PracticeBank vs BusyKid

Instead of giving kids cash for allowances or chores, set them up with PracticeBank so they can learn to be financially responsible. PracticeBank offers a simulated and safe environment for kids to use credit cards, savings and checking accounts without using real money. You, the parent, act as the banker. Practice Bank offers: - A simulated credit-card account that charges interest on late payments. - A simulated savings account that pays interest. - A simulated checking account. - The ability to send and receive simulated money from your child.

With BusyKid, kids and teens can now learn important money management skills through our easy-to-use app and BusyKid Visa® Prepaid Card. Due to the lack of financial education in most schools, our app has just about everything any child (5 to 17 years old) could ever need to help build the important money skills they’ll need to be successful adults. From the palm of their hands they can make real-life money decisions with parents serving as a safety net. Teens and kids can earn, save†, donate to charities† or spend on a personalized prepaid card. They can even use the funds to learn to invest* in real stocks. Hand-on experience is the best way for kids to learn, and with parents approving all money transactions leaving the app, it’s safer than giving them actual money. Chores and allowance tracker: Kids can earn an allowance by doing chores based on age and schedule. There are hundreds of chore/allowance combinations available but a parent can also add their own. In addition, the app’s chores and allowance tracker helps kids build important character traits like accountability, dependability, time management and teamwork. Enjoy our easy setup and real-time push notifications on chores and money transactions. Teach Easy Investing: Included in every BusyKid account! No upgrades needed! Teach your kids/teens how to invest from an early age and their potential can be limitless. Think college funds, first car, a home, and more. These valuable skills could help guide them through adulthood and create financial strength you can’t get with a bank alone. Learn to invest on our app and your assets are safe with our integrated investing platform, backed by Apex Clearing Corporation. Families can invest together, and within, just a few clicks make an investment for as little as $10 a transaction (and say goodbye to commissions). BusyPay†: Instead of wasting money on gift cards that could get lost, stolen or leave unused funds, use BusyPay and load money directly to a BusyKid child account. By sharing a BusyPay QR code friends and family can add money to an account for birthdays, holidays, or working for a neighbor. Even use this exclusive feature to BusyKid to send money to others using BusyKid. Being Charitable: BusyKid promotes a balance financial lifestyle and that includes being charitable. Donating is important for more reasons than the tax implications. Our app has more than 60 local and national charities built in to help make sharing easy. Safety First: We use the latest SSL encryption technology, and funds inside the app (child’s accounts) are FDIC Insured. The app and cards require individual PINs for use, and we strongly encourage all PINs be different. Parents receive alerts for any money transactions and card issues. Has all sensitive information stored by partners compliant with all Payment Card Industry Data Security Standards. The BusyKid Visa Prepaid Card is issued by Pathward®,N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. Card can be used everywhere Visa debit cards are accepted. All cardholder funds are insured by the FDIC in accordance with the FDIC’s applicable terms and conditions. Cliq® is the exclusive and authorized Servicer of the BusyKid VISA Prepaid Card. *BusyKid's provision of access to securities products and brokerage services are offered by Apex Clearing Corporation. Apex Clearing Corporation is an SEC registered broker dealer, a member of FINRA and SIPC, and is licensed in 53 states and territories. FINRA BrokerCheck reports for Apex Clearing Corporation are available at: http://www.finra.org/brokercheck. † - Optional feature is a BusyKid product.