Now parents can set pocket money for their child using the Junio app. They have the option to specify the amount and time period for the pocket money, which can be set on a weekly or monthly basis with a maximum amount of Rs 5000.
How to set Pocket money
Parents need to navigate to the Add money option on the home page. Here, parent need to select the specific child for whom they wish to set up pocket money.
Next, parents have to enter the desired amount and then at the bottom they need to select the frequency.
Now parent should proceed to verify the details. After this, they need to make the first payment. Following this initial payment, the specified amount will be automatically credited to the child’s card based on the selected frequency.
More about Pocket Money
Only parents will have the option to set pocket money.
The UPI app must be installed on the same device in which the Junio app is installed and UPI is the only available payment option.
Once the pocket money setup is completed, parents can edit it. However, they cannot cancel the pocket money at any time.
Also, there will be no cashback on pocket money.