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NatWest Rooster Money is a pocket money app and kids’ prepaid debit card – the Rooster Card. Designed to encourage good money habits from an early age, the app has a whole host of features and tools to help kids start their financial education.
There are 2 parts to Rooster Money – kids as young as 3 can start using the app, while the card itself is for those aged 6-17. There is a free plan if you only want to use the most basic app features – otherwise, you will pay a monthly or annual fee for the app and card. However, parents with an existing NatWest Group current account (which includes NatWest, Royal Bank of Scotland and Ulster Bank) can get the subscription for free.
The app’s features are varied – the chore chart shows kids how they can earn money in return for completing a task. The virtual money tracker makes it easy for kids to see the money they’ve earned and decide what to do with it – such as creating pots for spending, saving or giving. There’s also a star/reward chart to incentivise good habits.
When they reach age 6, kids can access their very own contactless debit card. The kids can decide where it’s used (online, in-store or at an ATM), while parents can set flexible spending limits and keep track of their kids’ usage with real-time notifications. This is all managed seamlessly through the app. Use Finder’s referral code ‘FINDER10’ to receive a £10 bonus.
Check out the main pros and cons of Rooster Money below to find out more.
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