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NatWest acquires pocket money app RoosterMoney

NatWest has acquired RoosterMoney, provider of a pocket money and financial education app for kids.

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NatWest acquires pocket money app RoosterMoney

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This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Launched in 2016, the RoosterMoney app loads pocket money onto a Visa debit card and allows parents to immediately freeze a card if it’s lost and block payments to specific merchants. It also gives parents and children real-time notifications on their spending and comes with a ‘contactless counter’ so children know how far away they are from having to next use their chip-and-pin.

Features on the app include reward charts and chore reminders to help encourage a savings habit from a young age

Simon Watson, Retail Banking at NatWest Group, says: “We want NatWest to be the easiest and most useful bank for families and young people. Rooster have built a brilliant app with best-in-market features that we’re excited to offer to NatWest customers..”

Rooster has over 130,000 UK users and will be launched to NatWest customers in the coming months.

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