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Nickel, the Money Saving App for Kids, Calls It Quits

November 11, 2016

Back in March, we introduced you to Nickel, a fun new way to teach your kids about the importance of saving money. On Friday, Nickel announced it would be ending before the end of the year.

In a message on its website, Nickel says that “several factors” led to its discontinuation.

With Nickel, parents could give their kids a digital allowance, which could be accessed using a debit card. It also allowed kids to collect interest on allowances unspent for at least 30 days.

For Nickel customers, here are some important dates to remember as the service goes offline:

  • You can use your Prepaid Card up to and including December 11, 2016.
  • You are encouraged to spend your funds off the card prior to December 11, 2016.
  • Please call 1-855-622-5830 to find out your card’s available balance.
  • No loads will be accepted or applied to your card account after November 18, 2016.
  • Subject to this paragraph, any remaining funds in the account after December 11, 2016, will be sent to the address associated with your account within 30 days.

We’re sad to see Nickel go. It was a unique service that no doubt didn’t attract enough users to sustain it.