# bankaroo virtual bank for kids

> Virtual bank app for kids to manage money, set savings goals, and learn financial literacy. (iPhone/iPad app by Rodgers Finance LLC.)

- Source: https://appshunter.io/ios/app/bankaroo-virtual-bank-for-kids/id504924470 (this page in markdown: same URL + `.md`)
- Developer: [Rodgers Finance LLC](https://appshunter.io/developer/1736638933)
- Category: Education
- Price: $5.99 with in-app purchases
- Rating: 3.34/5 from 35 App Store ratings · 20 written reviews indexed
- Age rating: 4+
- Requires: iOS 10.0 · 45 MB
- Languages: English
- Released: 2012-02-29
- Data updated: 2026-06-10
- Monetization: free with in-app purchases
- User reviews in markdown: https://appshunter.io/ios/app/bankaroo-virtual-bank-for-kids/id504924470/reviews.md

## What is bankaroo virtual bank for kids?

Bankaroo is a virtual bank for kids, helping them manage their allowance, gifts, and chore money.

Created in 2011 by 11-year-old Dani, Bankaroo is helping hundreds of thousands of kids around the world manage their funds and become money-smart.

Using gamification and a simple, bright interface, Bankaroo helps parents teach their kids the value of money. Both parents and kids have access to the kids’ accounts, where kids can save up for goals and earn badges and parents can track where their kids’ money is invested. Kids can even earn interest on their savings!

Bankaroo Plus (available as a one-time in-app purchase for $4.99) adds features like checking, savings, and charity accounts and gives you the ability to transfer money between siblings and between accounts.

Key features for kids:
=================

-       Get an account where you can make sure your parents routinely give you allowance

-       Record every expense you made, and always know how much you have.

-       Save up for more expensive goals like games and toys. You’ll get a cool badge when you reach your goal!

-       Set recurring payments for things like online memberships.

 Key features for parents:
=================

-       Get your kids a recurring allowance or add funds to their account manually.

-       Your kids will know if they have enough in their account for the things they want to purchase.

-       Deduct their purchases from their account, or better yet – have them deduct their purchases so they can understand the implication of spending money.

-       You can use Bankaroo as a point system to encourage good behavior

Bankaroo is used by schools nationwide as part of their curriculum to educate kids about money and its value.

Some comments from our members:
==============================

“Excellent for piggy-banking. We and our kids love this app. It works well and gives the kids a sense of how to set goals and save. The developer is responsive and active, which is a huge plus.“
– The Huang Family

“Best kids bank out there & Super responsive help if you have a problem AWESOME customer service. Very responsive developer. BEST kids bank app by far (and I researched/tested this extensively, even paying for one lousy one).“
– Kathleen M.

## Key features

- Virtual bank account for kids
- Track allowance, gifts, and chore money
- Set savings goals with badges
- Record expenses and monitor spending
- Parents manage allowances and track funds
- Earn interest on savings

## Pricing and in-app purchases

Base price: $5.99.

**One-time purchases**

| Purchase | Price | Type |
| --- | --- | --- |
| Bankaroo Plus | $4.99 | one-time |


## Recent user reviews (10 of 20)

All indexed reviews: https://appshunter.io/ios/app/bankaroo-virtual-bank-for-kids/id504924470/reviews.md

### 1/5 — Poor starting impression

*2022-04-25*

I just downloaded and purchased this app and. Ow that I’m in I can’t even setup a kid. It keep crashing on me. My iPhone is updated and they claim it should work with my iOS. Pretty disappointed in a paid app.

### 2/5 — Missing Basic Functionality

*2021-08-25*

I’ve been using the app for a few years. It is shocking to me that I still cannot edit past transactions. If you do a typo or put in the wrong amount, that’s just too bad - it is there to stay. You cannot edit it (despite what the tutorial says). Such basic functionality should be a no-brainer and can be really frustrating.

### 5/5 — This is the best app for allowances and keeping track of spending

*2021-06-09*

My husband and I downloaded this app two years ago as a way to keep track of our kids’ allowances and spending in a way that wasn’t in our head. Now at time of purchase, we hand our kids our phone and they take off the amount they spent. They can check at any time how much money they have in their account, and it stops us from having to do the calculations for them. 

They can also see their spending and anytime they receive money from relatives, we can add it to their account (note-the all doesn’t connect to an actual bank, it’s totally virtual) and then we can actually pocket the cash. Paying for purchases with credit cards is no longer a hassle and the kids don’t have to remember to bring their money with them or pay us their actual money (including change) when we get home. It’s easy and convenient and really has taught the kids to save. Now anytime they want something, they just check their Bankaroo and see if they can afford it. No more whining for things!!

Furthermore, we can have automatic deposits and withdrawals each week for allowances and for regular reductions if they are paying for a large item over time.

### 3/5 — Good but has issues

*2021-04-25*

Could be a lot better if it would work. Half of the time when I open the app, all that comes up is a white screen with zero function. 

I’ve uninstalled/reinstalled, I’ve closed other apps, I’ve restarted…. Nothing works and it pretty frustrating. It does this on three different iPhones so it’s not just my device.

### 1/5 — School account just opens a browser

*2021-02-04*

We are trying to implement this for our ES Special Ed program. When I login to our school admin account it just opens safari browser. Why even have an app?

### 1/5 — Don’t pay for in app upgrade

*2021-02-03*

This was almost what we were looking for but needed the added saving and giving categories so paid the 4.99 for the upgraded version and NOTHING. It doesn’t upgrade or update but they got their money. Look at elsewhere and save your money.

### 1/5 — Poor customer service

*2021-01-22*

I love the idea of this app and site. In fact, it was everything I was looking for to use with a student in a school setting. I loved that staff can add money, they can set goals for the student to then choose where to save the money, and the “idea” that multiple staff could share a student or contribute. However, adding staff has proven very difficult. Even with making different accounts using different emails to test it has proven very difficult. Furthermore, if someone already has an existing account it appears you can’t add them to the student. When reaching out to customer service, I have received zero communication in response.  I really wanted this app/site to work, however It looks as if I will be moving on from Bankaroo.

### 4/5 — Dating a transaction

*2021-01-18*

Please add the feature to set the date of a transaction manually. This is important in the -funds case when one in entering a transaction a few days after the date when the transaction really occurred.  This is important in teaching kids to properly keep records. In case of my 10 year old she’s understandably not yet that on the ball about her bank account and she sometimes forgets to -funds on the day she spends her money. 
This will have implications for interest rate calculations but I’m sue you guys know exactly what to do. Thanks in advance!

### 5/5 — Love it

*2020-08-20*

Love it this app is the best for I allowance
And other

### 5/5 — So far great for lirning money

*2020-05-21*

Dogs

## Frequently asked questions about bankaroo virtual bank for kids

### How does bankaroo help kids learn about money?

Bankaroo uses gamification and a simple interface to help kids manage their allowance, gifts, and chore money. They can set savings goals, track expenses, and earn badges, fostering an understanding of the value of money.

### What features does bankaroo plus offer?

Bankaroo Plus, available for a one-time in-app purchase of $4.99, adds features like checking, savings, and charity accounts. It also allows money transfers between siblings and between different accounts.

### Can parents use bankaroo to manage their kids' money?

Yes, parents can use Bankaroo to set up recurring allowances or add funds manually. They can also track their kids' spending and have them deduct purchases to understand spending implications.

### Is bankaroo suitable for younger children?

Bankaroo is rated for ages 4 and up, making it suitable for young children to begin learning about money management with parental guidance. The bright interface and gamified elements are designed to be engaging for this age group.

### How often is bankaroo updated?

The latest version of Bankaroo is 7.2.3, and it was last updated on December 23, 2020. While the description doesn't specify update frequency, this indicates it has received updates in the past.

### What is the price of bankaroo?

The base Bankaroo app is free to download. Bankaroo Plus, which unlocks additional features, is available as a one-time in-app purchase for $4.99. The app is also listed with a price of $5.99, which may refer to the total cost including the in-app purchase or a different tier.

### What do users like about bankaroo?

User comments highlight that Bankaroo is excellent for piggy-banking, helps kids set goals and save, and that the developer is responsive and active. One user described it as the 'BEST kids bank app by far'.

### What platforms is bankaroo available on?

The provided data does not specify the exact platforms (e.g., iOS, Android) Bankaroo is available on, but it is described as a mobile application.

## Version history (last 1 release)

### 7.2.3 — 2020-12-23

Thank you for using bankaroo and helping us improve it!

A small update with some bug fixes and additional performance improvements.
Please contact us if you have any questions.

All the best!

## More apps by Rodgers Finance LLC

- [Bankaroo - for students](https://appshunter.io/ios/app/bankaroo-for-students/id1411997442)

All apps by Rodgers Finance LLC: https://appshunter.io/developer/1736638933

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*Data collected daily from the US App Store and indexed by [AppsHunter](https://appshunter.io/). User reviews are verbatim App Store reviews. Ratings, prices and chart positions refresh continuously; this snapshot is from 2026-06-10.*