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.
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:
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 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.
Is the pocket money automatically transferred?
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.
How can I pay pocket money to my child using Finny Family app?
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.
What is interest?
Interest is basically a guardian-paid small money to the child as an appreciation of their current savings for the set period
What is interest rate?
It is the percentage value of the kid’s saving which upon scheduling you as a guarding would pay to the kid
Who can set interest rate?
Guardians can set interest rate for child in Finny Family app.
What is interest rate in terms of Finny apps?
In terms of Finny apps, a guardian-paid credit interest is offered on a child’s saving through this feature. Once you set it up, Finny will automatically calculate and deliver the amounts for you each period.
What
In financial literacy for child, interest rate forms a pillar to learn about appreciating value of their savings.
What does “Week” or “Month” means?
It means you can set the period of interest rate to “month” or “week” and pay it after the set period
What is meant by a suggested chore?
A chore created by the children themselves and sent to you for acceptance is reflected as a suggested chore in Finny Family app for all the guardians for the acceptance/cancellation from any of the guardian.
How can I accept/cancel a suggested chore?
You as a parent/guardian, can accept/ cancel a chore suggested by the child by navigating to the chore details.
How can I access a suggested chore?
You as a parent/guardian, can access a suggested chore by either navigating to the chore details by tapping on the “Suggested chore’ entry displayed on the kid card on chores overview and then navigating to “Suggested chore” area under “To approve” tab or by clicking on the received push message.
How can I approve/reject a chore completed by the child?
You as a parent/guardian, can approve/ reject a chore completed by the child by navigating to the chore details or by clicking on “Approve” button displayed next to the chore in “To be approved” section.
What is possible with regards to chores in Finny Family app?
You as a parent/guardian of the child, can create a new or suggested chore, edit/delete it, can approve/reject the chore completed by child and also accept/deny the chore suggested by child.
What are the different statuses a chore can have?
We don’t display chore status anywhere in the details screen of the chore but one can find all the to be done chores under “Pending” tab, completed chores pending parent/guardian approval under “To Approve” tab in “To be approved” area, chores suggested by the child under “To Approve” tab in “Suggested chore” area and completed and approved chores under “Done” tab.
Is the deleted chore visible in the app?
No, the deleted chore is lost and is not visible in any of the list neither in the Finny Family nor in the Finny Kid’s app.
Is my edit in the chore visible to the child to whom it is assigned?
Whatever you edit gets saved once you save it, and is visible to both, the child it is assigned to and yourself/all the guardians in your family.
What is auto-approval?
“Auto-approve” is available only to a parent/guardian for chores with recurrence as “daily” or “weekly”.
What does 1,2,3 hrs mean for auto-approval?
It means when auto-approved is on then after how many hours of approval request for the completed chore sent to the parent, can the chore get auto-approved.
Can I clone a chore?
Yes, you can reassign a chore by choosing to create new chore from the latest completed chores or by reassigning a successfully approved chore.
What does picture proof mean?
When picture proof is enabled, a child will have to upload the pic of the completed task as a proof for the parent and only then it can be marked as “Done”.
What is possible with regards to chores in Finny Kid’s app?
A child can create a new chore and send it as a suggestion for the acceptance from the parent/guardian, edit/delete is not possible for any chore. Children can mark the chore as done after completion and resuggest a chore from the details of the successfully approved chore.
What are the different statuses a chore can have?
We don’t display chore status anywhere in the details screen of the chore, but one can find all the to be done chores under “To Do” tab, completed chores pending parent/guardian approval, and parent approved completed chores under “Done” tab.
Is the deleted chore visible in the app?
No, the deleted chore is lost and is not visible in any of the list neither in the Finny Family nor in the Finny Kid’s app
Can a child edit their suggested or parent/guardian assigned chore?
A child can neither edit nor delete a self-suggested or a parent/guardian assigned chore.
From where can a child mark the chore as complete?
Children can mark their chore complete by navigating to the details of the chore in the “To do” tab. If picture proof is enabled then it needs to be uploaded first, only then the button will allow to submit the chore.
Is the deleted chore visible in the app?
No, the deleted chore is lost and is not visible in any of the list neither in the Finny Family nor in the Finny Kid’s app.
How can a child re-suggest or clone a chore?
WA child can re-suggest a chore by choosing to create new chore from the latest completed chores or by clicking on “Redo” button displayed on the details of a successfully approved chore, displayed under “Done” tab.
How can I access a suggested chore?
“A child can access a suggested chore by navigating to the chore details of the chore displayed under “To Do” tab. Suggested and acceptance pending chores ae displayed with “Send reminder” button on details screen.
How can a child re-suggest or clone a chore?
A child can re-suggest a chore by choosing to create new chore from the latest completed chores or by clicking on “Redo” button displayed on the details of a successfully approved chore, displayed under “Done” tab.
From where can a child upload a picture proof in the chore?
A child can upload the pic in the chore by either clicking on the chore image displayed on details screen of that chore or by clicking on button “Upload a pic”.
Unlimited
You as a child are entitled to suggest any number of chores but only maximum 3 chores (with any recurrence) can be accepted/created by the parent in the freemium app and for more they need to upgrade it to the paid version.
Can I see the saving goals created by the children?
Yes, you can see that under “Savings goals” menu.To see the details of any saving goal, click on it.
What does 'sharing of a saving goal' mean?
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.
Can I share the saving goal?
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.
Can I delete a saving goal?
No, you as a parent/guardian don’t have this right, and only the children who owns it can delete it.
What is the purpose of creating a savings goal in the app?
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
– 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
How can a children create a saving goal?
Children can create a saving goal by initiating the process on clicking ‘+’ icon and then filling the required information.
What is the due date of the saving goal?
Due date of a saving goal is a means to make the children learn setting targets and make them save for it.
What does allocate money to a goal mean?
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 is the goal ready to get fulfilled?
When a goal is 100% allocated with money, means when the child has saved the full amount of the saving goal.
From where a children can allocate money to the 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
What is the limit of allocating money to a saving goal?
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.
Who can share the goal?
A child who is owner of the profile and the goal, can share it.
Who can the goal be shared with?
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, …).
Is goal sharing by children safe?
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.
What happens to a goal after it got shared?
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.
Can a goal be edited?
Yes, a goal can be edited by the child who owns it, unless it is alreay achieved, then it cannot be edited any more.
Can a goal be deleted?
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.
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.
What is a 'payment by online transfer'?
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.
What is a 'payment by cash'?
Cash includes physical coins and bills and payments by cash means handing over physical money to the children.
Is the payment transferred automatically?
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.
What does 'pending payment amount' mean?
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.
What is possible from Settings in 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 infosYou as a user of Finny Family app can edit your profile from settings.
– 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
Where can I edit my Profile??
Can I delete the children’s profile?
This feature will be added in future release.
Can I edit children’s profile?
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.
Where can I edit my Profile?
You as a user of Finny Family app can edit your profile from settings.
I am not able to redeem voucher in my iOS app.
iOS >=14.0 should have this feature
Why do I see a subscription screen?
If you are seeing a subscription plan screen then probably you have exhausted your free trial features and now need to subscribe for any of the plan to continue with the parenting experience.
Why does my child get a message to earn the “Finny Hero” badge?
If your child is seeing a pop up with this message then probably they have exhausted the free trial features and you need to subscribe for any of the Finny Hero subscription plan to continue with the parenting experience.
Which are the Finny Hero subscription plans?
“Monthly” and “Annual” are the two subscription plans available at the moment.
Is
Yes, 30 days free trial is applicable in both monthly and annual subscription plans if you are an existing user. In case not then 7 days free trial is available with annual subscription.
What does monthly subscription offer?
Monthly subscription plan gives you unlimited access to: Chores, saving goals, financial literacy, unlimited family access and most importantly paying using bank account.
What does yearly subscription offer?
Annual subscription plan gives you unlimited access to: Chores, saving goals, financial literacy, unlimited family access and most importantly paying using bank account, PLUS reducing the yearly expenditure per month
Topics
Finny Family
for parents
the key to financial parenting
Finny Kids
for children 7-12 years
Become a Financial Superhero