The Parent Wallet is a virtual Visa card that only allows transfers to and from a child's Card, Savings or Goals.
The Parent Wallet is where your funds arrive after you successfully Top Up from your Connected Account.
Money in your Parent Wallet is only visible to parents logged into the Spriggy Pocket Money app with their Parent Login. This means that a child logged into the Spriggy Pocket Money app with their Child Login cannot see nor access the Parent Wallet.
The benefits of Spriggy having a Parent Wallet:
You can give your child money right away!
Topping up money from a debit card into the Parent Wallet can take a few minutes and topping up from a bank account can take up to 2-3 business days to settle in your Parent Wallet depending on your financial institution.
Once funds are available in the Parent Wallet, transfers to your child's Spriggy Card, Savings, Goals will arrive within a few minutes, making it perfect for emergencies.
The Parent Wallet gives parents control over where the money is distributed!
With the ability to send money to a child's Spriggy Card, Savings and Goals, this feature allows you to encourage smart saving decisions for your child by having them weigh up whether they want the money now or for the future.
You can set up automatic transfers from the Parent Wallet to your child's Spriggy Card or Savings!
So many parents simply forget to transfer or give money to their children. This can make for some pretty sticky situations. With automatic transfers from the Parent Wallet to the child's Spriggy Card or Savings, this problem is eliminated.
Parents can rest easy knowing the kids have their weekly or fortnightly allowance.