Young Money is a money and learning universe for children and young people between the ages of 7 and 17 and their parents. Young Money is a whitelabel solution that can be connected to all banking institutions and works with existing accounts and cards.
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Financial understanding requires training and our mission, together with financial institutions, is to provide children and young people with an app that reinforces healthy money habits.
With Young Money, the bank meets its young clients at eye level with age-differentiated language and features.
Good and healthy money habits do not come by themselves. With the Young Money app, the child gets training and insights that help them in their learning. At the same time, parents have the opportunity to use Young Money as a dialogue tool.
Studies from Finans Denmark, among others, show that young people are under pressure on the economy — it negatively affects their quality of life.
The financial institution can help to take social responsibility by offering Young Money to its customers while ensuring an early digital relationship with its future core customers.
In Young Money, clients of the banking institution can securely transfer and request money, while gaining insight and overview of finances, tasks, savings goals and learning about the importance of money.
If you cannot find an answer to your question in our list of frequently asked questions, you are always welcome to contact us directly here. Contact Us
As a parent, you must first log in with MiTid. Once inside the app, in settings, select your child and form a QR code for the child to scan. After that, your child can log in to his app.
Your child can always reset the app in his profile. After the child's app is reset, form a new QR code for the child, which the child will scan. After that, the child can create the same code again.
You can always reset your app in your settings. When you reset the app, log in with MiTid again. The child's app will still work even if you reset your app.
Lock the card as soon as possible by calling customer service at your bank. You can find your bank's contact information hereto. Outside bank business hours: Call the Nets at 44 89 29 29.
Yes, you can be both parents on the app. If you both have an online banking app and a power of attorney for the child's accounts, you each have access to keep track of your child's spending and savings through the app. However, only one of you can be responsible for onboarding the child in the app.
Once your child has saved up to a goal, the money should be transferred from the savings account to the child's card when the child is ready for his or her purchase. The child does this by pressing the “Transfer” button and selecting “Transfer money” or “Request money”. If the child is under the age of 13, you must approve the transfer and you will receive a request in your app.
You tap the Menu icon in the bottom menu and tap Gifts and follow the different steps. You can choose to send a digital monetary gift that the child receives immediately — or send the gift to print, where you will then receive a pdf with a QR code.
Your child can transfer money to you by changing the recipient and sender account in the function where they request money from you.
