PktMny is a new way for your 8-16 year olds to learn how to manage their money. With one online parent account you can automatically feed separate accounts for your children, each with their own personal pin number and PktMny Visa Pre-paid Card, direct from your PC.
Smart
Set up regular automatic pocket money transfers, assign tasks for your children to earn and make one-off top-up payments. You can choose how much, how regularly and from where the money can be spent: on the high street, online or from a cash machine.
Safe
With a PktMny Visa Pre-paid Card and protection from one of the world’s leading providers of online security, your money is safe, your children don’t have to carry cash and they can never go overdrawn.
Your Parent account
From your Parent Account, you can create Child Accounts for up to 4 children – each with their own secure username and password. You can also:
Set up a weekly pocket money payment, set tasks for each child to earn extra money and make one-off top ups as required;
Control how much, how often, and from where each child can spend: on the high street, online or from a cash machine; and
Invite friends and other family members to register, contribute and encourage each child to reach their planned saving goals.
Your Child’s account
With a PktMny Visa Pre-paid Card managed closely by you, and a simple, clear website packed with the help and advice they need, your child can take responsibility for their own saving and spending. They can:
Earn money through completing tasks or chores set by you;
Set their own saving goals and wish lists; and
Track their spending in real time.
Everything in fact, that will help them learn the valuable money skills they’ll need as they head towards adulthood.
Adding funds and paying pocket money
Funding the accounts is simple. You can:
Set up a regular standing order or make one-off payments direct from your bank, debit or credit card into your PktMny parent account; and
Set the day of the week that your child’s pocket money is paid into their account. Completed tasks are paid on your child’s pocket money day. You can also make additional one-off payments to your child at anytime.
The PktMny Visa Pre-paid Card
Your child’s card has all the security benefits you might expect from Visa and more. It is:
Managed entirely by you;
Personalised to your child;
Accessed via a secure pin number; and
Can quickly be blocked or unblocked by you or your child if it gets mislaid or lost.
Activating the card is easy. Once you login to your parent account, set the spending limits and decide where the card can be used, you’re on your way.
You can:
Control exactly how and where the card can be used - online, on the high street or at cash machines;
Set weekly or single transaction spending limits; and
Limit or disallow cash withdrawals (which are free in the UK).
With the PktMny Visa Pre-paid Card your child gains their financial independence and because they cannot go overdrawn, they avoid expensive mistakes.
No hidden fees
We like to keep the fees we charge low and entirely transparent. We simply charge £1.97 per child per month.
No joining fee.
Free cash withdrawals in the UK.
No charge to load funds into the parent account using a standing order or a bank transfer*.
And with neither parent nor child accounts able to go into the red, there are no overdraft fees either.
*Each time you add money to your parent account using a credit card we pass on a 1.21% fee. With a debit card this is 50p. These are banking fees we simply pass through. They will be shown clearly as part of your payment confirmation. To avoid these fees we recommend you set up your regular payments direct from your bank account by standing order or direct transfer.
PktMny is a great site. It is easy to navigate, simple to understand and very user friendly.
Jacinta age 39, Greater London, 3 children
I have found this an excellent way to talk to my 10 year old daughter about money, and I feel she is much more knowledgeable than when we started.
Nadine age 38, Yorkshire, 2 children
I'm more aware too. I set up a standing order as it will be easier for regular pocket money payments and it’s nice that I can reward extra for my children completing tasks.
Shahnaz age 35, London, 2 children
I think the cards are a great idea because by the time they are grown up, most financial transactions will be done in this way. If they understand how cards work now, they will be that much better-equipped as young adults.
Kate age 44, Yorkshire, 3 children
I find this a fabulous tool for creating a fair system for children and parents alike for giving out pocket money, keeping an eye on it and helping them to understand money
Jess age 46, Surrey, 4 children
PktMny has given us so many new opportunities of new discussions on money. My children are more sensible now they are taking a greater responsibility and role in their accounts.
