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How does NatWest Rooster Money work?
How does NatWest Rooster Money work?

Find out all about Rooster Money and how it works here.

Updated over a week ago

Our mission at Rooster Money is to help parents teach their children the value of money in a digital age.

We want to transform the way you manage money with your family by using the latest technology to bring to life all the sound traditional financial principles we were brought up with (or wish we were!) and make managing money relevant and smart.

We have three Rooster Money products to meet the needs of all families.

The Rooster Money Tracker (Free)

The Tracker feature helps you and your children manage pocket money and allowances.

The Tracker is all virtual money, so there's no actual deposits or transfers made within the app. The physical money remains with the Bank of Mum and Dad until your child wants to spend some of their pocket money.

The Tracker provides a flexible framework which can be used to suit your family's needs, whether you want to track stars with the little ones, support an allowance routine, or upgrade to our PLUS subscription teach your children the importance of earning with chores.

Included with the Tracker are all of our Rooster Money Foundation features:

  • Automatic allowance -This means you don't have to give your child physical money, but instead track what is owed digitally in the app, keeping their money safe with you and helping you easily remember what is owed to them when they’re ready to spend it. You can set up an automatic allowance schedule to top up their virtual wallet without you having to remember to do it each week.

  • Boosts and Removes - You can track how much your child is earning and using, by boosting and removing pocket money from their accounts every time they spend or save.

  • Save Pot - Teach your child the value of Saving by encouraging them to set money aside in their Save pot. You can even set up a Split Allowance to automatically send a % of their allowance straight to Save on allowance day.

  • Custom Goal Pots - Set up Goal pots for things your children really want but don't have enough money for yet. They can track their progress so they know how well they’re doing.

  • Give Pot - Save towards a cause or charity using the Give pot, with the option to make direct donations with our charity partner JustGiving.

  • Rooster Activity Graph - The Rooster graph within the Spend, Save and Give pots lets your child scroll through previous transactions to see their progress and the impact of removing or spending money. A more detailed account can also be found in their Statement and pot's History.

Rooster Money PLUS subscription (£0.99 per month)

You can unlock additional features with our Rooster PLUS subscription:

  • Chores - You can now add all the chores your child is responsible for, and you have the option to tie your child's allowance to completing these chores. You can choose to pay them all of their allowance, none or a percentage of allowance based on the number of chores they complete.

  • Extra Earners - Give them the opportunity to earn more pocket money with Extra Earner chores. You can attach a monetary value to tasks which they can earn when completed.

  • Interest Rates - Set an Interest rate to the Save pot to encourage long term saving.

  • Regular outgoings - Encourage budgeting for things like subscriptions or phone bills.

Rooster Card (£1.99 per month or £19.99 per year)

Once your family is ready, you can graduate any child over 6 years old to a Rooster Card - a prepaid debit card that moves them away from a virtual wallet and over to real money.

  • Parent Account - You can control real money deposits and withdrawals in and out of the Rooster Money account

  • Parental controls (Card settings) - Set limits, and decide how and where they spend money by turning on/off they ability to use the Rooster Card at ATMs, abroad, online, in stores or with contactless payments.

  • Spending Limits - Set spending limits for daily, weekly, monthly or one off transactions

  • Dynamic CVV - A built in security feature that provides a new CVV code every time you make an online purchase.

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