Ourly is COPPA compliant, which means we place parents in control, we won't ask for your child's social security number, we require parental consent, offer confidentiality and security, and follow the COPPA guidelines of data retention and deletion. All of our banking partners are FDIC insured and PCI compliant.
Parents create an Ourly account and invite their kids, then they pick out jobs and allowance amounts for each kid with our Easy Scheduler. Parents can fund the account either before or after the kids start using the platform to do their work. When work is done, or at the week's end, parents get notifications to review the work. Money only moves from parent to child when the parent approves a child's work.
The parents are the owners of the entire family's Ourly bank account. Parents can see, and will have full access to, each kid's account. Kids can choose to have their money go into their own savings account at their local bank, or they can request an Ourly bank card.
Ourly banking partners are banks and credit union that appear in the platform as an option for kid's allowance to go to. Ourly can partner with any bank or credit union. When a family requests their bank or credit union be added as an option, we contact the bank and invite them to partner with us.
If your local bank or credit union is part of our network of partner banks, you may be able to use Ourly for free!
Kids need to be at least 13 years old to use Ourly, as most banks have restrictions that apply to their own accounts. Typically, a kid has to be 13 to have a bank account.
Parents use Ourly to assign their kid’s housework and other duties. When parents approve of the work kids do, money moves from the family Ourly account to the kid’s Ourly account.
Not even 5 minutes! You can use Facebook or email and password, and you invite your kids by adding their cell number. Our Easy Scheduler even makes rotating jobs between multiple kids a click and done, plus connecting your checking account to fund is as easy as logging into your bank!