Modak Makers review: Is the money and banking app worth it for families?

Modak Makers is a money app built for kids and teens under 18. It comes with a Visa® debit card and gives families tools to start building smart money habits together. Parents can assign chores, set up allowances, and keep an eye on spending, while kids get to set savings goals and earn rewards by completing challenges. One of its biggest selling points is the lack of a monthly fee, which makes it a budget-friendly choice for families.

But does free mean it’s the best fit for your family? Let’s take a closer look.

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Pros and cons of Modak Makers

Every family has different priorities when it comes to kids’ money apps. Some families want the most educational features while others care more about price or oversight tools. Here are the pros and cons to consider before signing up.

Pros

Modak Makers is a great starting point for kids and teens who are just beginning to manage money. It’s free to use, which is a big win for families trying to stick to a budget. Parents can handle the behind-the-scenes stuff (like setting up chores and allowances) while kids get a debit card they can use to spend, save, and earn rewards through fun in-app challenges. The layout is simple, and one account can cover multiple kids, which is super helpful for bigger families.

• Debit card for kids and teens

• No monthly fees

• Gamified learning 

• Savings goals and rewards

• Real-time parental controls and notifications

• Flexible ways to fund the card

• Multi-child support

• Security features

Cons

While Modak Makers is strong on simplicity and affordability, it’s missing some features that competitors include. There’s no ATM access, which limits flexibility. And while parents can monitor activity and lock the card, the app doesn’t offer more advanced controls like spending limits by category. You also won’t find savings rewards or investing tools here, both of which could be useful for families looking to build more advanced money habits over time.

• No ATM access

• No investment or interest-earning options

• Parental controls do not allow category restrictions

• Reload fees

How does Modak Makers work?

Modak Makers is designed for joint use between parents and kids. Parents set things up by creating an account, adding their child’s info, and funding the account through a bank transfer, debit or credit card, or even a digital wallet like Apple Pay. From there, they can assign chores, set up allowances, and monitor everything from their Parent Portal, including spending activity and card controls.

Kids get their own app login and a Visa® debit card (physical and virtual). They can track their spending in real time, complete tasks, and set savings goals. The app also includes interactive challenges that reward kids with MBX points, a gamified system that lets them convert points into real cash.

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Modak Makers features

Modak Makers has several kid-friendly features designed to make learning about money feel approachable. Here’s a closer look at what the app offers.

Chores and allowance

Parents can assign chores with specific rewards and set up recurring allowances. Kids can mark chores as complete and submit proof, such as photos, for parental approval.

Savings goals

Kids can create custom savings goals and track their progress as they go. While there’s no interest earned, the visual tracker helps kids understand delayed gratification and planning.

MBX rewards

Kids earn MBX points for completing tasks, reaching goals, and even doing things like walking 5,000 steps. Points can be converted into cash and added to their debit card balance, a built-in incentive that keeps them engaged.

Safety and parental controls

Modak lets parents stay in the loop with real-time notifications, the ability to freeze or unfreeze the card, and merchant restrictions. There’s also biometric login for extra security.

How much does Modak Makers cost?

Modak doesn’t charge a monthly fee, but there are a few charges to know about:

• Reloading is $0.50 per transaction when reloading from the parent’s debit or credit card 

• Credit card or Apple/Google Pay funding incurs an extra 3% fee

ACH transfers and direct deposits are free. 

Who is Modak Makers right for?

Modak is a solid pick for families who want to teach financial habits in a fun, flexible way, without adding to their monthly bills. It’s especially useful for younger kids and tweens who are just starting to earn, save, and spend. The app’s chore system, savings goals, and reward-based challenges offer a fun, flexible way to learn real-world skills with a parent’s guidance. And since there’s no monthly fee, it’s a low-risk way to try out a kids’ money app.

Who isn’t Modak Makers right for?

If your teen needs ATM access, wants to explore investing, or is ready for interest-bearing savings, Modak might not go far enough. It’s designed for everyday learning, not advanced financial tools, so families with older or more independent teens may prefer an app with more robust features.

Best alternatives to Modak Makers

Modak Makers has its strengths, but it won’t be the right fit for every family. If you’re looking for more advanced features, rewards, or flexibility, here are a couple of apps worth considering.

Greenlight

For families looking for more than just the basics, Greenlight packs in a full suite of financial tools from investing and savings rewards to advanced safety and parental control features. It’s a paid app, but for parents who want an all-in-one experience that grows with their child, the value is hard to beat.

Greenlight is the #1 family finance and safety app, and it’s designed to support kids from their first allowance all the way to smart spending in high school.

Key features of Greenlight include: 

• A personalized debit card

• Built-in saving and giving tools

• Chores and allowance automation

• Access to Level Up™, Greenlight’s interactive financial literacy platform

• Investing for kids platform³ for kids to learn to invest in stocks and ETFs (with parental approval)

• Up to 6% on savings¹ and 1% cash back² on purchases

Greenlight also prioritizes both financial and physical safety. Premium plans come with features like: 

• Crash detection, SOS alerts, and real-time location tracking⁴

• Customizable parental controls, including category-based limits  

• Fast money transfers and real-time notifications

Plans start at $5.99/month and include up to five kids, offering a cost-effective option for families who want both money management and peace of mind in one place. See more on how Modak Makers and Greenlight compare.

FamZoo

FamZoo is a solid option for families who want full control over how money lessons are taught. Parents act as the “family bank,” funding prepaid cards and setting rules for chores, allowance, and even savings interest. There are no investing or in-app games, but the setup gives parents flexibility to customize everything.

It does take more time and involvement, though. FamZoo doesn’t include built-in education, rewards, or safety features. If you’re looking for automation, gamification, or tools that grow with your child, a more feature-rich app like Greenlight might be a better fit.

Is Modak Makers worth it for families?

Modak Makers can be a great option for families who want to teach their kids how to manage money and want to do it without paying a monthly fee. The app is easy to use and covers the basics well, from chores to spending to saving. But it’s not a perfect fit for everyone. If you need ATM access or want more detailed parental controls, you might find Modak a little too limited.

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