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  • Writer's pictureDonnelle Brooks

Spriggy: Empowering Parents and Children with Smart Money Management

In the digital age, teaching children about money management has become more critical than ever. With cashless transactions and online spending becoming the norm, instilling good financial habits in children from a young age is essential. Enter Spriggy, a cutting-edge digital tool designed to help parents teach their children valuable money skills in a safe and controlled environment. In this article, we'll explore why parents are increasingly turning to Spriggy to empower their kids with smart money management.



What is Spriggy?

Spriggy acts as a virtual pocket money platform that empowers children to make financial decisions in a secure and controlled setting. It is designed to be used to for aged 6 to 17. Parents can set up individual accounts for each child and allocate funds through the app. This controlled environment allows kids to learn how to save, spend, and budget their money responsibly, with parents having complete oversight.


As digital natives, children are growing up with technology at their fingertips. Spriggy capitalizes on this trend by providing an intuitive and user-friendly app designed with young users in mind. Children can track their balances, see their transaction history, and set savings goals effortlessly. This hands-on approach fosters financial independence and accountability from a young age.


How Does Spriggy Work?

Spriggy provides valuable real-life financial simulations for kids. By allocating funds for savings, spending, and setting goals, children learn to manage money responsibly. They can experience the consequences of their financial choices in a controlled environment, preparing them for future financial decisions.


The app offers engaging features that make budgeting an enjoyable experience. Children can allocate their funds to customized "Money Jars," which act as virtual piggy banks for different purposes like saving for a specific item or donating to charity. This gamified approach makes budgeting fun and interactive, encouraging kids to develop healthy financial habits.



What bank is Spriggy with?

Spriggy is an independent entity and does not have direct ownership ties to any bank. Instead, it has established a 'third-party' partnership with a banking institution. The financial products offered by Spriggy, such as its parent wallet and prepaid Visa card, are issued through Indue. Indue is a Brisbane-based company with expertise in the payment industry and holds the status of an Authorised Deposit-taking Institution (ADI), which means it possesses the necessary licensing to function as a bank and accept deposits. Consequently, any funds held within a Spriggy account are effectively deposited into Indue.


How do I activate my Spriggy card?

To activate your Spriggy card, you typically need to follow these steps:


1. Install the Spriggy App: If you haven't already, download and install the Spriggy mobile app from your device's app store (iOS App Store or Google Play Store).


2. Log In or Create an Account: Open the app and log in using your Spriggy account credentials. If you don't have an account, you'll need to create one first.


3. Locate the Card Activation Section: Within the app, navigate to the section specifically designated for card activation. This may be under your account settings or a section related to your Spriggy card.


4. Enter Card Information: You will be prompted to enter the necessary card information. This usually includes the card number, expiration date, and CVV (Card Verification Value) found on the back of your Spriggy card.


5. Follow On-Screen Instructions: The app will guide you through the activation process step by step. Follow the on-screen instructions carefully.


6. Verify Your Identity: In some cases, you may need to verify your identity as an additional security measure. This could involve providing personal information or answering security questions.


7. Complete Activation: Once you've entered all the required information and successfully completed any necessary steps, your Spriggy card should be activated.


8. Confirmation: You will likely receive a confirmation message within the app or via email, confirming that your Spriggy card is now active and ready to use.


Remember that the specific steps and the layout of the app may vary slightly depending on updates and changes made by Spriggy. If you encounter any issues or have questions during the activation process, consider reaching out to Spriggy's customer support for assistance. They can provide guidance and support tailored to your situation.



Can you transfer money out of Spriggy?

No. Spriggy primarily offers a prepaid card and app-based financial management service designed for parents and their children. The primary purpose of Spriggy is to help parents teach their children about money and budgeting. Therefore, Spriggy does not support direct withdrawals of funds from the Spriggy account to an external bank account or allow users to transfer money out of the Spriggy account.


Can you use a Spriggy card online?

Yes, you can use a Spriggy card online. Spriggy is a financial platform designed primarily for children and teenagers to learn about money management, and it includes a prepaid debit card as part of its offering. This card can be used for online purchases, just like any other debit card. It allows young users to gain experience with digital transactions and responsible spending in the online world while being under the supervision and guidance of their parents or guardians. Spriggy's online functionality helps prepare young individuals for the digital financial landscape they will encounter as they grow older and gain more independence in managing their finances.

Can you withdraw cash from a Spriggy card?

No, you cannot withdraw cash from a Spriggy card. Spriggy is a financial platform primarily aimed at teaching children and teenagers responsible money management, and it includes a prepaid debit card as part of its services. However, this card is designed for digital transactions and purchases, such as online shopping or point-of-sale purchases in physical stores, and it does not support ATM cash withdrawals. Instead, the focus of Spriggy is on helping young individuals learn about budgeting, saving, and making responsible spending choices in a cashless society, under the supervision and guidance of their parents or guardians.



How to cancel Spriggy

To cancel Spriggy take the following steps:


  1. Accessing your Parent Login through the Spriggy app, navigate to the Settings menu.

  2. Select 'Help & Legal,' and then opt for 'Cancel Spriggy.'

  3. From there, you can choose either 'Cancel a child' or 'Cancel Spriggy.'

  4. Finally, proceed to 'Send Us a message.'

  5. Select 'Cancelling' from the options

Typically, the cancellation process is completed within a maximum of two business days, although in certain situations, it might require a slightly extended processing time.


Is there a cancellation fee for Spriggy?

No, if your balance is more than $10, Yes, if your balance is less than $10. When you initiate the cancellation process, if the total balance across your Parent Wallet and your children's Spriggy cards exceeds $10, there will be no cancellation fee, and this entire sum will be refunded to you. Conversely, if the balance is $10 or lower, that amount will be withheld as the cancellation fee.


Is Spriggy safe?

Spriggy is a financial service designed to help children and teenagers manage their money and learn financial responsibility with the guidance of their parents or guardians. Whether Spriggy is safe or not depends on various factors and how it is used.


Firstly, Spriggy places a strong emphasis on security. They use encryption to protect user data and employ industry-standard security practices to safeguard financial information. However, no online platform can guarantee absolute security, so users should exercise caution and ensure they follow best practices for online safety.



Secondly, Spriggy is designed to be a tool for responsible financial education. Parents have control over their child's account, and they can monitor transactions and set spending limits. This allows parents to guide their children's financial learning and ensure they make responsible choices.


Despite these safety measures, there is always some inherent risk when using any financial app or service. It's crucial for parents and guardians to actively supervise and educate their children about responsible money management, both in the physical world and online.


In summary, Spriggy can be considered safe when used in conjunction with responsible parenting and proper supervision. Parents and guardians should actively engage with their children in financial discussions and ensure that their children understand how to use Spriggy responsibly to achieve its intended educational goals.


What to do if you lose your Spriggy card

If you lose your Spriggy card, it's essential to take prompt action to secure your account and prevent unauthorized use.


First, log in to your Spriggy app or account online and report the card as lost or stolen. This will immediately block the card and prevent any further transactions.


Next, contact Spriggy's customer support to request a replacement card. They will guide you through the process and may issue you a new card for a fee.


In the meantime, it's a good idea to review your recent transactions for any unauthorized activity and notify Spriggy of any suspicious charges. Lastly, consider updating your account settings or card security features to enhance protection against future incidents of loss or theft. Remember, quick action is crucial to minimize any potential financial risks associated with a lost Spriggy card.



How much does Spriggy Cost?

Spriggy costs $60 per year for up to 4 children, plus an extra $10 for each child after that.


How much is a Spriggy card?

A Spriggy card is free for the first card, then $10 for each replacement card.


Spriggy Fees

Family Membership (up to 4 children)

$60/year


Fifth Child onwards

$10 per year per child


Prepaid card replacement fee

$10 per replacement card


Overseas currency conversion fee

3.5% per transaction


Cancellation fee

Up to $10


Is there a cheaper version of Spriggy?

There are many cheaper options than Spriggy, particularly if you only have one child. Kit by Commonwealth bank is only $30/year for one child, and Zaap can be cheaper, but their fee structure is not as clear cut as Spriggy.


Spriggy app: a Review

In an increasingly cashless world, teaching children about money has become more important than ever. Spriggy empowers parents to guide their children's financial journey by providing a safe and controlled environment for financial learning. With its user-friendly app, interactive features, and focus on financial literacy, Spriggy is a valuable tool for nurturing responsible money management skills from an early age. As parents seek innovative ways to raise financially savvy children, Spriggy stands out as a powerful ally in shaping a brighter financial future for the next generation.

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