Kids Privacy Policy

At Money Bloom, it’s our privilege to help parents raise financially-smart kids, and we take our responsibility to your kids seriously. This “KID’S PRIVACY POLICY” explains our collection, use and parental consent practices in connection with Personal Information of kids under 18 in accordance with the Children’s Online Privacy Protection Act or COPPA. This “KID’S PRIVACY POLICY” uses defined terms from the rest of our Privacy Policy, of which it forms a part.

The Information We Collect, How We Use It, and How and When We Communicate with Parents During the registration process to create a primary account for use of Money Bloom Services, regardless of whether registration occurs on the Website or on the Money Bloom App, we first ask the individual attempting to register for their mobile phone number, whether they are a parent/guardian or a kid, then we ask the individual for their date of birth. If the date of birth indicates that the individual is a kid younger than 18, then the kid receives a message indicating that the kid will need a parent or guardian to create an account, and the kid is shown a message to tell their parent or guardian about Money Bloom and have their parent sign up at the Website or download the Money Bloom App.

In addition, the registration session ends for that individual, we do not retain the mobile phone number or birth date information and no further registration information is collected. If the individual is 1 years or older, then we will request the minor to provide a first and last name, an email address and password, and a parent’s cell phone number so that we can provide the parent with information about how to download the Money Bloom App and finish registering an account.

We request, via digital consent during the registration process, that the parent or legal guardian establishing sub-accounts represent that they are the parent or legal guardian of minors under the age of 18 for whom the account is established and that they consent to our collection and use of the kid’s Personal Information in accordance with this “KID’S PRIVACY POLICY” section of our Privacy Policy.

When a parent or legal guardian decides to add a kid as a sub account, they provide us with the first and last name, and mobile phone number, if any, of a kid under 18 in order to establish the kid as a subaccount cardholder. The kid is then invited to download the Money Bloom App from the Apple® App Store or Google® Play and, upon doing so, are requested to enter an email address, password, date of birth and preferred pronoun. Once a kid under 18 starts using the Money Bloom App, we collect and maintain transaction data and history from our prepaid card services and Invest Account Services for all accounts in order to provide Money Bloom Services to them.

Parents and legal guardians can access Personal Information of a kid under 18 at their own election from the account family’s dashboard, as described in more detail immediately below. When Information is Available to Others Members of Account Family. Parents or legal guardians, as primary account holders, and any secondary approver can see the name, user name, preferred pronoun, email address, mobile phone number, and birth date of their sub-account cardholders as part of the account family dashboard. They also have access to all transaction details in their sub accounts (such as purchase history details and Invest Account trade details). Sub-accounts cannot see one another data (including Personal Information); data relating to sub-accounts is only visible to that account’s sub account cardholder, the primary account holder that designated the sub-account, and the secondary approver (if any) designated by the primary account holder.