Good Habits Start Today
With Penny Bank Plus


What is Penny Bank?

Penny Bank is a reward system in a mobile app designed to teach your child good habits they will need to be successful as an adult. Penny Bank allows you to credit and pay your child with cash or free time for completing chores. Unlike our competitors you can use Penny Bank whether you want to pay your kids or not. In addition to the intuitive banking system, Penny Bank also awards your child with experience points and achievements. This gives a gaming feel that shows their progression and makes daily habits fun. Our social features allow your child to follow and share their achievements with their friends. Along with the other features, Penny Bank also provides a learning hub with fresh resources for your child to learn.


Did you know?


Real banks don't physically hold your money. Banks tend to keep only enough cash on hand to meet their anticipated transaction needs. The concept of "Penny Banking" is based off an earned value that only needs to be available at the time of withdrawal.

The Penny Bank Theory

Father and Child

If you were to ask Team Penny Bank a year ago what our core mission was it would have been hands down financial literacy. After feedback and much research in the Penny Bank Labs we have found that there are already solutions on the market that can help with this. Instead of being another "pay your child with their own debit card" app we found the problem we want to solve is with the concept of habits. The "Penny" in Penny Bank actually stands for The Compound Effect. We belive small consistent actions add up to a big pay off over time. One of the biggest assets a child has is their time. We built an intuive system to manage and award free time in exchange for them handling their responsibilities. Surprisingly kids are more interested in things over money and this also includes things they enjoy doing with their free time as well. Our cash or time banking system credits them with those rewards teaching a duality of financial literacy and time management. It ultimately teaches your child good habits today that will carry over in the real world tomorrow.

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Developed By Real People and Parents


We would love to hear your feedback!


Leave your email and we will reach out to you to join our Parents for Penny Bank focus group. We are building a community of parents to share tips and feedback to help us continously build a better experience with Penny Bank.

Penny Bank Plus

Features and Benefits


As of now we have dropped Penny Bank in favor of Penny Bank Plus. We want to maintain our integrity with your data by providing you an ad-free experience. Penny Bank Plus comes with a 30 day free trial and is on sale for $2.99/month (normally $3.99).

Want to Learn More?

Check out our frequently asked questions (FAQ)


Penny Bank is designed for families with children 13 or younger (old enough to use a device). Although there are plenty of uses cases we are working on future features that cater to teenagers.

Penny Bank was our flagship product considered to be a lite version of Penny Bank Plus. At the current moment, we have switched fully over to Penny Bank Plus. Penny Bank and Penny Bank Plus are both made by Team Penny Bank

I'm glad you asked. Penny Bank accounts are free. Signing up gives you access to a Penny Bank account which can be used to access the web app and with future products as well. Penny Bank Plus mobile app is free to download in the app stores. The only cost is a small membership fee to access Penny Bank Plus mobile app. The web app is for account services and is limited on features.

Once you have an account in order to use the mobile app you must subscribe to being a Penny Bank Plus member. You can go to the get started button in the mobile app and it will take you to account management or visit the account page in the header. You will then log in and are your options for Penny Bank Plus will be available. After you are subscribed you can sign back into the mobile app with your normal credentials.

Your account still exists from the original Penny Bank. We ask all of our legacy users to reset their passwords as this build required us to migrate to a new backend

Where you can find Team Penny Bank