What is a ‘Parent Account’ and why do I need one to order a Rooster Card?
The Parent Account is the wallet that funds your child’s Rooster account and card, and allows you to ring-fence your family’s pocket money. It comes with it’s own sort code and account number, so that family members can transfer money to the account. The Parent Account covers pocket money and real money boosts to your child with a Rooster Card. The Parent Account can be topped up by bank transfer or by using a debit card.
When your child gets a Rooster Card, their Rooster account moves from a virtual money tracker to a real money account. The funds for their real money account come from the Parent Account. So when you Boost them money or approve an extra earner chore, the money will be transferred from the Parent Account to your child’s account. If you make a Remove from their account, the money gets transferred back to your Parent Account.
Regular pocket money payments will also come from the Parent Account. To ensure pocket money delivery doesn’t fail because there isn’t enough in the Parent Account, you can set up a standing order from your Bank Account to your Parent Account. On your Parent Dashboard, tap on the + icon next to the Parent Account. If you click on ‘Bank Transfer’ we’ve calculated a recommended standing order amount based on your child’s pocket money as well as the odd Boost. Just enter the Sort Code and Account Number for your Parent Account when setting up your standing order and money will be transferred as you’ve instructed.
Note: Please bear in mind that your child is only starting to use real money when you activate the card in the app. Before the card is activated, the app is still acting as a virtual money tracker.