Parents' Guide to bankaroo

Website http://www.bankaroo.com
bankaroo Poster Image

Common Sense Media Review

Polly Conway By Polly Conway , based on child development research. How do we rate?

age 7+

Money management made easy with cute budgeting tool.

Parents Need to Know

Why Age 7+?

Any Positive Content?

Parent and Kid Reviews

See all
age 7+

Based on 1 parent review

 

 

See all 1 parent review
 

 

Privacy Rating Warning

  • Personal information is not sold or rented to third parties.
  • Personal information is shared for third-party marketing.
  • Unclear whether this product displays personalised advertising.
  • Data are collected by third-parties for their own purposes.
  • User's information is used to track and target advertisements on other third-party websites or services.
  • Data profiles are created and used for personalised advertisements.
Learn more about our privacy ratings

What's It About?

BANKAROO is a website that allows kids to manage their money online. Parents sign up to create an account; they'll get an email registration link to confirm and then can add accounts for each kid. Kids choose a username, a password, and an avatar as well as currency (you can pick a real currency, such as dollars or euros, or a heart, star, or point system). Fill in the initial balance, then choose whether a negative balance is an option or whether a parent can add funds into the account.

Kids then can begin using their account, adding or subtracting funds, or creating savings goals. They'll add a goal by clicking on the "Goals" button and then filling in what the item they'd like to save for is, how much it costs, and how much they'd like to put toward that goal weekly or monthly. Funds then are allocated toward each goal and will be subtracted automatically. When kids do things such as achieve goals, they'll get a cute kangaroo-themed digital badge for their profile. There's also a blog for parents that tackles subjects such as allowance, budgeting, and giving to charity. The site is currently available in six languages with more being added.

Is It Any Good?

Our review:
Parents say ( 1 ):
Kids say : Not yet rated

As far as money-management websites go, bankaroo is pretty charming. The design is inviting, and simple, encouraging language makes the prospect of maintaining a bank account less intimidating for kids. However, there's no real instruction to be found; an About page only introduces you to the admittedly awesome creators of the site, an 11-year-old girl named Danielle and her entrepreneur dad Etay. There is a forum, but it doesn't contain a FAQ, only a few unanswered questions from users. However, the interface is so easy to use that you shouldn't have too much trouble after clicking around a bit. Bankaroo is a beautifully designed site that can really be fun for both kids and parents to use, but a little more guidance will help everyone get their money matters sorted.

Talk to Your Kids About ...

  • Families can talk about different ways to manage money. Why do some kids get an allowance while others get money for doing chores and other tasks?

  • Talk to your kids about the importance of saving money (bankaroo's blog has lots of great ideas on getting these conversations started).

Website Details

Did we miss something on diversity?

Research shows a connection between kids' healthy self-esteem and positive portrayals in media. That's why we've added a new "Diverse Representations" section to our reviews that will be rolling out on an ongoing basis. You can help us help kids by

bankaroo Poster Image

You May Also Like...

See all

Money Apps and Websites

See all recommended website lists

Common Sense Media's unbiased ratings are created by expert reviewers and aren't influenced by the product's creators or by any of our funders, affiliates, or partners.

See how we rate