Frequently Asked Questions

General

What is MoneyMe?

MoneyMe is a parent-controlled virtual family ledger. Parents track virtual balances for their kids, set interest and allowance rules, and approve withdrawal requests. Kids see their money grow in a simple app without needing email or password accounts.

Is MoneyMe a real bank account?

No. MoneyMe is not a bank, payment app, wallet, brokerage, or real-money account. It only tracks virtual balances that parents control. Parents are responsible for any real money outside MoneyMe.

Does MoneyMe move real money?

No. MoneyMe never holds, moves, invests, or pays real money. When a kid requests a withdrawal, the parent decides whether to approve it and handles any real-world money separately.

Who is MoneyMe for?

MoneyMe is for parents who want to teach their kids about saving, interest, and spending decisions using a simple virtual ledger. It works best for kids ages 6-14 who are learning money basics.

Kid accounts

Do kids need an email address?

No. Kids access MoneyMe through QR code pairing. The parent generates a QR code in the parent app, and the kid scans it with the kid app. No kid email or password is required.

Can kids spend money without parent approval?

No. Kids can only request withdrawals. Every withdrawal request goes to the parent for approval, denial, or counter-offer. The parent always decides.

Can multiple kids use MoneyMe?

The free tier supports one active kid profile. The upcoming Family plan will support multiple active kids. Parents can add additional kid profiles, but only one can be fully active on the free tier.

Can a kid use multiple devices?

Yes. Parents can pair multiple devices to the same kid profile. Parents can also revoke device access at any time from the parent app.

Features

How does virtual interest work?

Parents set an annual percentage rate (APR) for each kid's virtual account. MoneyMe calculates and posts virtual interest automatically based on the parent's settings. This teaches kids how compound interest works without involving real money.

How does allowance work?

Parents configure a recurring allowance amount and schedule (weekly, biweekly, monthly). MoneyMe automatically adds the allowance to the kid's virtual balance on the scheduled days.

What are withdrawal requests?

When a kid wants to spend or withdraw money, they submit a request through the kid app. The parent receives a notification and can approve, deny, or counter the request. Approved requests are recorded in the ledger.

What are events?

Events are earning opportunities like chores or kid-proposed activities. Events will be available in the paid Family plan. Parents can create tasks, and kids can propose activities to earn virtual money.

Privacy and safety

Does MoneyMe collect kid data?

MoneyMe minimizes kid data collection. We only collect what is necessary for the product to work: kid profile information, transaction history, device pairing, and notifications. We do not use analytics SDKs or crash SDKs in the mobile apps.

Does MoneyMe show ads to kids?

No. MoneyMe does not show ads, social features, or child-targeted upsells. The kid app is focused solely on showing the kid's virtual balance and request status.

Can I delete my family's data?

Yes. Parents can request full data export and hard deletion through MoneyMe. See our Data Rights page for details.

Pricing

Is MoneyMe free?

Yes. MoneyMe has a free tier that includes everything a family needs for one kid: balance tracking, interest, allowance, withdrawal requests, and QR-paired kid access.

What does the paid plan include?

The Family plan (coming soon) will include multiple active kid profiles and earning events. See our Pricing page for details.

Technical

What devices does MoneyMe support?

The parent app will be available for iOS and Android. The kid app will also be available for iOS and Android. Both apps are coming soon.

Does MoneyMe work offline?

Both apps support offline read-only access. You can view balances and history without an internet connection, but actions like approving requests require connectivity.

How do I contact support?

Email support@moneyme.kids. Please do not include passwords, tokens, or unnecessary child personal information in support requests.