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FamZoo review

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A robust prepaid card for parents with young kids — but it has an unavoidable monthly fee.

FamZoo offers an extensive set of tools families can use to start their child’s financial education. You’ll pay up to $5.99 a month, which is more expensive than other prepaid cards for kids. But you only need $5 to open an account and get access to features like chore tracking, allowance payments, subaccounts and more.

$5.99

Monthly fee

$0

Signature transaction fee

$0

PIN transaction fee

Details

Card typeDebit
Card networkMastercard
Monthly fee$5.99
Signature transaction fee$0
PIN transaction fee$0

Expert review

Rhys Subitch

Review by


Rhys Subitch is a writer and editor at Finder who tackles topics across the site. With half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info on all things finance.

Expert review

FamZoo is one of the more robust prepaid debit card platforms for families. You get real-time money requests, instant transfers between FamZoo cards and detailed spending alerts when your kids use their cards. The card focuses on teaching kids how to save, spend and give, so it’s a great option for parents with young kids. According to FamZoo, over 50% of its users are under age 13.

But cash reloads cost you and there’s an unavoidable subscription fee. You’ll pay $5.99 on a month-to-month basis, although you could pay as little as $2.49 a month if you buy a two-year subscription. But if you were hoping to avoid monthly fees altogether, FamZoo isn’t the card for you.

Pros

Like other prepaid debit cards, FamZoo comes with the ability to add a secondary account holder, track spending, set automatic payments and receive notifications through an app. Other benefits include:

  • Free trial. Your first 30 days are free. Should you cancel your subscription, make sure it’s at least 24 hours before the trial ends.
  • Real-time requests. While you can set up chores with a dollar value, kids can request transfers that you can approve or decline.
  • Declined transaction details. When a card is declined you’ll get specific information about why it was declined and what steps you can take to remedy it.
  • Save, spend and give. Children’s accounts are divided into three subaccounts for saving, spending and giving.
  • Parent-paid interest. The savings account doesn’t pay interest on its own, but you can choose to pay compound interest on a weekly, monthly or yearly basis.
  • No foreign transaction fees. As of January 2020, FamZoo doesn’t charge an extra fee when you use the prepaid debit card for international purchases.
  • High transfer limits. Load or transfer funds up to 99 times a day.

Cons

Like other similar services, you’ll have to pay for a subscription to use the account. Other pitfalls include:

  • Limited cash load options. You can’t load cash on your card with an ATM. GreenDot and Mastercard rePower are your only cash-reload options, and both cost.
  • Extra cards costs. If you get five or more cards you’ll pay a one-time $2 shipping fee for each additional card.

FamZoo subscription costs

The month-to-month plan renews automatically until it’s canceled. Advance payment plans are renewed manually.

PlanCost
Month-to-month$5.99
6 months in advance$25.99
12 months in advance$39.99
24 months in advance$59.99

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loading

Compare up to 4 providers

But if you’re looking for a card with accessible ATM options, you may want to compare more family options by taking a peek at our guide to prepaid debit cards for kids.

How do I get the FamZoo prepaid debit card?

You can sign up for FamZoo, purchase your subscription and order cards online.

  1. Go to the FamZoo website.
  2. Click Order now under the Prepaid card accounts section.
  3. Pick your family sign-in name, your sign-in name and password and add your email. Then select Next.
  4. Choose your subscription plan and click Next.
  5. Set up your primary funding card by choosing the cardholder, making a label and choosing the initial card load. Then select Next.
  6. Add any additional parents or children then click Add card next to each one you would like to add a card for, then select Next.
  7. Enter the legal name, date of birth, Social Security number and address for each cardholder. Then click Verify cardholder.
  8. Select a payment method then select Next.
  9. Enter your payment details and select Buy now.

Eligibility

Primary account holders must meet the following requirements:

  • At least 18 years old
  • American citizen with a US residential address
  • $5 opening deposit

Required information

You’ll need to provide the following information for each cardholder:

  • Full name
  • Date of birth and Social Security number
  • Residential address
  • Email address and phone number

Funding options

You can load any of your FamZoo family cards with these methods:

  • Apple pay
  • Bank transfer
  • Direct deposit
  • GreenDot at the register or MoneyPak, costs $4 to $6 per transfer
  • Mastercard rePower, costs $4 to $6 each transfer
  • PayPal
  • PopMoney, costs 95 cents per transfer
  • Square Cash

How long will it take to get my card?

FamZoo states that it takes seven to 10 business days for cards to arrive. Each card is shipped in its own envelope to the address used to verify the cardholder’s identity.

I got the card. Now what?

To start using your card, you’ll want to start with the following items:

  • Activate the cards. You’ll first need to activate the primary card online in desktop mode through the parent account under the Store tab and then activate each of the other cards.
  • Set up chores. Create checklists of chores and assign values to each task.
  • Create allowances. Set up automatic weekly or monthly allowances, and help your kids delegate what percent of funds go to saving, spending and gifting.
  • Add cards as needed. You can order multiple cards for each family member for specific purposes — a summer trip, lunch money, clothes, gifts or any other number of situations.

Frequently asked questions

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