What is Wallit™?
Wallit is a cash back digital wallet that instantly pays cash back for spending on a debit card whenever people shop, dine, and travel.
Plus, the smart debit wallet app automates and rewards many of the manual and time-consuming activities consumers do today, such as savings, budgeting, and balancing a checkbook.
How does Wallit work?
Simply and securely connect your checking account to link your debit card.
Wallit’s real-time budgeting can detect recurring expenses to help you budget instantly and plan ahead. Wallit shows you how much you can spend by subtracting upcoming expenses from your current bank balance.
Next, use your existing debit card and start getting paid cash back for your purchases. No collecting points. No clipping coupons. No scanning receipts. Just cash. Wallit instantly pays you cash back for your everyday spending.
For Parents with school-age kids, they can also link their teen’s account to help them learn healthy financial habits.
How do I sign up?
You can sign up by going to my.wallit.app and signing up with a username and either a password or mobile number. During the sign-up flow, you’ll create your profile, invite your family members, and link your checking or savings accounts.
What personal data do you collect and why?
During the sign-up process, we’ll ask you for your full legal name, an email, mailing address and the last 4 digits of your social security number. We use this information to verify your identity so we can link your savings and checking accounts.
How do I create an account for my teen?
You can invite your teen during the sign-up flow or later by going to your ‘Profile’ and selecting ‘Family’. At the bottom of the list of currently invited family members you’ll see the options to invite an additional co-parent or teen.
How old do my kids have to be to use Wallit?
Wallit is meant for all ages! As soon as your kids are ready to start earning an allowance and learning how to responsibly save and spend the money they earn, they can start using Wallit.
How do I link my teen's checking or savings account?
Only Parents can link checking or savings accounts and link them to Wallit. Simply add your teens’ accounts by going to the ‘Accounts’ section on your dashboard and hitting the ‘Add an Account’ button.
Once you’ve added an account, select it and find your teen’s name from the ‘Share Account With’ drop-down menu. By doing this you are giving your teen the ability to deposit and withdraw money with this account, even if the account isn’t in their name.