Setting up an allowance for your teen will create a scheduled, recurring transfer to them daily, weekly, bi-weekly or monthly. You can set these up from the home screen on the Current app after you log in by following the steps below:
- View your accounts and tap the teen that you'd like to set up an allowance for
- Scroll to the bottom of the home screen and tap Allowance
- Tap Setup Allowance
- Choose an amount and a funding source for the allowance
- Set a start date for your allowance to begin on, either today or in the future.
- Note: If you choose an ACH funding source the allowance will initiate a deposit on the date you choose, the settlement of the deposit will depend on ACH timing and your external bank.
- Select a frequency for the allowance. You can choose Daily, Weekly, Bi-weekly, or Monthly
- Review your choices and tap Confirm
How do I cancel an allowance?
You can follow the steps below to change or cancel your teen's allowance:
- Select a teen from the home screen
- Tap Allowance
- Tap Cancel Allowance at the bottom of the screen
Note: You can cancel an existing allowance and create a new one if you'd like to edit the amount that your teen receives.