Natwest Rooster Money Referral Code: 72G9B-5

Sign up to Natwest Rooster money using the Rooster Money referral code: 72G9B-5 or click the link above and you will receive £10 when you complete your trial and make a subscription payment. Note your subscription payment is FREE if you are a Natwest, RBS Or Ulster Bank.

Rooster Money Review – Best Pocket Money App for Kids?

As parents, we all want to teach our children the importance of financial literacy. But in a world where spending money is just a tap on the phone away, it can be challenging to instil good money habits in our little ones. That’s where the Natwest Rooster Money app comes in.

Rooster Money is an easy-to-use pocket money app from NatWest that helps parents teach their kids about money in a fun and engaging way. With Rooster Money, kids can earn, save, spend, and even invest their pocket money, all while learning valuable financial lessons along the way.

Rooster Money Review – Features, Pros and Cons, and Pricing Plans

In our Rooster Money review below, we will explain everything you need to know about this money app. From the available features to how much the Rooster app costs, we’ll give all the essential info you need to decide if this is the right money management app for your family. Remember if you do decide to sign up for an account – you should use our Rooster Money referral code: 66HGH-J to get £10 free cash added to your account.

What is the Rooster Money App?

The Rooster Money app transforms pocket money into an engaging and educational experience for kids, helping adults teach financial literacy to their children in a simple and rewarding way. The app allows parents to manage their kids’ finances effectively while seamlessly introducing them to the world of money management with a child-friendly approach.

Rooster Money helps to teach children earning, saving, spending, and investing concepts – providing a well-rounded financial education experience for kids. While using the app, your children will learn the value of work through completing chores, achieving academic goals, or contributing to household tasks and earning their pocket money in the process!

What Ages Will Benefit from the NatWest Rooster App?

This pocket money app has been designed for children aged 3-17 with age-appropriate features and processes to help your children learn financial literacy in an age-appropriate and engaging way.

Key Features of the NatWest Rooster Money App

This finance app features a host of excellent features to help parents teach their children financial literacy and the value of money through both earning and saving.

• Set up chores: You can create chore tasks for your children and assign a value to each chore. Kids can use the app to view their chores and earn money for completing them.
• Automatic allowance payments: Set up recurring allowance payments to your child’s account on a designated day or manage their allowance with instant boosts.
• Set savings goals: Kids can set saving goals, such as saving for a new toy, a trip, or a rainy day emergency fund. They can then use the app to see their savings progress visually, making it easy to track their progress towards their goals.
• Make purchases with pocket money: Kids can use their saved pocket money to make purchases online and in-store.
• Set spending limits: You can also set spending limits for your child’s pocket money to make sure they don’t blow their hard-earned cash all at once.
• Block certain purchases: Parents can also block certain purchases from being made with their child’s pocket money to keep a rein on where their cash is being spent.
• Invest in fractional shares: Kids can invest in fractional shares of stocks and ETFs, learning about investing and compound interest early.
• Monitor spending habits: You can monitor your child’s spending habits and see where their money is being spent.
• Receive notifications: Parents can receive notifications when their child makes a purchase or reaches a savings goal.
• Earn badges and rewards: Kids can earn badges and rewards for completing tasks and reaching goals.

How Does Rooster Money Work?

To begin using the Rooster Money app, you need to create an account on their website and also download the app onto your Apple or Android smartphone. Then, follow the quick and easy signup process, providing your name, email address, and password. Once you’ve finalised your registration, you will choose a currency for your budget, opting for Pounds, Euros, Dollars, or Rooster Money currency, Stars.

Step 1: Setting Up Your Rooster Money Account

You begin the process by creating an account on Rooster Money, providing your details, and selecting the right plan for your needs and budget. Remember to use Natwest Rooster Money referral code: 66HGH-J or click the link here to get £10 free cash added to your account.

Step 2: Set Up Chores and Rewards

Once you have downloaded the app, you can set up personalised chore tasks and assign a reward for each one. Kids can then view their assigned chores and earn pocket money upon completion, fostering a sense of accomplishment and the value of money.

Step 3: Create Automatic Allowance Transfers

You can also use the app to set up recurring transfers to ensure your children have a steady stream of pocket money, taking away the time and effort of arranging individual payments each week or month.

Step 4: Monitor Spending Habits

The Rooster Money app will give you comprehensive insights into your children’s spending, allowing you to monitor their expenses and identify areas that need to be improved.

Step 5: Establish Spending Limits

Use the app to set realistic spending limits to guide your child’s financial decisions and ensure that they don’t waste money on impulsive or unwise purchases.

Step 6: Block Unnecessary Purchases

You can also use the service to protect your child from impulsive purchases by blocking specific categories or merchants.

Step 7: Gamified Learning for Engaged Kids

Rooster Money helps to teach financial literacy to kids with a gamified approach. Your children can earn badges, compete with friends, and set saving goals, making the learning process fun and motivating.

Step 8: Investing Opportunities for Early Learners

When your children are ready, you can start to use the Rooster Money’s fractional share investing feature. Kids can invest in a diversified portfolio of stocks and ETFs, gaining exposure to the stock market and learning about long-term financial planning and compound saving.

Step 9: Physical Debit Card for Practical Transactions

With the paid subscription option, you will receive a physical debit card that allows your children to make purchases online and in-store. This fosters hands-on experience with managing their finances in real-world scenarios.

Pros and Cons of this UK Pocket Money App

The NatWest Rooster Money App can be used as an easy and intuitive way to educate your children about money, saving and investing. However, as with any finance app, there are both strengths and weaknesses to consider. Here is a quick rundown of the main pros and cons of the Rooster app.

Pros of Rooster Money

• Fun, Gamified learning: Rooster Money uses a gamified approach to teach children about money management, making learning fun and engaging.
• Hands-on money experience: Rooster Money gives younger children a hands-on experience with money management by allowing them to earn, save, and spend their own virtual currency, Rooster Money Stars.
• Parental control: Parents can set spending limits, block certain purchases, and monitor their child’s spending habits.
• Online Security: Rooster Money uses industry-leading encryption to protect children’s financial information.
• Fractional share investing: Premium subscribers can invest in fractional shares of stocks and ETFs using their Rooster Money Stars to help children learn about investing.
• Physical Rooster Money Debit Card: Premium subscribers can access a physical debit card that allows their child to make purchases online and in-store and become comfortable with debit card use.
• Freemium model: The basic level of the app is free, with the premium app features available for a subscription fee. So, you can get started with this option to make sure the app is the best fit for you and your children.
• FREE £10 Added To Your Account: Sign up with Natwest Rooster Money referral code: 72G9B-5 or click here and get £10 added to your account

Cons of Rooster Money

• You will need to pay for some features: Some app features, such as investing and debit cards, are only available for premium subscribers.
• Gamification can be too simple: The simple, gamified approach may not be enough to teach them all the skills they need to be financially literate.
• Not really effective with parental involvement: Rooster Money is most effective when parents engage in managing their child’s account. Monitor their spending and help them learn about money management.

Overall, Rooster Money is an excellent app for teaching children about money management. It is gamified, engaging, and has a number of features that can help your child learn about saving, spending, and investing. However, it is essential to note that consistent parental involvement is critical to making the most of Rooster Money’s educational and monitoring features.

Different Types of Rooster Money Accounts

Rooster Money offers two different account types to suit the needs of different families. There is a free basic plan and a paid card option, which is currently £1.99 per month. Here is a breakdown of what is available with each option.

Free Rooster Money Account

The Free virtual account is the basic level of Rooster Money. It includes the following features:

Star & Reward Chart:

• A visual representation of your child’s financial progress, showing how they are earning, saving, and spending their money.
• A gamified approach to financial education, motivating children to achieve their financial goals.
• Incentives for children to save, spend wisely, and complete chores.

Virtual Money Tracker:

• A real-time view of your child’s finances, showing their current balance and recent transactions.
• A tool allowing parents to monitor their child’s spending habits and provide guidance.
• A way for children to track their own finances and develop financial literacy.

Scheduled Allowance:

• Automatic delivery of allowance at regular intervals, promoting budgeting and mindful spending.
• Customisable allowance amounts and frequencies to suit individual families and children.

Spend, Save, Give, & Goal Pots:

• Separate pots for spending, saving, giving, and reaching specific financial goals.
• Encouragement of saving for future purchases or larger goals.
• A way for children to learn about the importance of giving back to the community.

Educational Content & Resources:

• Engaging online lessons and activities on various financial topics, including budgeting, saving, investing, and charitable giving.
• Age-appropriate content to suit the learning level of your child.
• An online resource for parents to learn alongside their children and support their financial education.

Child Login:

• A secure login for children to access their own financial information and accounts.
• Independence and ownership of their finances, promoting monetary responsibility.

Rooster Money Subscription Account – £1.99 per month (remember this account is FREE if you already hold a Natwest, RBS or Ulster Bank account)

The Rooster Money Card subscription option includes all of the features detailed above, as well as the premium features below:

Chore Management System:

• Create and track chore-based tasks for children to complete.
• Assign specific values to chores to encourage earning and fiscal responsibility.
• Award stars for completed chores and track progress towards earning bonuses.
• Use reminders and notifications to ensure tasks are completed regularly.

Set Interest Rates:

• Incentivise saving by setting interest rates on children’s savings pots.
• Encourage children to save for long-term goals by demonstrating the power of compounding.
• Provide a practical introduction to the concept of interest rates and their role in finance.

Add Unlimited Guardians:

• Share monetary management responsibilities with extended family members or caregivers.
• Allow multiple guardians to track and manage their children’s finances.

Set Regular Outgoings:

• Set recurring payments for regular expenses, such as school fees or extracurricular activities.
• Automate financial planning and budgeting for families with predictable expenses.
• Ensure children understand the concept of regular outgoings and their impact on finances.

Use Rooster with ‘Real Money’:

• Connect bank accounts to enable seamless money transfers and allowance payments.
• Give children access to ‘real money’ through their Rooster Money accounts.

Prepaid Visa Debit Card for Kids:

• A prepaid Visa debit card for children to use when spending their earned money.
• Manage spending limits and restrict purchases to authorised retailers.
• Provide children with hands-on experience using a debit card in real-world transactions.

Flexible Card Controls for Parents:

• Set daily, weekly, or monthly limits for children’s debit cards.
• Block specific retailers or categories of purchases.
• Disable card usage in certain locations, such as ATMs or online.
• Freeze or unfreeze the card remotely in case of loss or theft.

Account Number & Sort Code:

• Provide children with their own account number and sort code for added financial literacy.

Is Rooster Money Free for NatWest Customers?

If you are an existing NatWest Group customer, you are eligible for up to three Rooster cards for free. To qualify for a free plan, you must be an existing customer of NatWest Group (which includes National Westminster Bank plc, Royal Bank of Scotland plc, and Ulster Bank).

Additionally, you must be over 18 years of age, a resident of the UK, and registered for either mobile or online banking services with one of the NatWest Group banks. Your children must also be between the ages of 6 and 17 to qualify for the free plan.

Is the Rooster App Safe?

The NatWest Rooster Money app has several high-standard security features which make it safe for your children to use, including:

• Data encryption: Rooster Money encrypts all data at rest and in transit. This means that even if someone were to hack into the app’s servers, they would not be able to steal your children’s data.

• Two-factor authentication: Rooster Money offers two-factor authentication for all accounts. This means that users must enter a code from their phone as well as their password when logging in. This makes it much more difficult for someone to hack into an account.

• Regular security audits: Rooster Money also undergoes regular security audits to make sure that its systems are up-to-date and secure.

Conclusion: Rooster Money Review – Best Pocket Money App for Kids?

The Rooster Money app is a valuable tool for parents who want to help their children learn about money. The app’s gamified approach, user-friendly features, and focus on financial literacy make it an engaging and effective way to teach children about budgeting, saving, and investing.

With its comprehensive features and commitment to safety, the Rooster Money app is a reliable and trustworthy option for families looking to instil financial responsibility in their children. Don’t forget to use our Natwest Rooster Money referral code: 72G9B-5 or the following link to activate your bonus offer and receive £10 free added to your account