Modak: Kids & Teens Banking

Modak is a user-friendly app designed specifically for families, providing parents with the tools they need to confidently guide their child's financial journey. With Modak, kids can learn valuable skills such as spending, saving, and earning money while having fun. This app promotes independence and fosters good financial habits from a young age, setting children up for a successful financial future. By joining Modak, parents can help their kids take control of their finances and become independent in managing their money.

One of the key features of Modak is the Modak Visa® debit card, which can be used anywhere Visa® is accepted. The card seamlessly integrates with Apple and Google Pay, and users can choose from a variety of card designs. The best part? There are no monthly fees, minimum deposits, or hidden fees associated with the card.

Modak also offers allowance and chore tracking, making it easy for parents to manage their child's finances within the app. Parents can set allowance amounts, schedule payment dates, and assign chores, all while tracking transactions in real-time and having the ability to lock or unlock the card instantly.

In addition to financial management, Modak also promotes healthy habits and active living through daily and weekly challenges. By completing these challenges, kids can earn reward points, which can be redeemed for cash on their Modak debit card. The app also allows for personalized savings goals, where both kids and parents can contribute to achieving them.

Modak also offers convenient money management options, allowing users to link their bank account, credit or debit card to their Modak account. This makes it easy to send money to the app and manage multiple kids' accounts. And with 24/7 customer support available in both English and Spanish, users can access real-time assistance whenever they need it.

It's important to note that Modak is a financial technology company and not a FDIC insured financial institution. However, the deposit account and Modak Visa® debit card are issued by Legend Bank, N.A., and are FDIC-insured. While there may be fees for expedited or premium services, users can refer to the Cardholder agreement for more information. With encrypted data and biometric security measures in place, users can rest assured that their transactions on Modak are secure.