Real Money: From their Otly accounts, children will now be able to request transactions for the things they saved for. As a parent you can approve this transaction and your child will see their own balance go down. It will be their first banking experience, all under your control.
Family Fundraising: With the bunq connection your child will have be able to save and manage real money within the Otly app. With this connection we have also added the possibility for Family Fundraising. This means that kids are able to get the money for their birthday, school reports and washing the car, in the Otly app.
Financial Education: Besides this children can finally learn about the value of digital money by managing their own allowance. They can save for what they want, request the purchase through you, and see their balance change. That is what Otly is all about, learning by doing.
How do you connect your account?
First of all you will need to connect to bunq. In Settings you go to Bank Connection and you tap the bunq button. Tapping the button will show you a pop-up which will also show you the rest of the process.
Go ahead and tap Connect.
This will take you to the bunq app, asking you to connect your account. When you are ready to do this, tap Connect Account. When your account is verified and you can go back to your Otly app.
After your personal connection is established, go back to the Otly app. Now you can go ahead and link your kids to their specific bunq accounts.
Connect your children
In the overview screen, tap on the child you want to connect to bunq. You will see their avatar and the bunq logo being unconnected. Tap the bunq logo, tap the next bunq logo too and then tap Connect in the pop-up screen. This will again take you to the bunq app.
Here comes the tricky part. Now you will have to choose which account will be associated with this specific child. Make sure you have, besides your master account, a separate account for each child you are going to connect to bunq.
In Android, if you tap on the little pencil you can choose which of your bunq accounts will be the designated account for this child. In iOS there will be a little picture on the spot of the pencil in the image above. Once you have done this you can accept the connection.
If you want to connect more kids, just repeat the last steps and you can start enjoying the ease of Otly and bunq together.