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FamZoo

At Amboy, we understand that financial literacy is key to a successful future, but teaching kids to be financially savvy can be a difficult, but essential, endeavor. That's why we're partnering with FamZoo, which offers an innovative, practical, and customizable approach to instilling financial wisdom from an early age. 

Prepare your kids for a lifetime of financial success

Why FamZoo?

  • Practical education: FamZoo empowers parents to turn everyday experiences, like household chores, into valuable financial lessons.
  • Flexibility: Every family has its own values and beliefs when it comes to money matters. With FamZoo, you have the flexibility to customize the conversation and lessons to align with your family's unique financial principles. You're always in control of the financial education your child receives.
  • Foster independence: FamZoo encourages kids to make their financial decisions under your guidance. It gradually eases them into understanding finances, starting with simple concepts, like saving for a new toy, and gradually progressing to more complex topics, like earning interest and budgeting for future goals.


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FamZoo
Mobile App

Set up your own online Virtual Family Bank to manage your kids' allowances, chores, budgets, goals, loans, spending, saving, charitable giving, and much more. Start simple with young kids, and add sophistication as your children mature through their tween and teen years.

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Debit Card for
Kids and Teens

Prepaid card accounts hold real money that kids can spend directly (with parental oversight). Fund with automated transfers or whenever you see fit. You can define the Virtual Family Bank rules to match your family’s unique values.

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Financial Tips
and Education

Kids get the benefit of hands-on experience spending, saving and giving, and parents get the benefit of a library with over 350 family finance tips to help you give your kids the financial education they’ll need to thrive in the real world.

Who is FamZoo For?


Kids

Provide an allowance or deposit birthday money right into their own account.

Additional Resources

Teens

Introduce spending, saving and giving habits with helpful tools like Budgeting or directly deposit paychecks from a first job into your child's own account.

Additional Resources

Young Adults

Transition your older children into financial independence.

Additional Resources
  • Reality Check: Answer a few basic questions about the type of lifestyle you want. 
  • Financial Football: A fast-paced, interactive game that engages students while teaching them personal finance skills.


FamZoo Features

  • Keep your kids on a budget: Parents control accounts and money rules. Kids see just their own accounts with controlled access.

  • Track chores and odd jobs: Teach kids the value of a dollar and the connection between money and work. Schedule chores and odd jobs tied to rewards or penalties.

  • Automate allowances: Automate recurring transfers, such as allowances, between family member cards.

  • Encourage saving: Teach kids to set, track, and achieve financial goals. You can set savings goals, make savings projections, and track progress, all from the FamZoo app.

  • Inspire charitable giving: Teach kids to assign a purpose to each dollar with simple envelope budgeting. Separate funds into multiple purpose-driven accounts.

  • Pay interest: Teach kids the power of compound interest in a timeframe they can appreciate. Define and automatically pay your kids an interest rate on their savings.


How to Get Started

  • Enrollment: Log in to Digital Banking, choose FamZoo in the lefthand menu, and click Start a Free Trial. Enter your billing details to begin your 30-day free trial.

  • Set up your FamZoo account: Enter your family's information, including who will be on the parent and child accounts, how many prepaid debit cards you need to order, etc. 

  • Transfer funds: While you're waiting for your debit cards in the mail, you can transfer funds directly from your Amboy account to your FamZoo parent account. In Digital Banking, choose Funds Transfer from the Transactions menu and select FamZoo as your external To Account.

  • Download the app: Manage your family's finances while on-the-go with the FamZoo app available in your app store. 

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