Frequently Asked Questions

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.

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

Yes, but only user ID is stored to make it convenient for yo, and not your password, due to security reasons.

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.

Password should be at least 8 characters long, a mix of letters (upper and lower case), numbers and symbols.

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

No, both the apps can be installed on the same or on different devices.

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.

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.

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

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.

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.

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.

Yes, you as a guardian can anytime revoke the bank account permission by deleting the account from the Finny Family app.

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.

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.

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.

Yes, we or Finleap don’t store your password.

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.

Fintune treat both guardian and parent the same and hence a guardian is allowed to onboard the children’s bank account as well.

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.

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.

Giving pocket money to children as young as four or five years helps them start learning about the value of money and money management.

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.

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

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.

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 it is overdue, you will be informed to make a payment to your children via push message. And the overdue pocket money gets accumulated on the Payments screen.

No, not at the moment. As a parent, navigate to Payments in the Finny Family app and select the pending pocket money. Then you can pay either via cash or via bank transfer.

Payments menu available in the left hand navigation, allow you to make a payment specific to the children either by cash or through online transfer using Finleap.

Yes, you can see that under “Savings goals” menu.To see the details of any saving goal, click on it.

Sharing of a saving goal with the family and friends, enable them to contribute money to the goal via community website, and help your children fulfil it.

No, you as a parent/guardian don’t have this right, and only the children who owns the goal can share it. However if your child shares a saving goal with someone outside your community, you will receive a notification to approve whether the person can join your community and see the shared saving goals of your child.

No, you as a parent/guardian don’t have this right, and only the children who owns it can delete it.

Saving goals feature serves the below purposes:
– Allowing your children to make a list of items they want.
– Making them learn that every material thing has some worth in money
– Making them create goal with a due date so that they can set targets for them to achieve.
– Allocating money to each goal in the sequence of its priority of fulfilment
– Fulfilling the goal by their own saved money, giving them a sense of achievement and empowerment

Children can create a saving goal by initiating the process on clicking ‘+’ icon and then filling the required information.

Due date of a saving goal is a means to make the children learn setting targets and make them save for it.

Allocating money to a goal is an implicit way of prioritizing the goal and helps children learn setting priorities by trying to allocate money and fulfil the goals before a few other goals in the list.

When a goal is 100% allocated with money, means when the child has saved the full amount of the saving goal.

A children can allocate the money to the goal from two places in the Finny Kids App:

Goals overview screen:
1. Click allocate money icon on overview scree
2. Click on the battery/ goal icon
3. Long press on the “+” icon displayed over the battery

Goal details screen:
1. Click on “Allocate money” button
2. Enter the amount in the field
3. Click on “Done” button

A child can allocate as much money than it has available, until the amount of the goal is fully covered. If it already allocated money to other saving goals, this money is not available any more.

A child who is owner of the profile and the goal, can share it.

Goals can be shared with anyone who is in the contact list of the children’s phone, by any of the app the child is already using (e.g. E-Mail, Instagram, …).

Yes, because after the goal is shared, the person who got invited has to create an account in the Fintune community website and then wait for the approval from you as guardian / parent to join the community. This puts you in control of who can see the saving goals of your children.

The goal keeps being displayed on the goals overview screen in both, Finny Family and Finny Kids app. In addition, all community members with whom the goal is shared, can see it too.

Yes, a goal can be edited by the child who owns it, unless it is alreay achieved, then it cannot be edited any more.

Yes, a goal can be deleted from the details screen and is still available for 120 days at the end of the active goals list on overview screen for both parent and children.

As a parent, you can choose to use Finleap connect service to transfer money to the children’s account using our open banking partner Finleap connect.

Cash includes physical coins and bills and payments by cash means handing over physical money to the children.

No, as of now standing order payments to the children’s account are currently not supported. However a single transfer can be done conveniently directly in the app.

A ‘pending amount’ is basically an accumulation of all the due payments from you to your children, i.e. the pocket money that is set for the children in the Finny Family app.

You as a parent / guardian, can:
– add / invite family or community members
– manage/ add the bank account in the Fintune system
– link the child profile with added bank accounts
– read the Terms and Conditions
– read about general app infos You as a user of Finny Family app can edit your profile from settings.

This feature will be added in future release.

Yes, you can edit the profile of a child by navigating to settings. Additional, you can generate the magic code for the Finny Kids app from settings. This is needed in case your child gets a new device or reinstalls the Finny Kids App on the same device. Finally, you can allow the child to login usingn biometric methods like Fingerprint (Touch ID) or Face ID.