We all want our children to become money-savvy as young as possible. Financial education isn’t really taught in our schools and that responsibility lies with adults and parents. If you are looking for ways in which to safely teach your children about money, savings, earnings, and financial understanding, a business that you might come across is called FamZoo. Actual customers have shared their experiences and opinions of this company’s services and technology so that would-be shoppers will have more information. By reading those customer reviews on peer review platforms such as Collected.Reviews, customers can make better-informed decisions.
FamZoo was founded in 2006. This company provides a service and function as anonline business focused on financial education for children.This company was started by Bill Dwight for a Virtual Family Bank concept that serves as a family finance application for kids, teens, and parents. The company has offices located in Los Angeles, California, United States.
Products and Services of FamZoo:
The website of FamZoo is designed as an online banking interface. The company provides 3 services for customers to choose: IOU accounts; pre-paid card accounts; and, a virtual family banking system.
FamZoo’s Virtual Family Bank teaches children about savings, spendings, and earnings with a self-administered online wallet with an online bank account. Parents are able to make transfers, schedule transfers, and use these accounts to teach children to better manage and control finances from these online accounts. With sections on the online bank account, children are able to see how their money flows, from doing chores, to savings, to their spendings.
Pre-paid card accounts are similar to the Virtual Family Bank. These pre-paid card accounts are linked to a central account administered by parents that the children can use for online and off-line purchases and spending. These pre-paid card accounts are provided by MasterCard. With these pre-paid card accounts, children are free from risk, receive no transaction fees, and there are no credit facilities available either.
FamZoo’s IOU accounts are generated by earnings your children have earned through savings and completed chores. These IOU accounts provide children within savings goals.
Customers can transfer funds into the Virtual Family Bank, IOU accounts, and pre-paid card accounts with FamZoo through PayPal, as well as debit and credit cards from Visa, MasterCard, and AmericanExpress.
Compliments, Complaints and Tips of FamZoo:
Have you bought and used any of the FamZoo services before? What did you think of the online banking structure? Are the payments and transfers safe? Are you children able to use their pre-paid card accounts in everyday ways? What do they think of the system and the ease of interaction with the information? Would you recommend this company to friends and family members? Please consider writing a customer review so that other would-be shoppers will know exactly what to expect from this company. Your experience and feedback on their products, processes, procedures, and customer services are invaluable to other people who are searching for more information on this company, products, and services.