Solarisbank cooperates with fintech Clanq

Together, the German and Swiss start-ups are implementing a banking app aimed at families.

Berlin-based Solarisbank is collaborating with Zurich-based fintech Clanq on a banking app. Solarisbank will also hold the bank accounts that customers set up for the banking app, according to Finance Forward reports.

The app is aimed at families: each child has their own sub-account. When the parents make purchases, the children receive a cashback of 0.1 percent on their account. The parents' account is free of charge. A child account costs 95 cents per month. There are even supposed to be other unusual features such as an ETF savings plan for the children.

One drawback for many could be that the children do not receive a bank card. However, the start-up plans to introduce one at a later date. In addition, the cashback for children will soon be higher for some companies: Up to now, you have had to pay 1,000 euros to get the children's account management fees back.