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Increased Referral - $20 for Referee, $10 for Referrer @ Spriggy

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Just received an email from Spriggy, they’re increasing referrals until 30 June 2022:

Invite friends to Spriggy and we’ll give them $20 of Spriggy when they successfully sign up using your unique referral link. And you’ll get $10 as thanks from us. 🥳

This offer ends on 30 June 2022, so hurry!

Full T&C’s

Edit: for those who couldn’t be bothered to following the link:

Spriggy is a financial education offering for families built around a prepaid Visa card for 6-17 year olds with a purpose-built mobile app that parents and kids use together. Young people get their own personalised Visa card to spend online and in-store while parents get a simple digital tool to pay allowances, follow transactions and encourage savings. Together, families get the opportunity to teach young people about money in a safe, simple and practical way. In a digital age, where money is less tangible than ever, Spriggy offers a glimpse at the future of teaching young people about money.

Referral Links

Referral: random (88)

$20 for referrer and referee

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closed Comments

  • +3

    and what do spriggy actually do?

    • Spriggy is a financial education offering for families built around a prepaid Visa card for 6-17 year olds with a purpose-built mobile app that parents and kids use together. Young people get their own personalised Visa card to spend online and in-store while parents get a simple digital tool to pay allowances, follow transactions and encourage savings. Together, families get the opportunity to teach young people about money in a safe, simple and practical way. In a digital age, where money is less tangible than ever, Spriggy offers a glimpse at the future of teaching young people about money.

      • +1

        I don't mind the sound of that mission statement.

        I presume the VISA is debit not credit?

        Are there fees associated with the account?

        Is it a financial provider who also has services for credit cards and may, or may not, have the opportunity to market to the maturing 17- going on 18-year-old?

        I'd still maybe start a child on a physical cash system for learning about cashflow and personal finance management before transitioning to a digital system when they're closer to adolescence 🤔

        • I presume the VISA is debit not credit?

          Prepaid

          Are there fees associated with the account?

          Yes $30 per child per year and similar conditions to other prepaid products in the market as that's essentially the business model.

          Is it a financial provider who also has services for credit cards and may, or may not, have the opportunity to market to the maturing 17- going on 18-year-old?

          As of yet no they are independent. But things could change and I wouldn't be surprised given the Commonwealth Bank has also entered this market through their investment arm this company may be primed for acquisition.

    • I included a link to their website in the post which explains.

  • -1

    $30/year account keeping fees… no thanks.

    Recently signed my son up with a Everyday Youth account with Great Southern Bank (formerly CUA) no account keeping fees, no transaction fees, no atm fees. Plus attached a Youth eSaver account with no fees and 2.5% interest.

    • This product is a bit different to what you’re comparing it with.

      • What can you do with Spriggy that you can't do with the account I signed up for?

        • Their website explains what their product offers.

          • @rye: Which I can't find anything that can't be done with the account I signed up for…

          • +2

            @rye: Fair question, do other traditional transaction/saving accounts allow similar functionality, like a debit card for the minor and digital oversight by a parent?

        • The main difference between this and most other accounts is the built-in pocket money and money training functionality and the fact that because they use prepaid cards kids are eligible to get a card sooner.

          This definitely would not be my suggestion for older children that are eligible for a full debit card or for growing savings for later in their life.

          But it's definitely useful if they need a transaction account with access to a prepaid Visa card under the age of 11.

    • 30 day free trial

    • +1

      Another reason I decided against spriggy was the reviews which stated customer service was non existent.

      https://www.productreview.com.au/listings/spriggy

    • upto $5k , and it used to be 4% at CUA before they dropped it down to 2.5% after being taken over

      • Taken over? Wasn't it a name change? Pretty sure most institutions dropped their interest rates on savings accounts over the past 2 years. Not sure there is anything out there that is at 4%

    • +1

      agree great southern bank is best account for kids and they get an eftpos card too no fees

  • +1

    thanks

  • CBA have similar product without annual fee, no transaction fee, no ATM fee, able to transfer money out. The app is designed for children with coloful stickers, fun stories and my daughter loves it.
    https://heykit.com.au

  • seen facebook nab ad its free for 12 months if you hold a nab transaction account. so would you still get the refer $20 credit and be able to withdraw it to make a profit?

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