience – one that helps transform everyday transactions into lessons about budgeting, saving and responsible spending.

Safe and supervised financial independence

While JOEY empowers young people to take control of their finances, it does so within a secure environment designed to give parents peace of mind.

Parents or legal guardians remain fully connected to their child’s account through the Bank of Cyprus mobile banking app. They receive notifications about transactions and spending activity, ensuring full visibility of how the account is used. This transparency allows parents to help guide their children’s financial decisions while gradually encouraging independence.

The system also includes built-in safeguards. Purchases from certain merchant categories – such as alcohol or gambling – are automatically restricted, while overdrafts are not permitted. In addition, guardians can instantly freeze the card if it is lost or damaged, adding an extra layer of protection.

These features ensure that children can learn to use money and digital payments responsibly, while parents maintain the necessary oversight and security.

A digital experience designed for a new generation

Today’s young people are digital natives. They are comfortable using smartphones and mobile applications to interact with the world around them. JOEY meets them in that environment by offering an intuitive, user-friendly experience designed specifically for their needs.

Once registered, each young user receives their own JOEY card, which can be used for purchases in physical stores or online. The card is globally accepted through the Visa network, allowing children and teenagers to experience real-world financial transactions in a controlled setting.

The platform also supports digital payments such as Apple Pay and Google Pay, where age requirements apply, enabling young users to experience the same payment methods increasingly used by adults.

One of the most popular features is “€ at the moment”, which allows a child to send an instant request for pocket money directly to their guardian through the app. Once approved, the funds are transferred immediately.

Building financial confidence from an early age

Research consistently shows that financial habits formed in childhood often carry into adulthood. By introducing young people to responsible financial behaviour early, families can help them build confidence and independence in managing money later in life.

JOEY plays an important role in this process. Through daily interaction with the app and card, children become familiar with concepts such as budgeting, monitoring expenses and saving for goals. Instead of learning about finance only through theory, they gain practical experience in a safe and supportive environment.

This approach aligns with a broader commitment by Bank of Cyprus to promote financial literacy and empower the next generation with the tools they need to navigate an increasingly complex financial world.

Turning everyday transactions into rewards

Beyond financial education, JOEY also offers additional benefits that make the experience engaging for both children and parents.

Through the JOEY Extras programme, everyday purchases can unlock rewards, discounts and special offers across a wide network of partners.

These benefits range from discounts at popular restaurants and cafés to cashback on selected online gaming platforms and offers across entertainment and shopping categories.

For young users, these rewards make financial management more interactive and enjoyable. For parents, they add practical value while reinforcing positive financial behaviour.

As financial services continue to evolve, the ability to combine technology with education will play an increasingly important role in shaping how future generations interact with money.

JOEY represents an example of how banks can support families in this transition. By creating a digital banking experience tailored to young users – while maintaining strong parental oversight – Bank of Cyprus helps bridge the gap between financial education and real-life financial behaviour.

With its combination of intuitive technology, strong security features and practical learning tools, JOEY is helping a new generation develop the skills they need to manage money confidently and responsibly.