A Spriggy Family membership is made up of a:
A Spriggy Card (per child);
Parent Wallet; and
Savings and Goals (combined for all children).
There are a few limits to be aware of with Spriggy, let’s jump into those.
Spriggy Card limit
The maximum balance of a Spriggy Card is $999, this is per card.
This one is pretty straightforward. The Spriggy Card balance is made up of funds deposited onto it from the Parent Wallet and any Spriggy.me contributions.
You will not be able to transfer to a Spriggy Card if the transfer will exceed the $999 Spriggy Card limit.
Spriggy Card Annual Load Limits
Each Spriggy Card also has an Annual Load Limit of $10,000. The annual load is assessed over a rolling 12 month period where total contributions to the card greater than 12 months old do not count towards your Annual Load Limit. Contributions to the Spriggy Card include: Pocket Money, Transfers and Spriggy.me contributions.
Parent Wallet limit
The Parent Wallet limit is also $999, this includes all funds available in the Parent Wallet and any funds in Savings and Goals for any of your children. The Parent Wallet limit is totally independent of any Spriggy Card balances.
The Parent Wallet is slightly more complicated, so let’s explain that with an example.
If you have $500 in your Parent Wallet, $200 across your child’s Savings plus $200 across your child’s Goals, you will have a total balance of $900 ($500 + $200 + $200) and will only be able to Top Up a further $99 before the balance limit is reached.
Parent Wallet Annual Load Limits
Your Parent Wallet also has an Annual Load Limit of $10,000. The annual load is assessed over a rolling 12 month period where Top Ups greater than 12 months old do not count towards your Annual Load Limit.
Loading to your Parent Wallet
You can load anywhere from $10 to $240 to your Parent Wallet per Top Up. Total Top Ups are also limited to $500 within a 24-hour period.
Savings and Goals
As mentioned above, Savings and Goals, for all your children combined are deemed as part of your Parent Wallet and therefore part of the $999 Parent Wallet limit.
What about Family Groups?
Each Additional Parent has a separate Parent Wallet, the same Parent Wallet limits apply to them. An Additional Parents Parent Wallet balance does not impact a Primary Parents Parent Wallet limits.
We are currently testing increased Parent Wallet limits of $4,999 with a limited number of families.
At the moment our testing program is full, however, if you would like to be part of future tests please reach out to our Member Help team.
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