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  • Writer's pictureDonnelle Brooks

Zaap: Pocket Money Card to Nurture Smart Financial Habits in Children

Updated: Dec 5, 2023

In today's digital world, teaching children about money management and financial responsibility is crucial for their future success. As cashless transactions become more prevalent, parents seek innovative tools to impart valuable financial skills to their children. Enter Zaap, a cutting-edge app designed to help parents foster smart money habits in their kids. In this article, we'll explore why parents are increasingly turning to Zaap to empower their children with practical financial knowledge.



What is Zaap?

Zaap is not just another financial app; it's a comprehensive platform designed to educate children about money in a fun and interactive way. From earning pocket money to setting savings goals and tracking spending, Zaap offers a range of features that mirror real-life financial scenarios. By providing a hands-on experience, Zaap equips children with the tools they need to make informed financial decisions.


How Does Zaap Work?

Parents can set up individual accounts for each child and allocate funds through Zaap. This controlled environment allows children to experience the responsibility of managing money without the risks associated with physical cash. Parents can oversee transactions and set spending limits, ensuring that their children are learning financial responsibility in a safe space.



With Zaap, children can view their balances, track transactions, and analyze their spending habits in real-time. This feature not only encourages financial accountability but also fosters a sense of independence and ownership over their money. By providing instant insights into their financial activities, Zaap helps kids develop a deeper understanding of their spending patterns.


Zaap incorporates gamification elements to make financial learning fun and engaging. Through interactive challenges, quizzes, and rewards, children can enhance their financial literacy in an enjoyable manner. This gamified approach keeps kids motivated to continue learning and mastering smart money habits.


Is Zaap a Pocket Money card?

Yes, Zaap is a modern, digital way of providing pocket money to children. It can also be used to provide money for an emergency or for lunches.


Is Zaap for Saving Money?

The app allows children to set savings goals, whether it's for a new toy, a special outing, or a long-term aspiration. By working towards these goals, children learn the value of patience, discipline, and delayed gratification. Achieving their savings milestones provides a sense of accomplishment, boosting their confidence in managing money effectively.



Why is Zaap a good choice?

Zaap recognizes the importance of parental involvement in financial education. Parents can actively participate in their children's financial journey, providing guidance, advice, and encouragement along the way. By collaborating with their kids on financial matters, parents can nurture a strong foundation for responsible money management.


Zaap integrates educational content to teach children essential financial concepts, such as budgeting, saving, and distinguishing between needs and wants. The app goes beyond simple transactions and instills core financial principles that children can apply throughout their lives.


How Much Does Zaap Cost?

The minimum cost to set up Zaap for one child is $9.95 for a card and $2 per month, plus 1.5% of whatever money you put on the card. So for $20 per month that adds up to 30 cents.


ZAAP Setup Costs

Payable upon purchasing, replacing if lost or stolen, and renewal upon expiry (every 3 years).

  • Generic card fee: $9.95

  • Personalized card fee: $20.00

  • ZAAP Wearable fee: $20.00


ZAAPed Bundles

  • Generic card and wearable: $29.50

  • Personalized card and wearable: $40.00

(you'll notice these bundles are not discounted, so what's the point?)


Zaap Fees

  • Monthly account fee (per child account): $2.00

  • Reload fee on debit or credit card transfers to your Parent Wallet: 1.5% of load value

  • Card or account closure: $10.00

  • Monthly inactivity fee (only if your account is not used for 90 consecutive days): $2.00

  • Foreign exchange fee (only if your payment device is used for purchases in any currency other than Australian dollars or purchases with any merchant located outside Australia): 3% of the Australian dollar amount of the transaction.



Zaap vs Spriggy

Zaap and Spriggy are both financial platforms designed to help individuals manage their money, particularly for children or teenagers. However, they have distinct features and approaches. Here's a comparison of Zaap vs. Spriggy:


1.Target Audience

- Zaap: Zaap caters to a broader audience, including both adults and teenagers. It offers a payment device and app for parents to monitor and control their children's spending while teaching financial responsibility.

- Spriggy: Spriggy is primarily focused on helping parents teach their children about money management. It offers a prepaid debit card for kids with parental oversight.


2. Account Type

- Zaap: Zaap provides a single account with parental controls, allowing parents to allocate funds, set spending limits, and monitor transactions for their children.

- Spriggy: Spriggy offers separate accounts for parents and children. Parents can transfer money to their child's card and set up savings goals.


3. Fees

- Zaap: Zaap charges fees for its payment devices (generic or personalized cards and wearables) and has additional charges for services like account closure, inactivity, and foreign exchange.

- Spriggy: Spriggy follows a subscription-based model, where parents pay a monthly fee for each child's card. There are no additional charges for account closure or inactivity.


4. Features

- Zaap: Zaap focuses on providing a convenient payment device and app that allows parents to supervise their children's spending habits. It also offers educational resources for financial literacy.

- Spriggy: Spriggy emphasizes teaching financial literacy to children through practical experience. It includes features like setting savings goals, allocating pocket money, and tracking expenses.



5. Accessibility

- Zaap: Zaap's payment devices are physical cards or wearables that can be used for in-store and online purchases, offering a tangible way for children to learn about spending.

- Spriggy: Spriggy offers a prepaid debit card that can be used for online and in-store purchases, helping children get accustomed to electronic transactions.


6. Customization

- Zaap: Zaap offers personalized cards and wearables, allowing children to have a unique payment experience.

- Spriggy: While Spriggy cards can be personalized with the child's name, the focus is more on financial education than customization.


In summary, Zaap and Spriggy cater to slightly different aspects of children's financial education. Zaap offers a broader range of payment devices and focuses on parental control, while Spriggy concentrates on teaching children about responsible money management through practical experience. The choice between the two depends on your specific needs and preferences for your child's financial education and spending habits.


What is the main difference between Spriggy and Zaap?

The main difference between Spriggy and Zaap is the price. Zaap is cheaper but features a lot of the same tools.


Is Zaap the best pocket money card?

Zaap provides children with convenient access to funds for emergencies and pocket money, offering an effective means to foster responsibility. Parents can find reassurance in knowing that their child will have financial support when needed. Compared to Spriggy, Zaap stands out as a more cost-effective option, making it an attractive choice for families seeking a reliable and affordable solution for instilling financial responsibility in their children.


Zaap review: The Bottom Line

In an increasingly cashless and digital age, financial literacy is a critical life skill that children need to thrive in the future. Zaap stands out as a powerful tool for parents seeking to nurture smart financial habits in their children. Through its comprehensive platform, interactive learning, and parental involvement features, Zaap empowers kids to develop financial responsibility, independence, and a solid understanding of money management. As parents embrace innovative solutions for raising financially savvy children, Zaap shines as a valuable ally in shaping a brighter financial future for the next generation.

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