RoosterMoney

Is RoosterMoney safe?

RoosterMoney is not a bank, so there is no Financial Services Compensation Scheme protection. However, it is licensed by the Financial Conduct Authority (FCA) to deal in electronic money and keeps all client money in a segregated account (where RoosterMoney itself can’t touch it).

Your child can only spend the money that is available on the card so there is no risk of them going overdrawn or getting into debt. You are also able to see every transaction they make directly on the app.

Is RoosterMoney free?

RoosterMoney's core features are free to use, however we have a number of additional building blocks to power up your family account.

How does Roostermoney work?

RoosterMoney offers a free app, available to children over age four, which enables you to set chores and give simple rewards. If you just get the app, you will not be opening an actual account, so any pocket money is still given in cash – but it’s an engaging way of showing your child the basics of earning and saving money.

There is also a prepaid card, for children aged six to 18, which comes with a parent account and app for you and a debit card for your child. You can set spending limits and decide whether your child can use the card to spend online, in shops, for cash withdrawals from ATMs, or all of these.

How much does RoosterMoney cost?

The Rooster Card subscription fee is £24.99 per year per card. This includes all of the PLUS features for the whole family too.

Using the card is free. There are no charges for making card payments or withdrawing cash from ATMs up to certain amount a month, and three per cent per transaction after that.

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