Questions We Would Ask đ
About Leap
Leap is a company on a mission to raise financial literacy for children. The Leap card and app were built from the ground up with parents and children in mind. Parents get the tools they need to manage their kidsâ money and kids get real-life lessons in earning, spending and saving. We also have some exciting features lined up so stay tuned!
The Leap app is now live on the Apple and Google app stores! đ
Leap plans cost 20dhs per month per child. This includes access to all features within the app as well as the childâs prepaid card. The 20AED will deducted from your Parent Wallet on a monthly basis. Your first month is on us and you can cancel at any time.
Leap Card
The Leap card is prepaid card your child receives that can be used almost anywhere Visa is accepted, online and in-store by using Google Pay (Apple Pay is coming soon). We say âalmost,â because we’ve put important barriers in place for the security kids.Â
The minimum age to join Leap is 8 years old and the maximum age is 18. Â
Research has shown that teaching personal finance at a young age has an effect into adulthood. Children begin to develop money habits by age seven. With Leap, we want to empower children with the knowledge and power to make better financial choices. And itâs a prepaid card so very little damage can be done!
Leap has absolutely no spend minimum. If you use your debit card to load your parent wallet, there is a 50 AED minimum load amount. Since bank transfers are free, we ask for a minimum of 200 AED per load when topping up using a bank transfer.Â
Account
Updating the parentâs email address and password is easy and can be found in the account section under the account option of the parent Leap app. Should you need to update your phone number, please reach out to support@savewithleap.com or through the in-app LiveChat and we’ll get that sorted for you.Â
A parent can open up a Leap account for their children aged 8-18Â
On your main wallet screen:
- Tap âManage my kids’
- Tap âAdd childâ at the bottom of the screen
- Fill out your Child’s information and the on-screen directions
Please note that a separate 20 AED monthly subscription will be charged for each additional child.Â
If you wish to cancel your child’s account, please go to your app and tap “manage my kids” on your main wallet screen. From there, tap the child you wish to delete and follow the on-screen instructions.
If your child has any money on their card, it’ll automatically be transferred to your parent wallet when the child’s account is deleted.
Funding
- Navigate to the Wallet tab located on your parent appâs bottom navigation
- Tap âSend Moneyâ at the top of the screen
- Enter the amount you would like to send to your childâs card
- Choose a payment method
- Tap âContinueâ
- After reviewing the details, tap âConfirmâ
- All done!
- Navigate to your âAccountâ tab located on the appâs bottom navigation
- Tap âParent Walletâ
- Tap âAdd Balanceâ
- Enter the amount you would like to send to your childâs card
- Choose a payment method
- Tap âSendâ
- After reviewing the details, tap âConfirmâ
- All done!
At this time, we do not support credit cards as a funding source. You can load funds onto your Leap card by simply connecting your bank account or debit card to the Leap app.
Transfers and funding will happen almost immediately! Please wait a few minutes and if a transfer doesn’t come through, please contact our support number or email us at support@savewithleap.com and we’ll get that sorted for you
Spending
The Leap card can be used almost anywhere where Visa is accepted, online and in-store. However, since our cardholders are kids, weâve made sure to block various establishments where the Leap card will not be accepted. This includes online gambling, bars, and dating sites, among others. Please reach out to support@savewithleap.com to find the list of blocked establishments.Â
No need to worry! Simply navigate to the âCard Controlsâ button on your home screen. After this, select the âFreeze cardâ toggle. The card can be reactivated at anytime.Â
Yes! Withdrawing money from an ATM is possible.Â
If you are refunded for a purchase made with your Leap card, the funds will be transferred back into your Leap card when the processing of the refund is completed.
Saving
With Leapâs Savings Goal, weâve made it easier for you to empower your children to build financial habits by setting a savings goal to motivate and focus their money management. Your kids can create a Savings Goal to save for specific purposes like a new bike, phone, or game!
If your child decides they want to spend money from their Savings Goal, theyâll need to send you a request in the Leap app to be able to spend that money. This way, you can have those conversations about the tradeoffs between continuing to save, or spending their hard-earned money.
A parent can provide an initial deposit when they’re creating their child’s savings goal.Â
To teach children how to manage their own spending and savings, parents are unable to transfer money directly to the childâs savings account after a goal is created. However, parents can transfer money onto their childrenâs spending card. From there, the child can transfer to their savings goal from the new balance on their card.Â
Tasks
Tasks are a fun way for you to earn extra pocket money. Your parent will create a task for you with a due date as well as the AED amount youâll receive for completing the task.
Tasks can either be one-time or weekly. One time tasks are tasks that have one specific due date. Weekly tasks are tasks that are repeated each week with the same reward.
- Navigate to the âTasksâ tab at the bottom of the screen
- Tap the âAdd New Taskâ button
- Enter the due date, name and completion amount of the task.
- Tap âAdd taskâ once finished.
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