FamZoo Family Finance

FamZoo is an application that aims to help families develop good personal finance habits in a hassle-free manner. It offers a collection of prepaid cards that are linked together by an award-winning app filled with family finance features. These features are designed to reinforce good money habits and can be used by kids, teens, and parents. For families who are not ready for prepaid cards or live outside the U.S., FamZoo also offers IOU accounts to track money held elsewhere.

To get started with FamZoo, all you need to do is sign up for a free trial on their website using any device. The registration process is quick and easy, and there is no credit check required. Once registered, family members can access the app or use any browser to manage their finances anytime and anywhere.

FamZoo is suitable for all ages, from preschoolers to college students. It helps families avoid credit card debt, overdraft fees, and other hidden fees. The app also allows for instant money transfers between family members, making it useful in emergencies. It can be used for safe online and in-store purchases, managing allowances, tracking chores and odd jobs, and keeping everyone on budget.

One of the unique features of FamZoo is its ability to maintain parental control while empowering kids to learn about money management. It also allows for handling money requests, reimbursements, and IOUs between family members. The app is a great tool for teaching children about the power of compound interest, the dangers of debt, the rewards of hard work, and the importance of staying on budget. Families can also customize their virtual bank to reflect their own unique values.

FamZoo has received numerous awards and recognition, including the Finovate Best of Show Awards in 2011 and 2013 and the FinCon Judge's and People's Choice Awards in 2015. It has also been featured in various media outlets, such as The Wall Street Journal, The New York Times, and NPR. The app has also been mentioned in the New York Times bestselling book "The Opposite of Spoiled" by personal finance columnist Ron Lieber.

It is important to note that FamZoo cards are only available in the United States, but IOU accounts can be used anywhere. The app takes the security of its users' data seriously and ensures that sensitive information like SSNs and card account numbers are never stored on their servers. Instead, it is managed by their trusted card processing partner, TransCard, which is certified by MasterCard, PCI DSS, SSAE 16, and Regulation E.