I remember very vividly opening my very first bank account. My dad took my brother and I to a bank in Claremont and we got our very first bank cards. It was very exciting, I had the Tasmanian Devil from Looney Toons on mine.
My dad showed us how to deposit money at the ATM and how to withdraw money and we both felt very grown up.
Well, banking has come a long way since then, with internet banking making our lives so much easier and all the major banks now have banking apps, which means you don't even have to get out of bed any more to do your banking! Guys, we have come a long way. It's fantastic.
Banking apps for kids
But there has been a big gap in the market for kids. Now a major South African bank has launched Kidz Banking, the very first banking app for kids aged 6 to 11. It's designed to engage and entertain children while enabling parents to explain concepts of money management such as earning, saving, and spending.
The Kidz Banking App works in conjunction with your Standard Bank App. As a parent you can:
- Create a mission for your child to earn pocket money.
- Approve payment requests when they complete their missions.
- Set time limits for missions.
- Help your child fulfil a wish.
- Approve or decline cash, airtime and data requests.
- You can change settings and manage your child’s profile from the Kidz Banking tile in your Standard Bank app.
The app is available for free on the Google Play Store and will be available on iPhone in October.
What do you think about banking apps for kids? Send us your thoughts to email@example.com.