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Want to test a way to better manage your family's money? £300 voucher to be won for feedback

3 replies

JustineBMumsnet · 25/01/2017 14:09

We’re looking for Mumsnetters to test Soldo, the family spending account, and tell us what they think.

We’re looking for testers who:

  • Have a child or children aged between 8 and 18 who they’d like to use a Soldo card and/or
  • who employ people within their household(e.g. an au pair) that they’d like to manage some of the household spending.

Testers will need to have an iPhone (iOS 8 or above) or Android (4.4 or above) smartphone and to download the Soldo app which is required for testing.

Here’s what Soldo have to say: “Soldo, the UK’s first family spending account, is tailored for kids and adults alike. Give a Mastercard to everyone in your household aged 8 and up and set everyone free to spend what they need to spend. Meanwhile, our snappy app means you never have to let go of the purse strings. Unlike other family spending apps, Soldo isn't just for kids. For adults, Soldo is the smart way to separate your day-to-day spending (mmmm, coffee!) from the monthly bills that your current account takes care of. With Soldo, you can set bespoke budgets, limits and rules, instantly switch cards on and off in the app, and track everyone's spending with instant notifications. All balances are shown in real time, all the time. Don’t break your budget (or the bank) – let Soldo keep you and your family on the right track financially in 2017, and beyond.”

The information you will need to provide Soldo with will be: your postal address, email address and mobile number. You won’t need to share your bank details with Soldo when signing up, but in order to test the service, you’ll need to load money onto your Soldo account either by completing a bank transfer (free) or by using your debit card (a small fee applies).

If you’re selected to take part, we’ll send you a unique code, which you’ll need to email to Soldo once you’ve signed up. This will register you as a tester, so that you’ll get your Soldo account for free for 3 months. You will not be automatically charged at the end of the testing period.

Once you’ve tested the service for around 2 months, you’ll need to post your feedback on a thread and fill in a short survey. All testers who complete the required feedback will be entered into a prize draw where one MNer will win a £300 Amazon voucher.

To learn more about Soldo, please click here.

To sign up, please click here.

Thanks and good luck with the prize draw!

MNHQ

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Want to test a way to better manage your family's money? £300 voucher to be won for feedback
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JustineBMumsnet · 30/01/2017 10:04

@AlpacaLypse, here's a response from Soldo:

"Thanks for the question, AlpacaLypse!

You can definitely use Soldo as a shared housekeeping purse, but with added security settings and clarity.

People who've previously relied on a housekeeping purse or kitty (whether between flatmates or with an au pair/cleaner) find that Soldo helps them keep track of everything, without having to chase down receipts or quibble about who has spent what, and on what.

But Soldo can hold up to £25,000, so it's a lot more than a housekeeping purse.

You can add all of your children (and any other household members) as users, and move money around freely (literally) and easily, without having to keep track of physical coins or notes. You can use Soldo wherever you see the Mastercard logo (31 million outlets worldwide), and it's also contactless, so you can use it on public transport if your region's buses/trains have that facility.

As the world becomes increasingly cashless, and more and more people have smartphones, we created Soldo to restore a sense of control and predictability to household spending."

MNHQ

JustineBMumsnet · 02/02/2017 17:23

Soldo would like to apologise for an error in one of their previous posts:

They stated: "Cash withdrawals cost £1 up to £100, and £2 up to £200." instead of "Cash withdrawals cost 50p in the UK, and £1 overseas."

MNHQ

JustineBMumsnet · 07/02/2017 17:26

Hi all, Soldo have some replies to some of your queries:

@AddToBasket - "Thanks for the question, AddToBasket. You can have more than one adult card, but the account itself will be registered to one adult. If you're a couple and have an au pair/cleaner/decorator, the three of you could each have a Soldo card. Hope that answers the question!"

@Greenifer - "Hi Greenifer! Thanks for your comment.

Firstly, Soldo is not an alternative to a current account, and we don't think our users will rely on Soldo to make cash withdrawals. Soldo is mostly about having a safe way to give a Mastercard to anyone in the household who needs one.

You're more likely to use your Soldo card for day-to-day expenses like shopping, coffee, transport (contactless), or online shopping. You would then let your current account sit back take care of your direct debits and other big monthly payments (mortgage/rent/utilities), and for cash withdrawals where needed.

And then, if you have an emergency, and your debit card isn't available, or (for children), you don't have a debit card, the cash withdrawal option is there.

The idea is to separate day-to-day spending (Soldo) from the bigger, less frequent expenses that your current account is designed for. Separating these two very different 'streams' makes it much easier to stay within budget, and avoid accidental overdrafts.

Secondly, unlike banks, Soldo doesn't make money from unauthorised payment charges, overdraft fees or other penalties. You'll never get an angry letter from us! Instead, we charge a simple flat fee for each user, and small usage fees for ad hoc events.

Please let me know if you have any other questions"

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