Modakmakers.com Reviews

Based on checking the website, Modakmakers.com appears to be a financial technology platform designed for families, offering a money app and a Visa® Debit Card primarily for kids and teens.

The core promise revolves around making family banking easy and accessible, with features aimed at teaching financial literacy, managing chores and allowance, and fostering good saving habits.

While the platform aims to empower young individuals with financial tools, it’s crucial to understand the underlying mechanisms, especially regarding the use of debit and credit cards, and to prioritize ethical and permissible financial practices in line with one’s values.

This review will delve into the various facets of Modakmakers.com, examining its functionalities, purported benefits, and potential areas of concern from a user’s perspective, emphasizing the importance of informed decisions in financial matters for families.

We’ll explore the features presented on their homepage, assess their transparency regarding fees, and consider alternatives that align with responsible financial behavior and avoid impermissible elements like interest-based transactions.

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Modakmakers.com Review & First Look

Upon initial review, Modakmakers.com presents itself as a modern solution for parents looking to introduce their children to financial management. The website is clean, user-friendly, and emphasizes simplicity and safety. It prominently displays a “4.8 APP STORE RATING” and highlights key benefits like “NO MONTHLY FEES*” and “NO MINIMUM DEPOSITS*.” This immediate impression suggests a service designed to be accessible and straightforward, which can be appealing to busy parents.

Initial Impressions of the Platform’s Design and Promise

The design is visually appealing, utilizing bright colors and clear calls to action like “Get started.” The language used is positive and empowering, suggesting that Modak can help kids “manage money way better” and learn “good habits.” The promise of “Family Banking Made Easy” is central to their messaging, positioning the service as a comprehensive tool for financial education within the household.

They also emphasize “24/7 CUSTOMER SUPPORT,” which is a strong point for a financial service.

Understanding the Target Audience: Kids, Teens, and Parents

Modakmakers.com clearly targets parents who want to give their children financial independence while maintaining oversight.

The platform is designed for “kids & teens,” implying a focus on ages where financial literacy is beginning to develop. Munbyn.com Reviews

Parents are presented as the account holders, with control over spending and the ability to manage allowances and chores.

This dual-user approach — empowering kids with a card while giving parents control — is a key selling point.

Modakmakers.com Features

Modakmakers.com boasts a range of features aimed at streamlining financial management for families and fostering financial literacy in children.

While these features are designed to be convenient, it’s important to analyze them for their underlying financial implications and to ensure they align with ethical principles.

Chores & Allowance Management

This feature allows parents to assign and track chores, then pay allowances directly through the app. Rutlandcountygardenfurniture.co.uk Reviews

• Automated Payments: Parents can set up recurring allowance payments or pay for completed chores individually. This automation can save time and ensure consistency.
• Tracking Progress: The app helps parents monitor chore completion, fostering a sense of responsibility in children.
• Real-world Application: This directly connects effort chores to earnings allowance, providing a practical lesson in earning money.

Money Management & Funding Options

Modak simplifies how parents “top-up accounts and how kids get paid.”

• Instant Transfers: The website states, “$20 Sent to your kid In seconds · No fees” for ACH funding. This speed and lack of fees for standard transfers are significant advantages.
• Debit Card Funding: Modak charges $0.50 for debit card loads and an “extra 3% for credit cards and Apple/Google Pay.” This 3% fee on credit card loads is a concern as it resembles an interest-like charge, which should be avoided. It’s crucial for users to stick to the free ACH funding option to avoid this additional charge.
• Parental Control: Parents have direct control over funding and can monitor their children’s spending in real-time.

Good Habits, Gamified & Rewards

Modak aims to encourage good habits through gamification.

• Earning Rewards MBX: “Kids earn rewards from learning, easily turned into dollars to spend with their Modak Debit Card.” The website mentions an “MBX Rewards Program” where customers can earn MBX through “eligible activities such as completing challenges, using the walking feature, or making purchases.”
• Redemption Threshold: A minimum balance of 100 MBX approximately $1.00 USD as of October 2024 is required for redemption.
• Non-Interest Bearing: It’s important to note that this program “does not accrue interest and 0.00% Annual Percentage Yield APY applies.” This is a positive aspect, as it avoids interest-based earnings.
• Educational Focus: The concept of rewarding learning activities is commendable, promoting knowledge acquisition as a valuable endeavor.

Savings Goals & Financial Education

The platform helps kids “save for their goals, from buying a book to funding their college education.”

• Goal Setting: Children can set specific savings goals within the app.
• Progress Tracking: The app allows them to track their progress towards these goals.
• No Interest on Savings: The website explicitly states, “The savings goals feature is intended to assist you in planning and tracking your savings progress. It does not imply or guarantee any interest earning.” This is a key point: these savings accounts are for tracking purposes and do not involve interest, which is important for ethical financial practices.

Visa® Debit Card & Spending Controls

Each child gets their own Visa® Debit Card.

• Free Shipping: The card is shipped at “no cost after the launch.”
• Global Acceptance: “Can be used anywhere Visa® is accepted, both in-store and online.”
• Contactless Payments: Compatible with Apple Pay & Google Pay.
• Real-time Notifications: Parents receive “real-time notifications on purchases,” enabling immediate oversight.
• Parental Controls: Parents can “easily lock and unlock your kid’s card, ensuring you have control over their spending.” This is a vital security and control feature.

Modakmakers.com Pros & Cons

Understanding the advantages and disadvantages of Modakmakers.com is crucial for making an informed decision. Dyson.com.tr Reviews

While the platform offers several benefits, especially for financial education, certain aspects, particularly regarding fees and specific funding methods, warrant careful consideration.

Key Advantages for Families and Kids

Modakmakers.com presents a compelling case for modern family banking.

• Financial Literacy Focus: The platform is strongly geared towards teaching children about money management, saving, and earning through chores. This practical approach to financial education is a significant plus.
• Parental Oversight and Control: Features like real-time spending notifications, the ability to lock/unlock cards, and managing allowances provide parents with robust control over their children’s finances.
• User-Friendly Interface: The app and website are designed to be intuitive and easy to navigate for both parents and children, which can encourage consistent use.
• No Monthly Fees for Core Services: The “no monthly fees” promise for core offerings is attractive, making it an affordable option for many families. This allows users to avoid recurring charges, which can accumulate over time.
• Gamified Learning: The MBX rewards program, linked to learning and activities, makes financial education engaging for kids. The fact that it doesn’t accrue interest is a key benefit.
• FDIC-Insured Accounts: Funds are deposited into accounts that “may be eligible for up to $250,000 of FDIC insurance,” providing a layer of security for deposited funds. This is a standard and important protection for banking services.

Potential Concerns and Areas for Caution

Despite its benefits, there are aspects of Modakmakers.com that users should approach with caution.

• Fees for Expedited/Premium Services and Credit Card Loads: While core services are free, the website notes that “fees for expedited or premium services may apply.” More importantly, there’s a $0.50 fee for debit card loads and a 3% extra charge for credit cards and Apple/Google Pay when loading a kid’s Modak card. This 3% charge on credit card loads is a significant concern from an ethical financial perspective, as it resembles interest riba. Users should strictly avoid using credit cards or Apple/Google Pay for funding to avoid this fee. The preferred method should be the free ACH funding via other bank accounts.
• Reliance on Debit/Credit Card Systems: While aiming to teach financial responsibility, the core mechanism involves a Visa® Debit Card, which inherently connects users to the conventional banking system that often involves interest-based products elsewhere. While Modak itself states its savings feature does not imply interest, the broader financial ecosystem it operates within relies on such principles. It’s important to teach children about permissible alternatives and the impermissibility of interest-based transactions.
• Potential for Overspending with a Debit Card: While parental controls exist, having a debit card might still encourage spending if not properly managed. Parents need to actively educate their children on responsible spending habits and budgeting, even with the controls in place.
• “MBX” Reward Value Fluctuations: While the MBX program is non-interest bearing, its value is subject to change. The website states, “the value is subject to change and not guaranteed.” This means the perceived value of rewards might fluctuate, which is something to be aware of.
• Focus on Consumption: While the card is for spending, the emphasis should be on disciplined spending, needs over wants, and charitable giving, rather than just facilitating purchases.

Modakmakers.com Alternatives

Given the concerns surrounding certain fee structures and the broader context of conventional financial systems, exploring alternatives to Modakmakers.com that align more closely with ethical financial principles is important.

The goal should be to teach financial literacy without relying on interest-based transactions or encouraging excessive consumption. Legiano.com Reviews

Ethical & Permissible Financial Education Methods

Instead of relying solely on digital platforms, families can implement hands-on methods for financial education.

• Cash-Based Allowance System: A simple, direct approach where children receive physical cash for chores or allowance. This teaches tangible money management, counting, and the value of physical currency. It completely avoids any digital fees or interest concerns.
• Transparent “Savings Jars”: Use clear jars labeled “Spend,” “Save,” and “Give.” This visually demonstrates budgeting and the importance of charity. Children can physically see their money grow in each jar.
• Family Budgeting Discussions: Involve children in family financial discussions about expenses, income, and saving for larger goals. This demystifies money and teaches them about real-world financial planning.
• Micro-Entrepreneurship Projects: Encourage children to earn money through small, permissible ventures like selling handmade crafts, providing simple services, or growing produce. This teaches them about earning, managing resources, and understanding market value without external financial platforms.

Halal-Compliant Financial Tools for Families

While direct alternatives specifically for children’s debit cards that are explicitly “halal” are still developing, focusing on the principles is key.

• Halal Checking Accounts for Parents: Parents can open regular checking accounts at ethical banks that explicitly state they are not involved in interest-based lending or investments. Funds can then be transferred to children using cash or internal bank transfers, avoiding external card-loading fees.
• Takaful Islamic Insurance for Savings: For long-term savings goals like college education, parents can explore Takaful products, which are based on mutual cooperation and risk-sharing, avoiding conventional interest-based insurance.
• Investment in Permissible Assets: As children grow, parents can educate them about investing in halal stocks, real estate, or ethical businesses, avoiding interest-bearing bonds or impermissible industries.
• Barter and Exchange: Teach children the value of skills and services through bartering or exchanging goods, highlighting alternative economic models that don’t rely solely on monetary transactions.

Broader Financial Literacy Resources

Supplementing practical methods with educational resources is invaluable.

• Books on Islamic Finance for Youth: Introduce age-appropriate books that explain financial concepts from an Islamic perspective, emphasizing ethical earning, spending, and giving.
• Community Workshops: Look for local community centers or mosques that offer workshops on financial literacy, budgeting, and Islamic finance for families.
• Role-Playing Games: Create scenarios at home that involve budgeting, saving, and making financial decisions, allowing children to learn in a safe, interactive environment.

How to Cancel Modakmakers.com Subscription

While Modakmakers.com states that its core offerings are free, understanding how to manage or cancel any premium services or accounts is essential.

Based on typical financial app practices, the cancellation process would likely involve a few straightforward steps within the application itself. Swiftheatingltd.co.uk Reviews

Steps to Discontinue Modakmakers.com Services

To cancel your Modakmakers.com account or any associated premium services, you would typically follow these steps:

1. Log In to Your Account: Access your Modakmakers.com account through their mobile app or website.
2. Navigate to Account Settings: Look for a “Settings,” “Profile,” or “Account Management” section within the app’s menu.
3. Find Subscription/Account Options: Within settings, there should be an option related to your subscription, plan, or account details. This is where you would typically find options to manage or cancel your service.
4. Initiate Cancellation: Follow the prompts to cancel your account or specific premium features. Be sure to read any confirmation messages carefully.
5. Contact Customer Support: If you encounter any difficulties or cannot find the cancellation option, contact Modakmakers.com customer support directly. Their website mentions “24/7 Customer Support” via chat. It’s advisable to do this during business hours if you require Spanish support, as indicated on their site.
6. Confirm Card Deactivation: Ensure that your child’s Visa® Debit Card is deactivated and any remaining funds are properly handled according to Modakmakers.com’s policies. You may need to transfer any balance out before closing the account.

Important Considerations Before Cancellation

Before canceling, consider these points:

• Balance Withdrawal: Ensure all funds from your child’s Modak account are withdrawn or transferred to another permissible account before initiating cancellation.
• Data Retention: Inquire about Modakmakers.com’s data retention policies to understand how long your personal and financial data will be stored after account closure.
• Financial Records: Download any necessary financial statements or transaction histories for your records before closing the account. This can be important for personal budgeting or future reference.

How to Cancel Modakmakers.com Free Trial

Modakmakers.com explicitly states “No monthly fees*, No minimum deposits*” for its core offerings, implying that a traditional “free trial” for a paid subscription might not be the primary model for their basic service. However, if they were to introduce premium features with a trial period, the cancellation process would be similar to managing any subscription.

Managing a Potential Trial of Premium Features

If Modakmakers.com introduces premium features that come with a trial, here’s how you’d manage it:

1. Identify Trial End Date: Be aware of the trial period’s start and end dates. Mark it on your calendar to avoid unintended charges.
2. Review Premium Features: During the trial, thoroughly evaluate if the premium features provide sufficient value to justify a recurring payment.
3. Access Subscription Management: Similar to general cancellation, navigate to your account settings within the Modakmakers.com app or website.
4. Locate Trial Options: Look for a section specifically related to your “subscription,” “plan,” or “premium features,” where you can view your current trial status.
5. Cancel Before Charging: Ensure you cancel the trial before the billing date to avoid any charges. The system should typically provide a clear option to “Cancel Trial” or “Manage Subscription.”
6. Confirmation: Always look for a confirmation message or email indicating that your trial has been successfully canceled.

Preventing Unintended Charges

To prevent any unwanted charges, proactive steps are key: Toppdf.co Reviews

• Read Terms Carefully: Before signing up for any premium feature trial, read the terms and conditions thoroughly to understand the billing cycle and cancellation policy.
• Set Reminders: Use your phone’s calendar or a reminder app to notify you a few days before the trial ends, giving you ample time to decide and act.
• Use Free Services First: If possible, utilize the core free services of Modakmakers.com extensively before considering any premium upgrades, to ensure the platform genuinely meets your family’s needs.

Modakmakers.com Pricing

Modakmakers.com clearly positions itself as an accessible financial tool by emphasizing its “no monthly fees” for core services.

However, a deeper dive into their fee structure reveals specific charges for certain transactions and premium offerings, which users must be aware of to manage their finances responsibly.

Understanding the “No Monthly Fees” Claim

The prominent declaration of “$0 NO MONTHLY FEES*, NO MINIMUM DEPOSITS*” is a significant draw. This means that users can open and maintain a basic Modak account and obtain a Visa® Debit Card for their children without incurring recurring subscription costs. This is beneficial as it removes a common barrier to entry for financial services.

Detailed Breakdown of Transaction Fees

While core services are free, certain transactions incur fees:

• Debit Card Loading Fee: Modak charges “$0.50 for debit cards” when you load your kid’s Modak card using your debit card.
• Credit Card and Apple/Google Pay Loading Fee: There is a “3% extra for credit cards and Apple/Google Pay” when you load your kid’s Modak card with your credit card or through these digital wallets. This 3% charge is a critical point of concern. As discussed, this resembles an interest-like charge riba and should be avoided.
• ACH Funding: The website explicitly states, “our normal ACH – funding via your other bank accounts – is free.” This is the recommended method for funding to avoid all loading fees.
• Expedited/Premium Services Fees: The website notes, “if you need expedited or premium services, our app will show you and ask for your permission before charging the fees.” Examples of such services might include expedited card shipping or advanced reporting features. Users should always review these charges before agreeing to them.

Comparing Value: Free Core vs. Charged Extras

The pricing model aims to make the basic service widely available, with fees primarily applied to convenience features or premium add-ons. Manorfarmwools.co.uk Reviews

• High Value in Free Core: The ability to manage chores, allowance, and basic spending for free is valuable for teaching financial responsibility. The non-interest-bearing MBX rewards program also adds value without ethical financial concerns.
• Costly Convenience: The 3% fee on credit card loads is disproportionately high for a simple transaction and directly goes against ethical financial principles. A $100 load via credit card would cost $3, which adds up quickly. This makes the free ACH option the only permissible choice.
• Transparency: Modakmakers.com states that the app “will show you and ask for your permission before charging the fees.” This level of transparency is important, as it gives users control over incurring charges.

Modakmakers.com vs. Greenlight

When exploring financial management tools for children, Modakmakers.com and Greenlight are two prominent players that often come up in comparison.

Both offer debit cards for kids and apps for parental control, but they have distinct differences in their pricing models, features, and overall approach.

Feature Comparison: Modakmakers.com

• Core Free Offering: Modakmakers.com stands out with its “no monthly fees” for basic services, including the debit card and core app features like chore management and allowance. This is a significant advantage for budget-conscious families.
• Funding Fees: While core services are free, Modak charges fees for certain funding methods: $0.50 for debit card loads and 3% for credit card/Apple/Google Pay loads. The 3% credit card fee is a major concern due to its resemblance to interest riba, making it a non-permissible option for funding. Free ACH transfers are available.
• Gamified Rewards MBX: Modak offers a non-interest-bearing rewards program MBX for learning and activities, which can be converted to dollars. This provides an ethical incentive for good habits.
• FDIC Insurance: Funds are FDIC-insured up to $250,000 through partner banks.
• Parental Control: Strong parental controls for locking/unlocking cards and real-time spending notifications are standard.

Feature Comparison: Greenlight

Greenlight operates on a tiered subscription model, meaning there is always a monthly fee for its services.

• Subscription Tiers:
  • Greenlight Core $4.99/month: Includes debit card, basic financial education tools, chore management, and allowance.
  • Greenlight + Invest $7.98/month: Adds investing features for kids with parental approval, and cash back rewards.
  • Greenlight Max $9.98/month: Includes all features plus protection plans cell phone, purchase, identity theft and priority customer support.
• No Direct Funding Fees typically: Unlike Modak, Greenlight generally does not charge fees for loading funds via debit card or ACH, as these costs are covered by the monthly subscription. However, users should always verify the latest terms as policies can change.
• Investing Features: Greenlight’s higher tiers offer investing features, which can be beneficial for older children to learn about the stock market. However, parents must ensure that any investments made are in Sharia-compliant companies avoiding industries like alcohol, gambling, interest-based finance, etc.. This requires careful due diligence.
• Savings Interest: Greenlight offers “1-5% interest” on savings, depending on the tier and balance. This is a significant concern as it involves earning interest riba, which is impermissible. This feature alone would make Greenlight a problematic choice for those adhering to ethical financial principles.
• FDIC Insurance: Like Modak, Greenlight also offers FDIC insurance for deposited funds.

Key Differences and Ethical Considerations

• Pricing Model: Modak offers a free core service with specific transaction fees, while Greenlight is subscription-based. Modak’s free core offering is appealing, but its 3% credit card loading fee is ethically problematic. Greenlight’s consistent monthly fees are a cost, but its interest-earning savings feature a major concern makes it potentially impermissible.
• Interest Riba: This is the most crucial differentiator from an ethical standpoint. Greenlight’s feature of paying interest on savings directly involves Riba, making it an impermissible option. Modak explicitly states its savings goals feature “does not imply or guarantee any interest earning” and its MBX rewards program “does not accrue interest,” which is a significant advantage in terms of ethical compliance, provided users strictly avoid the 3% credit card loading fee.
• Investing Greenlight: While offering an educational opportunity, the investing feature in Greenlight requires diligent parental supervision to ensure only Sharia-compliant investments are made.
• Funding Fees Modak: The 3% credit card loading fee on Modak is a direct financial and ethical drawback. Users must commit to using the free ACH transfer option.

Conclusion on Comparison: For families prioritizing ethical financial practices, Modakmakers.com, despite its 3% credit card loading fee which must be avoided, presents a more ethically sound core offering due to its explicit non-interest-bearing savings and rewards. Greenlight’s interest-earning savings feature makes it a less suitable option for those adhering to Islamic financial principles. The best approach for both would be to utilize only the permissible aspects and supplement with direct, cash-based financial education.

Security and Privacy on Modakmakers.com

Modakmakers.com addresses these concerns by outlining several measures on its website. Connectfunds.com Reviews

Understanding these protocols is vital for user trust.

Data Encryption and Access Controls

Modakmakers.com emphasizes robust security practices:

• Encryption: “All sensitive information is encrypted in transit standard protocols.” This means that data exchanged between your device and Modak’s servers is scrambled, making it unreadable to unauthorized parties. This is a standard and essential security measure for any online financial service.
• Access Controls: “Access to sensitive information is restricted to a limited number of authorized personnel, who are subject to background checks and ongoing security monitoring.” This internal control limits who within Modak can view or handle sensitive user data, adding another layer of protection against internal misuse or breaches.

Compliance and Parental Controls

Modakmakers.com also highlights its adherence to regulations and offers practical controls for parents:

• Regulatory Compliance: “Modak adheres to relevant security and privacy regulations, including those imposed by the Consumer Financial Protection Bureau CFPB, to ensure that sensitive information is handled in a manner that meets the highest standards of security and privacy.” Compliance with federal regulations like those from the CFPB is a strong indicator of a company’s commitment to consumer protection and data privacy.
• Parental Card Controls: “You can easily lock and unlock your kid’s card, ensuring you have control over their spending.” This real-time control feature not only helps manage spending but also acts as a security measure in case the card is lost or stolen.
• Biometric Security: “At Modak, we prioritize your security with features like fingerprint and facial recognition for app access.” Biometric authentication adds a convenient yet strong layer of security, making it harder for unauthorized individuals to access the app even if they have the login credentials.

FDIC Insurance and Financial Institution Backing

While Modak is a financial technology company, it partners with FDIC-insured institutions:

• Partner Banks: “Checking account and the Modak Visa® debit card issued by Lewis & Clark Bank, Member FDIC. Deposit account and the Modak Visa® debit card issued by Legend Bank, N.A., FDIC-Insured.” This means that the actual funds deposited into Modak accounts are held by legitimate, regulated banks and are insured by the Federal Deposit Insurance Corporation FDIC up to $250,000 per depositor. This protects users in the unlikely event of the partner bank’s failure.
• Modak as a FinTech Company: It’s important to note their disclaimer: “Modak is a financial technology company and not a FDIC insured financial institution.” This clarifies that Modak provides the technology and interface, while the banking services and FDIC insurance are provided by their partner banks. This is a common model in the FinTech industry.

Overall, Modakmakers.com appears to implement a robust set of security and privacy measures, from data encryption to regulatory compliance and user-level controls. Babymoov.co.uk Reviews

The backing of FDIC-insured banks adds a critical layer of financial security, which is paramount for any service handling sensitive monetary assets.

User Testimonials and Customer Support

User testimonials and the quality of customer support are often strong indicators of a company’s reliability and user satisfaction.

Modakmakers.com features several testimonials on its homepage and highlights its commitment to customer service.

Analysis of User Testimonials

Modakmakers.com prominently displays customer reviews, primarily from the App Store, noting a “4.8 App Store Rating Based on thousands of reviews as of April 15th, 2025.”

• Positive Sentiment: The testimonials shared on the site are overwhelmingly positive, praising the ease of use, the convenience of transferring money, and the effectiveness of chore/task management features.
  • “My son loves his debit card and it’s easy to transfer money to his card and it’s real easy to work and use to set task for your kids to earn money. Also customer service is fast and very helpful.” – Tasha W.
  • “Great fast customer service, love this card for my daughter way better than any other loaded card out there” – Aiko W.
  • “I’m an 11-year-old kid and I love this app helps me manage my money way better and my mom didn’t trust me before this app. Thank you, Modak.” – Taylor K. This testimonial is particularly impactful as it comes directly from a young user, highlighting the app’s appeal to children.
• Key Themes: The reviews consistently highlight:
  • Ease of Money Transfer: Parents find it simple to add funds to their children’s cards.
  • Effective Chore Management: The task-setting feature is appreciated.
  • Positive Impact on Kids: Children feel empowered and learn to manage money.
  • Responsive Customer Service: Several users commend the speed and helpfulness of support.
• Limitations of On-Site Testimonials: While positive, it’s important to remember that companies typically curate testimonials for their website. For a more comprehensive view, one might seek reviews from independent platforms beyond their direct site. However, a 4.8 App Store rating based on “thousands of reviews” provides a strong external validation.

Customer Support Accessibility and Quality

Modakmakers.com emphasizes its customer support: Thefragrancecabinet.co.uk Reviews

• 24/7 Availability: “24/7 Customer Support Chat with real people.” This is a significant advantage for financial services, as issues can arise at any time.
• Multilingual Support: “Also available in Spanish during business hours.” Offering support in multiple languages broadens accessibility and caters to a diverse user base.
• Direct Interaction: The emphasis on “real people” suggests a focus on personalized support rather than relying solely on chatbots. The positive mentions in testimonials regarding customer service further reinforce this claim.

Overall, the user testimonials suggest a high level of satisfaction, particularly concerning ease of use and effective features for financial education.

The commitment to 24/7 and multilingual customer support indicates a strong focus on user assistance, which is critical for a service handling financial transactions for families.

Frequently Asked Questions

What is Modakmakers.com?

Modakmakers.com is a financial technology platform that offers a money app and a Visa® Debit Card designed for kids and teens, with parental controls, to help families manage allowances, chores, and teach financial literacy.

Is Modakmakers.com free to use?

Yes, Modakmakers.com offers its core services with “no monthly fees” and “no minimum deposits.” However, there are fees for certain expedited or premium services, and specific charges for loading funds via debit cards or credit cards.

Are there any fees for loading money onto the Modak card?

Yes, there is a $0.50 fee for loading funds using a debit card, and a 3% extra fee for loading funds using credit cards, Apple Pay, or Google Pay. Funding via ACH Automated Clearing House from your other bank accounts is free. Empirelawgroup.com Reviews

Does Modakmakers.com charge interest on savings?

No, Modakmakers.com explicitly states that its savings goals feature “does not imply or guarantee any interest earning.” Its MBX rewards program also “does not accrue interest.” This is a positive aspect for ethical financial practices.

Is Modakmakers.com FDIC insured?

Yes, funds deposited into a Modak account are held by partner banks Lewis & Clark Bank, Member FDIC, and Legend Bank, N.A., FDIC-Insured and may be eligible for up to $250,000 of FDIC insurance.

How old do you have to be to use Modakmakers.com?

To sign up, individuals should be below 18 years old.

A parent or guardian will be the primary account holder, allowing the minor to use the card and app.

Can I link my existing bank account to Modakmakers.com?

Yes, you can link your other bank accounts to Modakmakers.com for free ACH transfers to fund your child’s Modak card. Yourtiles.com Reviews

Can the Modak Visa® Debit Card be used anywhere?

Yes, the Modak Visa® Debit Card can be used anywhere Visa® is accepted, both in-store and online.

Does Modakmakers.com offer parental controls?

Yes, parents have extensive control, including real-time notifications on purchases, the ability to lock and unlock their kid’s card, and managing chores and allowance.

How does Modakmakers.com help teach kids about money?

Modakmakers.com facilitates financial literacy through features like chore and allowance management, goal-setting for savings, and a gamified rewards system MBX for learning and good habits.

What is the MBX rewards program?

The MBX Rewards Program allows users to earn MBX Modak Bucks through eligible activities like completing challenges or learning.

These MBX can be converted into dollars to spend with the Modak Debit Card, and the program does not accrue interest. Europcar.fr Reviews

What security measures does Modakmakers.com use?

Modakmakers.com uses data encryption, strict access controls for sensitive information, parental controls, and biometric security features fingerprint/facial recognition for app access.

They also adhere to relevant security and privacy regulations.

How can I contact Modakmakers.com customer support?

Modakmakers.com offers 24/7 customer support via chat, with Spanish support available during business hours.

Can I add the Modak card to Apple Pay or Google Pay?

Yes, you can add your Modak Visa® Debit Card virtually to Apple Pay and Google Pay for easy contactless payments, though loading funds through these methods with a credit card incurs a 3% fee.

How do I cancel my Modakmakers.com account?

You would typically cancel your Modakmakers.com account by logging into the app or website, navigating to account settings, and following the prompts to discontinue services. Joinsherpa.com Reviews

You can also contact customer support for assistance.

Is Modakmakers.com good for teaching saving habits?

Yes, Modakmakers.com offers a savings goals feature where kids can set and track their progress towards various financial goals, encouraging a habit of saving.

Does Modakmakers.com have hidden fees?

Modakmakers.com states, “There are no hidden fees associated with Modak.” They clarify that any fees for expedited or premium services will be shown and require your permission before charging.

How does Modakmakers.com compare to Greenlight?

Modakmakers.com offers a free core service with specific transaction fees e.g., 3% for credit card loads, and its savings and rewards are non-interest bearing.

Greenlight operates on a monthly subscription model $4.99-$9.98/month and offers interest on savings, which is a key ethical concern. Thorntons-law.co.uk Reviews

What are the best alternatives to Modakmakers.com for ethical financial education?

Ethical alternatives include cash-based allowance systems, transparent “savings jars,” family budgeting discussions, encouraging micro-entrepreneurship, and exploring halal-compliant financial tools for parents while focusing on direct, hands-on financial literacy.

What should I avoid when using Modakmakers.com?

You should strictly avoid using credit cards, Apple Pay, or Google Pay to load funds onto the Modak card, as these methods incur a 3% fee which resembles interest riba. Always opt for the free ACH transfer option from your bank account to remain ethically compliant.