The offer extends to NatWest Group customers as long as they remain with NatWest, Royal Bank of Scotland or Ulster Bank. The Rooster Card subscription normally costs GBP 1.99 a month or GBP 19.99 per year, which means that the offer has an annual value of up to GBP 65.67. Moreover, parents will be able to access the free Rooster Card subscriptions for up to three children aged six to 17.
The offer comes in the context of NatWest’s ambition to support youth through other programmes such as the free financial education programme, MoneySense, as well as the Thrive programme launched in partnership with Marcus Rashford and the National Youth agency.
NatWest Rooster Money representatives emphasised how the company can help youth get a head start with money. They also mentioned that families want to get their kids engaged with making considered spending and saving choices, which is why this new offer will provide value to customers at a time when family finances are under pressure.
In turn, NatWest officials expressed their commitment to supporting the younger generation at every age and stage of their life. By making NatWest Rooster Money even more accessible for NatWest customers, the company aims to help to reduce financial struggles while giving children the tools they need to build a solid financial foundation.
NatWest Bank has acquired fintech pocket money app Rooster Money in October 2021 and has relaunched it as NatWest Rooster Money. UK-based fintech Rooster was originally launched in 2016 with the goal of helping parents and children to learn about earning, saving, giving, and spending money. The app evolved over the years, adding new features such as reward charts, chore reminders, and customised interest rates that can be set by parents to encourage the saving habit.
The NatWest Rooster Money app was designed to help parents keep track of their child’s virtual allowance, spending, and saving. The company’s RoosterPLUS subscription allows users to set an interest rate on their child’s Save pot and let them keep track of how their savings grow over time.
There’s also a Give pot feature that allows children to set contributions aside for causes that are important to them. The Statement and Pot History features allow children to reflect on their savings and spending over time and to better understand where their money is going.
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