Give them a reason to save

The 4% boost is applied to:

• Funds held in teen savings goals.

Funds held in the parent’s balance. The boost is typically calculated periodically (e.g., monthly). Specific calculation details should follow internal guidelines. See our Modak rewards boost Terms

• Go to the parent app and log in using your phone number. You will receive a verification code to confirm your login.
• Once logged in, you will be directed to the home page. Here, you will see “My balance” and click on “add money” button to your account.
• Or you can send the money directly to your kid’s account by clicking on “$ send” either going to down the middle; or selecting your kid´s profile and “send money”.
• “Add a Bank account” Currently we are upgrading this feature.
• On the next page, you will see options as “My balance“, “Use a new Credit/Debit card (Fast transfer)”, Google pay or apple pay
  • If you select “My balance” you will be redirected to pick an amount screen based on your current parent balance. Type the amount, pick to witch kid you are sending the money to, and click on the next button.
    • If you selected “Use a new Credit/Debit card” you will be redirected to pick an amount screen and then directly to Checkout platform to finish the transaction. With this option, you can use debit or credit, apple or google pay cards to fund the parent and or kid account.
    • To set up a direct deposit, simply click on the “Bank details” button in the teen profile. You’ll find the necessary details there, which you can use to transfer money directly to the teen’s account through your bank’s platform.
    • Tap Confirm and Send to complete the transfer.
    • Select Linked Bank Account from the funding options.
      • You’ll be redirected to a Plaid agreement page. Follow the prompts to securely connect your external bank.
      • Once linked, the bank account will be saved in Modak for easier future transfers.
      • To fund your teen’s account tap on the send button, if you want to add funds to your own parent account, tap the Add $ button.
      • Enter the amount you’d like to send, review the details, the Standard transfer is preset (no fees).

• In your parent home screen navigate to the bottom and click on the icon “Send $”
• Choose a child, write the amount you wish to send, and “continue”
• Follow the instructions in the screen to send the money