Bankaroo is a virtual bank for kids, helping them manage their allowance, gifts, and chore money.
Created in 2011 by 11-year-old Dani, Bankaroo is helping hundreds of thousands of kids around the world manage their funds and become money-smart.
Using gamification and a simple, bright interface, Bankaroo helps parents teach their kids the value of money. Both parents and kids have access to the kids’ accounts, where kids can save up for goals and earn badges and parents can track where their kids’ money is invested. Kids can even earn interest on their savings!
Bankaroo Plus (available as a one-time in-app purchase for $4.99) adds features like checking, savings, and charity accounts and gives you the ability to transfer money between siblings and between accounts.
Key features for kids:
- Get an account where you can make sure your parents routinely give you allowance
- Record every expense you made, and always know how much you have.
- Save up for more expensive goals like games and toys. You’ll get a cool badge when you reach your goal!
- Set recurring payments for things like online memberships.
Key features for parents:
- Get your kids a recurring allowance or add funds to their account manually.
- Your kids will know if they have enough in their account for the things they want to purchase.
- Deduct their purchases from their account, or better yet – have them deduct their purchases so they can understand the implication of spending money.
- You can use Bankaroo as a point system to encourage good behavior
Bankaroo is used by schools nationwide as part of their curriculum to educate kids about money and its value.
Some comments from our members:
“Excellent for piggy-banking. We and our kids love this app. It works well and gives the kids a sense of how to set goals and save. The developer is responsive and active, which is a huge plus.“
– The Huang Family
“Best kids bank out there & Super responsive help if you have a problem AWESOME customer service. Very responsive developer. BEST kids bank app by far (and I researched/tested this extensively, even paying for one lousy one).“
– Kathleen M.
Thank you for being part of the bankaroo community!
We are excited to present the new edition of bankaroo - a year in the making!
This update is free from existing members!
- Updated website with tutorials, FAQ and much more
- Improved offline mode
- Customized kids account colors
- New and redesigned avatars and icons
- New badges and messages
- New and improved emails and notifications
- Improved experience for managing allowance, goals and more
- Interest for saved money toward goals and savings
- Many additional changes under the hood to enhance security and performance
We hope you would like it!
Thank you for being part of the bankaroo community,
Dani and Etay
Ratings and Reviews
Best Kids Money Management App!
I have been using bankaroo as a money management tool for my kids allowance and my kids savings for a while now, and I enjoy it thoroughly. My kids, 7 and 11, are learning how to plan a budget, save up for goals and manage their money. No more "mommy, buy me this - mommy buy me that". They understand what prices mean and check bankaroo to see if they have enough allowance or chore money to buy what they want to, and they prioritize and trade off if they need to. One of the more valuable features of bankaroo is the kids saving goals - if they want something that is too expensive, they can set aside allowance money or chore money periodically, until the ready their saving goal. What a marvel!
I’m ready to be a paying customer, but there are too many little bugs for me to trust that this app will work. There are UI elements that hide buttons which need to be pushed, trying to edit the pictures of kid accounts is broken, hasn’t been updated in a year despite claiming weekly updates in the description, etc. I get that it’s not worth updating an app that doesn’t generate revenue, but this app is supposed to keep track of important data. I want to trust it and be able to commit to using it, but I just can’t yet.
Great app for helping your kids learn about money
I've been using Bankaroo since its launch as a web app and I'm so excited to see it now is available on my iPhone. My 8 years old daughter totally loves it too and uses it often. Bankaroo helped us teach our kids that things cost money and that they should make smart choices an trade offs. This is a great app!
- BrightAct LLC
- 33.2 MB
- Requires iOS 9.0 or later. Compatible with iPhone, iPad, and iPod touch.
- Age Rating
- Rated 4+
- © BrightAct LLC
- In-App Purchases
- Bankaroo Plus $4.99
With Family Sharing set up, up to six family members can use this app.