Frequently Asked Questions
Can’t find what you’re looking for? We’ve shared some of our most frequently asked questions to help you out!
I forgot my password. How do I reset it?
On the Login screen, simply tap Need help signing in? and follow the prompts. You will receive a Reset Code on your phone to ensure your new password’s security.
How do I change my password?
If you would like to change your password, simply tap the Gear Icon in the top right corner of your screen. Tap the Security Settings section to view your options. Then, tap Change Password and follow the prompts.
What is a Parent Account?
A Parent Account is the main account. After a parent has logged in, they can set up an account for their child(ren), create missions, approve goals, and track child progress. Currently, you are only able to have one Parent Account per family because of the type of account that we use with our banking partner, nbkc. These accounts are the safest accounts for a family to work together to learn about money.
What is a Child Account?
After a Child Account is created by the parent, kids are then able to use their own username and password to log in and explore NuMoola from their vantage point. This Child Account is a kid-friendly world where they are encouraged to complete missions, create and save for financial goals, and learn about finances in a fun and exciting way! The Child Account is linked to the Parent Account for parents to track each child’s progress.
How do I add a child?
If you are a parent or guardian, tap the Plus (“+”) symbol on your Parent Account’s Home Screen and sign up your child. Enter the relevant details and the password that your child will use to log in to their own NuMoola Account(s).
Can a child set up a NuMoola Account?
You are an important part of your child’s financial literacy journey. Without a Parent NuMoola Account, your child will not be able to explore and participate in all that NuMoola has to offer.
I've created an account and added child users. How does my child explore all that NuMoola has to offer?
NuMoola has created an exciting world for your child to explore. Log out of your Parent Account and have your child log in to their Child Account to check it out! A Parent Account is linked and works together with the Child Account(s) to allow for parent-child communication within the NuMoola App.
Does NuMoola work on a shared device?
Yes, NuMoola works on a shared mobile device. Each user just needs to sign out once they are done managing their activities and then the next user can sign in.
Can more than one family member use the Facial Recognition login capability?
No. At this time, we only support login using facial recognition for one family member per mobile device.
Who do I contact about questions with my NuMoola Account?
If you have any questions, contact our team at firstname.lastname@example.org and we will get back to you shortly.
What is NuMoola?
NuMoola is a family-focused consumer banking app that uses real money, gamified education, and the family network to teach kids (and parents!) about managing money, missions, and budgets. By linking missions and goals to real money, you are helping create powerful connections and a better relationship with finances.
Why do kids and parents need NuMoola?
NuMoola fosters essential life skills from an early age. Our platform provides a safe place for kids to interact with their own money using oversight and guidance from the key adults in their life – parents, grandparents, and others. NuMoola makes it fun and exciting to learn about saving, spending, donating, and investing.
Is NuMoola safe?
We take your family’s privacy and security very seriously. We only allow parents and parent-approved family members to contribute to the financial well-being of your child. Your money is FDIC-insured up to the federal limit of $250,000.
What is NuMoola's Mission?
Our mission is simple: To teach essential financial literacy skills and equip children with educational tools and real money to apply the skills successfully. To achieve this mission, the content presented in NuMoola’s lessons and games utilize nationally recognized financial literacy standards from the Council for Economic Education and Jump$tart. We have also partnered with Lightbulb Press, a highly-regarded creator and publisher of objective educational financial content.
How do you differentiate instruction?
At NuMoola, we understand that children are unique and learn in different ways. We meet the needs of various learners by exposing them to auditory, visual, and tactile (touch) learning while making financially literacy fun! How can we better support the needs of your learner? Please email us at email@example.com.
How will I be able to gauge their learning?
NuMoola promotes an immersive environment where children are given various opportunities to gain key financial literacy skills. From Cosmic Challenges, Smart Star Tips, Amazon Alexa integration, gamified education, and family trivia games, they will develop a solid foundation of financial knowledge. Within the NuMoola App, parents will be able to set real Missions and develop Family Goals. Kids will also be able to set individual Goals and giving Goals. With guidance from a parent or guardian, they will work to reach these goals. They will have experiences with real money as they learn to earn, save, spend and give. This allows them the opportunity to apply the skills learned through their journey with NuMoola and is where true learning takes place.
What type of partnerships does NuMoola participate in?
Through a combination of child-focused tools and gamified financial education, NuMoola fosters children’s understanding of core financial concepts. We are partnering with affinity groups, technology innovators, and educational content providers to provide an engaging financial literacy curriculum.
Affinity Groups: NuMoola is a partner of Junior Achievement of Western Pennsylvania. As part of this strategic partnership, NuMoola will be featured in the JA BizTown® program, a hands-on classroom learning simulation that teaches elementary and middle school children about economics and entrepreneurship.
Technology Innovators: A key feature of NuMoola’s gamified education platform is our integration with Alexa voice technology and partnership with Amazon Alexa. With Amazon Alexa, NuMoola engages kids through comprehensive financial lessons and “Cosmic Challenge” comprehension activities.
Educational Content Providers: NuMoola’s educational tasks and gaming features are based on nationally recognized standards: JumpStart and the Council for Economic Education. NuMoola has partnered with Lightbulb Press, a highly-regarded creator and publisher of objective educational financial content.
Why do I have to link my external bank account in the app?
We believe using real money and gamified education encourages commitment from the entire family to learning about money. To make this happen, we connect your external bank to your NuMoola bank account. You then manage money movement between you and your kids with the NuMoola App, which allows you to electronically pay their allowance or pay them a reward for completing a Mission! Linking your external bank accounts also allows you to easily transfer money into and out of your NuMoola bank account using electronic ACH transfers.
Is NuMoola a bank?
No, NuMoola is not a bank, and we never touch your money. NuMoola is an educational App that uses real money to teach kids (and parents!) about managing their finances. Like other FinTechs, we have partnered with a bank to safely and securely hold your money in an FDIC-insured account up to the federal limit of $250,000. You can access your NuMoola account balance through the NuMoola App and move your money through the NuMoola App, but this is completed directly between our banking partner and your external bank.
How do I link my bank account to NuMoola?
Tap the Gear Icon in the top right corner of your page to view Settings. Then, tap the Moola section in Settings and select Banks Accounts. From there, you can link and/or verify your external bank account. To add a new external bank account, press Add Bank and follow the prompts. If you do not see your bank in our provided list, search your bank’s name in the Search bar at the top of the page.
How does NuMoola handle my banking information for account transfers?
NuMoola has integrated our platform with an industry-leading third-party account linking service, PLAID. For their banking partners, PLAID allows for the instant verification and use of a bank account for direct transfers without using your routing and bank account numbers. PLAID’s documented safety practices are committed to handling your data with the utmost care and respect for your privacy. Millions of people have used PLAID to connect to various services that they rely on. Through PLAID, you can rest easy and know your banking information has been secured properly for your NuMoola Account.
What if my bank does not use PLAID? And what are Micro-deposits?
If your bank does not use PLAID, you can still safely and securely link your external bank account to your NuMoola bank account using the Micro-deposit manual account linking process. Micro-deposits are small sums of money that are transferred online from your NuMoola account to your external bank account to verify your account. This is a commonly-used method to ensure you are the owner of the bank account that you are adding to the NuMoola App.
How do I link my external bank account using Micro-deposits?
If your bank does not use PLAID for account linking, you can simply select the Parent’s Moola Settings page, tap on the “Add Bank” option, choose “Micro-deposits”, and then follow the prompts. The information you enter will be stored in a highly-encrypted database, and you are the only one who has access to this information. After you follow the prompts, two small Micro-deposits will be sent to your external bank account. At that point, log back into NuMoola to enter the Micro-deposit amounts and complete the account linking process. Now, you have successfully linked your external bank account to NuMoola and the financial literacy fun can begin!
After I sign up, how long do I have to make an initial deposit?
There is no minimum requirement for how long you have to make an initial deposit into your NuMoola Account. Although, once you set up your NuMoola Account we encourage you to add your children, link your bank account, and make a deposit to begin this exciting journey with your family!
How long will it take for my money to transfer to my NuMoola Account?
After your initial account set up, it will take 5 to 7 days for the first ACH transfer between the external bank account and the NuMoola bank account. For subsequent transfers, it will take approximately 2 to 3 days between the external bank account and the NuMoola bank account.
I don’t want to pay my child an allowance or for completing a Mission. Do I still need to set up my external bank account details?
You are not required to set up an allowance for your child or pay them for Missions. So no, you are not required to link your external bank account to your NuMoola bank account. Instead, you can work with your children on the importance of financial literacy using encouragement methods you are comfortable with.
That said, we believe using real money and gamified education encourages commitment to learning about money. If at any time you change your mind, you can simply go into your Parent’s Settings page to link your external bank account and continue the fun by using real money!
How do I know how much money I have in total in NuMoola?
You can view your Family Total Amount right on your Parent’s Account Home Screen or by tapping on the Family Total to see:
1) Total: The total amount of money in NuMoola across you and your child(ren)s account(s)
2) Available: The total amount of money available in your Parents NuMoola account to be contributed to your child(ren)
3) Pending: The total amount of money pending to be externally transferred in or out of your NuMoola bank account, this requires you adding money from the Parent’s Account Home Screen or from the Settings Moola page
How can Parents contribute?
With NuMoola, Parents can easily contribute to kids’ savings. Simply link an external bank account to your NuMoola bank account using the Settings page. Once an external bank account is linked, tap Add Moola on the Parent Account’s Home Screen and follow the prompts. The money you just added will be shown as a Pending balance. This money will not physically move from your external bank account until the banking system reviews and approves the ACH transfer, which usually takes a couple of days. When the money is finally allowed to transfer, it will be removed from the Pending balance section and now shown in the Parent’s Available balance account. This money can now be used in NuMoola to work with your child(ren). A child’s financial wellness will thrive thanks to the adults around them, who have a secure tool to send money and reward a child for completing a mission, or as a gift or allowance.
How does my child purchase a completed Goal?
We plan to allow more direct transactions in the future, but for now, here’s how you can help your child purchase their completed Goal. To encourage your child to save for a Goal, we allow the child to create a Goal that is designated as a Spending Goal. This Spending Goal is set up by having the child, from their Child Account’s Home Screen, tap Add Goal. From there, the child taps on the Spending Goal Type and enters details of their Spending Goal. Once the child reaches enough money in their NuMoola bank account, they can view the Goal and tap Complete. A message will be sent to your Parent Account’s notification center asking you to approve the Goal. Once you approve the Goal, NuMoola will electronically transfer money from your child’s NuMoola bank account to your external bank account, so that together you and your child can spend the money on their Spending Goal! Congratulate your child on this milestone, and talk to them about the importance of savings and planning for spending!
How can my child make a charitable contribution?
Today, we are limited in how your child can physically give to a charity. However, they are not limited with how they can plan to give to charity! To encourage your child to give to charity, we allow the child to create a Goal that is designated as a Charity Goal. This Charity Goal is set up by having the child, from their Child Account’s Home Screen, tap on Add Goal. From there, the child taps on the Charity Goal Type and enters details of their Charity Goal. Once the child reaches enough money in their NuMoola bank account, they can view the Goal and tap Complete. A message will be sent to your Parent Account’s notification center asking you to approve the Goal. Once you approve the goal, NuMoola will electronically transfer money from the child’s NuMoola bank account to your external bank account, so that together you and your child can donate that money to their charity of choice! Congratulate your child on this milestone, and talk to them about the importance of giving to others!
MISSIONS AND GOALS
What is a Mission?
How do I add a Mission?
To add a Mission, simply tap the + symbol on your Parent Account’s Home Screen and follow the screen prompts. If you don’t want to assign a monetary reward for the child completing the Mission, then simply enter $0.00 in Payout field.
What is the difference between Assigned, Collaboration, and Competitive Missions?
In the Parent Account, you can assign three different types of missions to make task completion fun! For Assigned Missions, you are able to assign a specific mission to one or more of your children that each child must complete. Payout is on a child-by-child basis. With Collaborative Missions, all of the children in the family work together to complete a specific mission. Payout is then divided equally among your children after a mission is approved by a parent. With Competitive Missions, all children in the family network can be selected to complete a Mission. Payout is then given to the child who finishes the task first after the mission is approved by a parent.
I don’t want to add a payout amount to my child’s Mission. Is this possible?
Yes, you do not need to add a payout amount to your child’s Mission. In this case, just enter $0.00 for the Mission payout amount.
How do I set up a recurring Mission for my child?
Is there a limit to how many missions I can assign to a child?
There is no limit to how many missions you can assign to a child. It’s important to gauge each child’s interest and abilities and set missions that are appropriate for your specific child and family.
How does my child mark a Mission as Complete?
When a child successfully completes their Mission, they can tap the Mission to view the detailed Mission page. At the bottom of the Mission page, your child can tap the Complete Mission button and the Mission will be marked as Mission Ready. A message will be sent to your Parents Notification page to approve the Mission.
How do I approve or decline a Mission?
When a child successfully completes their Mission, they can tap on the Mission to view the detailed Mission page. At the bottom of the Mission page, your child can tap the Complete Mission button and the Mission will be marked as Mission Ready. A message will be sent to your Parents Notification page to approve the Mission.
How are Missions Statistics on the Dashboards calculated, and when are they reset?
On all dashboards, missions are displayed Monday through Sunday. Each week, they are reset on Monday’s at 12:00AM ET. Missions are calculated by taking the number of completed and approved missions divided by the total number of missions.
Your child can view their Mission Statistics on the Child Home Screen of their account. Parents can view Mission Statistics of a specific child by tapping on their Child’s Avatar on the Parent Home Screen.
What is a Goal?
In a Child Account, there is an opportunity for your child to create goals and save to reach those goals. They can also set charity goals and work towards saving to donate. Once a goal is created, you will receive a notification in your Parent Account. A goal must be approved by a parent or guardian before they are able to start saving!
Is there a limit to how many goals my child can create?
There is no limit to how many goals your child can create. However, it’s important to help your child set an appropriate amount of goals that they will find success in reaching.
EDUCATION & GAMING
What is gamification?
Gamification is learning through games. We want the experience to be an amazing experience your child! Games are a way to reinforce key objectives as they support financial literacy stands and meet the needs of different learners.
What is an Alexa Skill?
NuMoola makes learning about money management fun! Our Alexa Skill engages kids of various age groups and presents core financial literacy concepts, such as earning, saving, spending, giving, and investing. With families leading busy and hectic lives, children are introduced to a new financial education topic in a minute or less and are rewarded with points on their NuMoola Mobile App for successfully completing the lesson.
Why is voice technology important to NuMoola?
Alexa voice technology is an excellent tool that limits a child’s screen time, but still provides an opportunity to learn. With voice assistants becoming a part of the family, gamified learning through voice technology creates a more interactive educational experience that assists in the development of audio processing skills.
What is voice technology especially good at?
Voice technology enables conversational learning and the exploration of a child’s imagination. Through voice interaction, we believe that children will better retain this critical information and visualize their own goals as they navigate personal finance lessons. This goes beyond voice control; children are now in control of their own learning journeys as they select new financial lessons and interact with Alexa at their unique pace.
What is a Cosmic Challenge?
A Cosmic Challenge is a mini-lesson that is packed with financial literacy content and anchored to nationally recognized standards. The lessons also bring together various subject areas, outside of finances, and relates the topics to support financial literacy. This cross curricular approach engages children and brings about further learning while reinforcing various educational skills in other content areas. Following the mini-lesson, kids will be asked questions to check for understanding of the key concepts presented.
What age(s) is a Cosmic Challenge appropriate for?
Today, our Cosmic Challenges target kids in third grade through fifth grade. However, we are busy adding new Cosmic Challenge topics all the time, so be on the lookout for updates in the Notification Center of your NuMoola App to learn about the latest Cosmic Challenge additions. That said, our Cosmic Challenges are appropriate for children (and adults!) of all ages who are interested in learning more about money management. In fact, we highly encourage families to take the Cosmic Challenges together and talk about the lesson that’s being taught as a family!
What do kids earn for completing Cosmic Challenges?
If a child correctly answers both Cosmic Challenge questions, they will earn Points for their NuMoola bank account! This is a fun way for kids to track their progress and target new milestones with their financial education. If a child does not answer one or more questions correctly, it is strongly encouraged that they try again and retake the Cosmic Challenge before beginning a new one. It is critical that they understand these fundamental finance concepts and they will have as many chances as they would like to keep trying.
Can my child earn real money for completing Cosmic Challenges?
Currently, your child earns points for completing Cosmic Challenges. If you would also like to reinforce them in a monetary way, you can set up a Mission within the NuMoola App specific to this. You can then reward them after a single Cosmic Challenge or after they have completed a set amount of Cosmic Challenges. Just have them tap Complete Mission with the NuMoola App when they are done. The Parent will receive a notification to review the Mission and be able to Approve or Decline the Mission from their Parent App.
How does my child earn Trophies?
You may have noticed the Trophies section – and all of the fun opportunities for children to collect them! Children will receive Trophies after reaching critical milestones in their education, such as completing a certain number of Cosmic Challenges or reaching different goals.
What is a Smart Star Tip?
A Smart Star Tip is a weekly financial literacy tip. The Smart Star Tips vary in topics and promote a sense of community as tips are shared from various individuals with diverse backgrounds. It’s a great way to share valuable information and ideas while building a financial literacy community!
How do I access a Smart Star Tip?
A Smart Star Tip can be accessed through the NuMoola App or through Amazon Alexa. A notification will be sent within your NuMoola App stating that you have a new tip each week.
What age(s) is a Smart Star Tip appropriate for?
Smart Star Tips are family friendly and are great for all ages. The tips are a wonderful way to bring about further discussion in your home.