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