Help and Support
More information to help you get the most out of using Pennybox at home with your family.
There's no minimum age to use Pennybox.
For younger children, the app can be used on shared devices at home in a safe environment controlled by parents. If you believe your child is using Pennybox without your consent, you should delete the app from their devices and contact us at firstname.lastname@example.org.
We aim to empower kids to be money-savvy and learn about important personal financial concepts and good financial behaviour.
We do this by turning everyday activities into jobs or tasks, and teaching them how to manage their earnings in a fun, practical, and social way.
Through using the app, kids can find work to do around the house, pitch an action or task to their parents, and collect money when the task is completed. By practically going through this process on a daily basis, kids build good financial behaviour and learn real-life financial concepts of financial goal setting, budgeting, and earning money.
Nope. Not at all.
No bank details are required to use Pennybox. Pennybox has its own ‘My Wallet’ function for kids and parents to keep track of money being earned and spent.
$0. Absolutely nothing.
Pennybox is a free app for parents and kids, built by a group of people that wants to see a world where kids grow up super-skilled in their own personal finances.
A Pennybox Family is the linked account between parents and children, which enables money flows between the family.
This also allows parents to always be up-to-date with what their children are doing to earn money and how much they are earning.
Yes, you most certainly can.
Tasks can be set as a weekly repeating task, a single due date task, or what we call a standing task (that can be completed at any time).
When setting a repeating task, note that the amount of reward you set is for each instance of that task. So for example, if you set a reward of 2.00 for a task repeating Mon, Wed, and Fri - each day it's done - a reward of 2.00 is paid.
When a child completes a task, they earn money into their Pennybox Wallet. These wallet balances are a 'promise to pay', which means that parents continue to hold this money on behalf of their kids.
Children can ‘cash out’ after they have earned money and want to buy something.
Parents can also 'cash out' money by reducing their kids' balances if they've purchased something for their child.
The process of exchanging money, or buying something is done outside of the app. Our focus is on bringing accountability to financial transactions, not the actual payment of money or purchases.
Yes, you can still use Pennybox.
However, if you have other kids you want to add in a different family on Pennybox, you will need to register a new username and add other kids to this new family.
At this stage, Pennybox only supports one Pennybox family per username.
Allowing Pennybox to access your camera makes it easy and convenient for you to upload photos for things such as your user avatar, or task photos, straight from your phone or tablet device.