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Credits are generally applied on a monthly basis, during the first 5 days of the month.

Yes. The benefits extend to all teens within the parent’s family group.

Membership fees are non-refundable once billed, unless otherwise specified.

Upon cancellation:

• Cashback and savings boosts will no longer accrue.
• Fee waivers and free card benefits will no longer apply.
• Access to Mogold perks continues until the end of the billing period.

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Yes. The membership can be canceled at any time. Benefits typically remain active until the end of the current billing cycle.

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Parents can subscribe directly through the Modak app by navigating to the Membership or Premium Features section and following the enrollment steps or by referring friends or family.See our MoGold Referral Terms and Conditions.

Yes. Mogold members can request a parent physical card at no additional cost. Outside of Mogold membership the card costs $5

Parents who fund their Modak account using a debit or credit card will have associated processing fees waived up to a total of $25. Once this limit is reached, standard fees will apply.

Any applicable limits or caps will be defined by Modak’s internal policy. If no cap is specified, agents should communicate that standard program terms apply.

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The 4% boost is applied to:

• Funds held in teen savings goals.

Funds held in the parent’s balance. The boost is typically calculated periodically (e.g., monthly). Specific calculation details should follow internal guidelines. See our Modak rewards boost Terms

Cashback applies to eligible purchases made with the teen’s Modak card. Certain transactions, such as ATM withdrawals, peer-to-peer transfers, or refunds, may be excluded.

The parent account holder subscribes to Mogold, and the benefits extend to both the parent and the teen(s) within the family group.

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The membership costs $5.99 per month.

Mogold is Modak’s premium membership that provides exclusive financial benefits and enhanced features for families.

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There are no hidden fees associated with Modak. We don't charge for opening a card and most of our services. However, if you need expedited or premium services, our app will show you and ask for your permission before charging the fees. For example, we charge $0.50 for debit cards (and 3% extra for credit cards and Apple/Google Pay) when you load your kid’s modak card with your debit or credit cards. Do note that our normal ACH - funding via your other bank accounts - is free.

1. Log in to the Modak app using your credentials.
2. Tap on the Banking section from the home screen.
3. Look for and tap the “Request” button.
4. Choose who you want to request from — either your parent or someone else.
5. Enter the amount you want to request.
6. Tap “Create Payment Link.”
7. Once the link is created, you can:
   
   1. Tap “Copy” to share it through any messaging app
   2. Or tap “Share” to send it directly
      
      
8. Want to use a QR code instead? Tap “Your QR” to show your personal payment QR.
   
   1. You can let them scan it or save it to send later.

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• Parent app 
  • Sign in to your Modak account using your login credentials.
  • Click on your kid’s profile and select the card icon.
  • Select either your virtual or physical card
    
    
• Kids app 
  • Sign in using your login credentials.
  • Click on the “cards” section in the bottom middle (Card Icon) 
  • Select either your virtual or physical card

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Modak blocks unsafe spending categories, offers real-time transaction tracking and monitoring, and allows instant card lock/unlock. Data is encrypted and secured with biometrics. Modak complies with CFPB regulations to ensure high security and privacy standards. Moreover, your checking accounts and debit cards are issued by Legend Bank, N.A., FDIC-Insured.

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A MoCard is a card through which you can spend your money, and earn/spend rewards points (Mobucks) for healthy behaviors. Parents can fund the MoCard account, and these funds can be used to set limits on the spendings. This means parents have the ability to guide and monitor their teen's spending while teaching them financial responsibility.

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Modak is a US-based platform leveraging the power of fintech, gamification, and community to empower kids to reach their full potential. We are founded with an audacious vision to enable kids and young adults to reach their full potential, regardless of their background. We pursue this mission by offering a gamified fintech and learning ecosystem - with teen cards, financial literacy, and other services. We build for scale and security using the best technologies and enrich the user experience with a thriving community that supports each other. Modak is trusted by over 30,000 families and growing by the day. We are one of the most well-funded early-stage startups, and we are grateful for the 5+ years of runway we have even in this market. Our investors include GGV Capital ($9.2Billion VC firm), Monashees, Maya Capital, Nazca VC, One VC, and 30+ leading angel investors and entrepreneurs across Silicon Valley and Latin America.