FAQs
The Mydoh Smart Cash Card is a reloadable digital and physical Visa prepaid card for kids, issued by Royal Bank of Canada. There is no interest rate charged on the card, or risk of debt. Kids can only spend the money that is available on their card’s balance. There are two versions:
- Digital card: Your kid’s digital card will be activated as soon as they sign up and log
into their Mydoh account. - Physical card: When you register your kids on the Mydoh app, you can order a Classic
Mydoh Smart Cash Card for them at no additional cost.
Mydoh has been designed for kids ages 6–17 years old. It allows youth to gain real-life financial experience by earning, spending, and saving real money.
The Mydoh Smart Cash Card is not the same as a debit card. It is a reloadable digital and physical Visa Prepaid Card for kids. However, like a debit card, kids can only spend the money available in their Mydoh wallet.
The Mydoh Smart Cash card is a Visa prepaid card, but it is not the same as a credit card. Unlike a credit card, there is no interest rate charged, or risk of debt for kids and teens.