Starling, the leading digital bank, is supercharging its Kite debit card for children by giving users aged 6 to 16 access to the Starling app. Once permission is granted by a parent or guardian, children can check their balance, see transactions and receive real-time spending notifications on a smartphone or tablet.
The newly launched app access will give parents the ability to manage their family finances in one place, gaining greater insight into their children’s spending habits.
The space for Kite within the Starling app provides parents with a simple, secure, cash-free tool for managing pocket money without the need to set up a full bank account for their child.
Kite is linked to a parent or guardian’s personal or joint account and allows customers to manage child, personal and business banking from one place. The Kite debit card can be ordered in the Starling app and arrives with the child’s name printed on it, giving them a sense of ownership and responsibility.
Once Kite is activated, parents can have full line of sight over their child's digital finances. They can check, control and limit specific functions, such as online payments and ATM withdrawals and set a daily transaction limit which can be adjusted as the child's financial needs and awareness grows. For security and peace of mind, if a card is lost or stolen, it can be locked from the parent or guardian’s Starling Bank app.
Helen Bierton, Chief Banking Officer at Starling Bank, said: “Research shows that only 37%* of children keep their money in a bank account. From providing real-time notifications to seeing their transactions listed in the app, Kite is the perfect way for both parents and children to educate themselves about digital banking together.”
Starling Kite is available for £2 per card, per month. Existing users will be able to help their children set up their own app access from launch.
Virtual velocity: how Baymarkets powered ahead despite a pandemic
By Tore Klevenberg, Partner & CEO, Baymarkets
Creditinfo launches SME blended scorecard in Kenya
By Georgia Richardson
Designing for women: the story of the female finance research series
By Dr. Anette Broløs and Dr. Erin B. Taylor, Research Leads, EWPN