Virtual Piggy Review: A New Spending & Savings Tool for Children

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Virtual Piggy is a new online tool that helps children save, spend & give, responsibly.

OK, maybe you’re thinking that I’m whack-o right about now, but let’s be serious.  Online spending and banking isn’t the wave of the future, it’s already happening.  In addition to giving your children a safe, secure, online shopping experience, Virtual Piggy also helps address some age-old financial responsibilities through an online dashboard that tracks savings.

Here’s a quick overview of how it works:

  • A parent registers their account, providing information such as their preferred credit card for future purchases, and a shipping address.
  • Then, the parent can create accounts for each of their children and establish detailed parental controls (such as approved merchants, transaction limits, levels of transaction approvals).
  • Because financial and shipping information is stored in the parent account, the child never has access to it.
  • The child is then able to check out at Virtual Piggy merchants, using only their username and password.

I think this is just great, especially considering that we are right in the middle of holiday gift-giving season!  Children can easily shop online (just like mom & dad!), under parental controls.  Much better than letting them loose in a mall full of strangers!

As a parent you can give approve or disapprove any of the Virtual Piggy merchants.

Children can shop at any of the merchants that accept the Virtual Piggy payment system or through shop.VirtualPiggy.com where kids can buy gift cards that can be used offline.  Because the child only needs their Virtual Piggy their username and password to checkout, they never use your credit card, or provide personal information like their name, age, birthdate, contact information or home address. Virtual Piggy is also a certified licensee of the TRUSTe® Children’s Privacy Program, which has been approved by the Federal Trade Commission as an authorized safe harbor under the Children’s Online Privacy Protection Rule.

Another fun tool available is the “Wish List” feature.  With this, your child can add items he would like, so he can set proper savings goals.  As a parent, you can view your child’s wishlist and share it with grandparents too (great for holiday gift-giving!).  You can have a lot of fun with this little tool and now is the perfect time to get familiar with it because Virtual Piggy is holding the “Win Your Wishlist” sweepstakes!

To celebrate the holidays, Virtial Piggy will randomly select ten children to win the contents of their Wishlist (up to a value of $500). Families can gain extra entries by sharing Win Your Wishlist on social media, and getting friends to register and join.

Win Your Wishlist starts on November 12th, ending on December 14th. Please visit www.virtualpiggy.com/wishlist to see more.

In addition to offering one of the safest online shopping experiences for kids and parents and the sweepstakes, Virtual Piggy is also offering the Member Value Program this holiday season.  Through this program (no extra fee for this), Virtual Piggy is offering some very nice discounts at family-friendly online merchants such as K’nex (20% off), KidsCom.com (50% off) and Playdin ($5.00 off).  You can see all of the great offers here.

Becoming a Virtual Piggy member is easy and free.  It only took about 5 minutes for me to create a parent account and one child account.  I look forward to giving my daughter the freedom to shop online, knowing that not only is it about as secure as it can be, but we can use the Virtual Piggy tools to help her become more financially responsible.

 

This is a sponsored post from Splash Creative Media on behalf of Virtual Piggy. All opinions are my own.

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