Mydoh gives parents everything they need to make raising money-smart kids easier
RBC Ventures has developed Mydoh, a money management app and Smart Card that helps kids make their own earning and spending decisions.
The Mydoh app is available on iOS and Android devices across Canada, and is offered and operated by Royal Bank of Canada. While backed by the security and trust of RBC, Mydoh is also available to customers of other Canadian banks.
Using advanced digital ID verification, Mydoh allows parents to securely sign-up in less than 5 minutes. Parents then invite their kids to create their own personalized account on the platform to access a digital Visa Prepaid card upon sign-up. Afterward, they receive a physical Visa Prepaid card. Parents can lock and unlock their child’s card at any time.
The physical Visa Prepaid card only bears the holder’s name and expiry date on it but does not include the card number or other credentials.
The card credentials are only available in the Mydoh app.
We’ve reported that Apple introduced NFC student IDs in Canada.