On Friday, 30 November 2018, the second edition of the VeraCash AfterWork event took place at the Paris Centre Eiffel Hotel.
Attendance was up threefold from the first edition, with members eager to listen to the presentations by Dany Lang and the VeraCash team. Of course, it was also an opportunity for you to share your questions, ideas, suggestions and feedback with us. The discussion was terrific and so, since we’re always thinking about all of you, we decided to report back on the evening for those members who were unable to attend, focusing in particular on one of the key products showcased that night: the VeraCash youth account!
VeraCash youth account? What’s that? ?
As the name suggests, VeraCash is now available to young people aged 13 to 17! We’d been talking about it for a while, many parents having expressed an interest in this type of product to us. We listened, and now it’s a done deal!
Just like our personal accounts, VeraCash youth accounts make it possible to pay for expenses using the VeraCash and build up savings in precious metals. Naturally, some transactions will have limits: VRC cannot be transferred between accounts, and payments by card will be capped at VRC 140 per week. In addition, the card won’t work in certain places, like bars and tobacconists, or on gambling, dating or betting websites.
Why should you open a VeraCash account for your child? ?
Because it isn’t always easy to manage pocket money, VeraCash gives you a better way to keep it under control. Just imagine, your kids go to the cinema after school and need €7 right away to buy a ticket. A free, instant transfer of VRC 7 to their VeraCash account, and they’re good to go! No wait, no fees. In addition, your child will have their own IBAN, allowing you to make one-off or recurring transfers to their account… once again, free of charge! ?
Not to mention the fact that an account backed by precious metals is a truly empowering experience which makes sense of asset management, even for young children. It encourages them to familiarize themselves with gold and silver and to gain a better understanding of their capital.
But also… ?
Aside from announcing the launch of youth accounts, the VeraCash AfterWork event also reviewed the past decade since the financial crisis, as well as the 2018 year now coming to a close – a thrilling year indeed at VeraCash! From AuCOFFRE . VeraCash transfers to ICO projects, our team decided to be transparent and to explain all these changes, plus our new products and services.
In addition, Economics Professor Dany Lang of Paris University 13 joined us to talk about the lessons learned from the Stock Market Crash of 1929, from a financial, banking and monetary perspective.