Can kids send money to their parents from Savings Goals?
Great question! Currently, when funds are being earned by kids, all earnings go to the child’s ‘Spend’ balance. Similarly, all transfers out of a child account must be done from their ‘Spend’.
If kids have money in their Savings Goals that they would like to send to their parents, they would first need to move the money from ‘Savings Goals’ to ‘Spend’. For instructions on how to move money to ‘Spend’ please see here. Once the funds are in their ‘Spend’, they can be moved back using the steps below:
Kids can easily send money back to their parent’s Wallet with these easy steps:
1. Login to the child account, and select the settings wheel located in the top right hand corner of the home screen
2. Select the ‘Send Money to Parent’ tile
3. Enter the amount you would like to send to your parent*.
4. Review the transfer details to confirm they are correct.
5. Select ‘Send Money to Parent’ to confirm the transfer.
6. Money Sent!
We understand that sending funds from a kids Savings Goals directly to the Parent Wallet would be beneficial, and this is something that is on our team’s radar! If you have any questions, please don’t hesitate to reach out to our support team through the in-app chat!
- Please note that your child’s ‘Savings Goals’ is not a Savings account and will not receive interest or any other earnings.