Frequently Asked Questions

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All you need to know

Find answers to all the app related and money related queries in here.
Choose a topic from the list or click on any of the listed question.

Hint: You can find the FAQ’s also in the Finny Family app, with a full text search.

FAQs

Why do I need to create a kid's profile in Family app?
In order to take advantage and use the features, like pocket money, make a payment, financial literacy, savings goal and teach your kid and track the financial activities, you need a kid’s profile in Family app.
From where can I add the kids' profile?

Kids profile can be created either from the Home (Dashboard) page when no kid profile is created or from Settings Family page.

Is my iser ID and password stored in the Family app?
Yes, but only user ID is stored to make it convenient for yo, and not your password, due to security reasons.
Why am I asked to enter OTP again even when I am not a new user?

You are asked to enter OTP again for security reasons but only in case if:

  • Logging in the new browser
  • Using the device for the first time to login into your profile
  • App was reinstalled
  • App was upSchool yeard.
What makes my password a good one?
Password should be at least 8 characters long, a mix of letters (upper and lower case), numbers and symbols.
How does biometric authentification work?

You have an authority to authenticate the kid to use either of the biometric option, fingerprint/face recognition, as supported by the device.

Do the Finny Family app and Kids app have to be on the same device?
No, both the apps can be installed on the same or on different devices.
How can a kid get started in the app?

Kids can register their profile in the kid’s app by entering the magic code which is obtained after creating kids’ profile in the Family app on the success screen, and in an email sent to parent/guardian on registered email id.

What does each kid card represent?
Each kid card gives the summary of important information related to kid’s bank account, pocket money assigned by the parent, money saved for goal (till date and in this week) and the transactions-, deposit- and withdrawal, both in the bank account (if linked) and the cash money.
Is every piece of information clickable?

Yes, and leads to relevant pages, from which you can come back to the dashboard.

What is 'Link Account'?
Link account takes you to the Finleap account onboarding flow, where you can connect with the bank supporting PSD2 where you have your kid account and onboard the account into Fintune ecosystem.
What is Finleap bank account onboarding?
Fintune consumes Finleap’s account onboarding and payment services to make it easier for the guardians/parents to onboard the children’s bank account and link it with children’s profile, and thereafter track the bank activities from the Finny Family app.
Is children's bank account onboarding safe?
Yes, we don’t have access to your bank account credentials since Finleap is processing it and only uses it for the purpose of establishing the connection with your bank.
Can I revoke Fintune's permissions to the bank account?
Yes, you as a guardian can anytime revoke the bank account permission by deleting the account from the Finny Family app.
How can I connect the children's profile with the onboarded bank account?
By navigating to Settings / Children’s Bank Account / tap on the children’s profile you want to connect with the bank account and the select the bank account. Then follow the Finleap process.
How can I disconnect the children’s profile with the onboarded bank account?
By navigating to Settings / Children’s Bank Account / tap on the linked bank account and press on the delete icon to disconnect the bank account.
Do I need to register in Finleap?
No, you only need to select the bank in which you have your children’s account, and login to that bank using your credentials. Mandated by PSD2 regulations, we share the email adress that you provided to us at the time of registration so that Finleap connect can reach out to you in case of regulatory matters only.
Are my bank's login credentials safe?
Yes, we or Finleap don’t store your password.
Is there a validity period?
Depending upon the bank agreement to have PSD2 there might be, and we will keep you informed if you need to provide a consent once again.
Can I as a guardian onboard a children's bank account or do I need to have a parent role?
Fintune treat both guardian and parent the same and hence a guardian is allowed to onboard the children’s bank account as well.
Who is authorised to link the children's profile with the bank account?
You as a parent/guardian are authorised to link the children to the right bank account. Precondition is that you have onboarded the bank account and the bank is supported by Finleap connect.
Can I as a second parent see all the children profiles and their linked bank accounts?
Yes, all the parents/guardians in the family can view all the children profiles and their linkage with the bank account. But only the parent who onboarded the bank account can link or delink the childrens’ profile from the onboarded bank account.
Why should I give pocket money to my children?
Giving pocket money to children as young as four or five years helps them start learning about the value of money and money management.
When and how often should I give pocket money?
A study suggests weekly pocket money for childrens in the first four school years and monthly pocket money for school year 5 and above is ideal. Get children started with money as young as possible.
How much pocket money is appropriate?
Depending on how you feel comfortable from financial exposure point of view for your children, you can allocate the pocket money.
We suggest the following guideline:

School year 1: EUR 1 weekly
School year 2: EUR 2 weekly
School year 3: EUR 3 weekly
School year 4: EUR 4 weekly
School year 5/6: EUR 20-25 monthly
School year 7/8: EUR 25-40 monthly
School year 9/10: EUR 30-50 monthly
School year 11 : EUR 40-60 monthly

How can I add pocket money to children profile using Finny Family app?
In Finny Family app, create your children’s profile. In the Navigation, go to pocket money where you can set pocket money for each child with individual duration (weekly/monthly) and amount.
How can I track pocket money to children profile using Finny Family app?
Once the pocket is allocated to any children’s profile and set active, you see the relevant amount with duration on the dashboard, also once i