Wallit is a digital wallet and money app for families with teens. Wallit makes it fun, and easier than ever to manage, save, send and spend money wisely. Wallit offers a safe and fun way for parents to help their teens learn about money in the modern world.
Parent’s can link their own checking or savings accounts, and can either share one of their accounts with their teen for their teen to withdraw money to, or parents can link their teen’s joint account for them. Your teen’s account will help them understand earning, budgeting, goal planning, saving and spending, and in the process help them learn lifelong healthy financial habits. Money your teens earn from doing tasks you assigned them can be withdrawn to a connected bank account or spent through Wallit on any of the hundreds of gift cards from top retailers and brands that we offer through the app.
Your children can only spend the money available in their Wallit balance and there is no danger of debt or overdraft. For parents, this is a really simple and easy way to manage your children’s pocket money and automating allowances online – whether you want to set a weekly allowance, make a quick transfer to your child or set tasks for them to earn their money, Wallit make your life easier.
A Co-Parent is another person in your household (aged 18 or older) responsible for raising your teens with you. Co-Parents in the Wallit app have the ability to approve and edit allowances (paid from your, the main parent's, Wallit Balance), but at this time are unable to transfer or receive money.
You can sign up by going to my.wallit.app and signing up with a username and either a password or mobile number. During the sign up flow you'll create your profile, invite your family members, and link your checking or savings accounts.
During the sign up process, we'll ask you for your full legal name, an email, mailing address and the last 4 digits of your social security number. We use this information to verify your identity so we can link you savings and checkings accounts.
You can invite your teens during the sign up flow or later by going to your 'Profile' and selecting 'Family'. At the bottom of the list of currently invited family members you’ll see the options to invite an additional co-parent or teen.
Wallit is meant for all ages! As soon as your kids are ready to start earning an allowance and learning how to responsibly save and spend the money they earn, they can start using Wallit.
Only Parents can link checking or savings accounts and link them to Wallit. Simply add your teens' accounts by going to the 'Accounts' section on your dashboard and hitting the 'Add an Account' button.
Once you've added an account, select it and find your teen's name from the 'Share Account With' drop down menu. By doing this you are giving your teen the ability to deposit and withdraw money with this account, even if the account isn't in there name.
Yes! Teens can save the money you give them and spend it on gift cards. You can also share one of your linked accounts with them to give them the ability to withdraw their earned allowance to that account. Sharing an account is a great way to give your teens the freedom of their own account without actually making one for them at a bank.
If you or your teen has forgotten their username and/or password, please contact us at firstname.lastname@example.org
Contact us at email@example.com