Frequently Asked Questions

General
What is the cost of the service?
Who can sign up at MyKidsBank?
How do I delete the bank when finished?
I teach multiple classes.  May I have an independent bank for each class?
Is there a direct web address for my bank so I can create a shortcut?

Privacy
How is privacy of minors assured?
How is content assured to be appropriate?

Signup Problems
I have signed up but have not received the signup email.  Why?
When I try to sign up, I see a 9201 error.  Why?
I received the signup acknowledgment email but cannot log in.  Why?

Login Problems
What can I do if I lost my login information?
HELP!  I can't log in.  My login information is correct but I can't log in.  What do I do?
HELP!  Once I am logged in, I am getting this message "Your session has been terminated due to inactivity. Please log in again."  Why?

Deposit Accounts
What is the maximum number of student deposit accounts per bank?
Can a student have multiple deposit accounts in a bank?
What is the maximum number of transactions per deposit account?
Interest
How do I set/view/modify interest for a deposit account?
How is automatic interest calculated?
When does automatic interest post on an account?
Automatic Deposits and Withdrawals
How do I create/view/modify automatic deposits or withdrawals?
When do automatic deposits or automatic withdrawals show on an account?

Banknotes
What are banknotes and why use banknotes?
When printing banknotes, the banknotes are not aligning with the paper boundaries.  Why?

Banker
Getting started - How do I create a login deposit account for a student learner?
I have a large number of account holders in the bank.  How do I search?
HELP!  An account holder is unable to transfer funds.  Why?
HELP!  When anyone logs in, the system shows blank dialogs or other stange behaviour.  Why?

Bank tellers
Why use bank tellers?
What is the maximum number of bank tellers per bank?
Can bank tellers delete transactions?

Mobile Device Support
Is MyKidsBank mobile friendly?
How can I set my mobile device so there is an icon that shows like an app and directly connects to my virtual bank?


General

Q: What is the cost of the service?
A: Free.  The service is supported through donations from specific benefactors.

Q: Who can sign up at MyKidsBank?
A: Only an educator, parent or guardian may sign up for a virtual bank at MyKidsBank.  If you are a student or a minor with desire to learn about savings, please contact your parent, guardian or teacher.

Q: How do I delete the bank when finished?
A: As banker, you can effectively delete your bank.  Simply log in as the banker and delete all accounts.  Once you delete all accounts, nobody can log into your bank.  Banks without any accounts will be identified by the system for removal. .

Q: I teach multiple classes.  May I have an independent bank for each class?
A: Yes.  Sign up for as many banks as you need.  You may use the same email address and allow at least 3 hours between signing up.
One bank per class is a common practice.  Each bank operates independently.
If you are a classroom educator, please reuse your banks.  As the banker, you should be able to fully clear out the bank, including all transactions, etc., from the previous year.

Q: Is there a direct web address for my bank so I can create a shortcut?
A: Yes. The link directly to your virtual bank for desktop view is: <your_bank_id>.mykidsbank.org  The link directly to your virtual bank for mobile view is: <your_bank_id>.mykidsbank.org/m/  Place the link in your browser address bar and create shortcuts as needed.

Privacy

Q: How is privacy of minors assured?
A: No private information of any minor needs to be nor should ever be submitted to the website at any time (e.g. name and email address).  A teacher, parent or guardian are the only individuals who may sign up for a virtual bank.
Once signed up, the teacher/parent/guardian is the banker and is the only person who assigns login accounts for their student account holders.  It is recommended that the banker use fictitious account holder names for each student account holder to assure student privacy.

Q: How is content assured to be appropriate?
A: The banker is able to view/delete/modify all content within their bank and thus any communication between student account holders can be moderated by the banker.  Currently, the only type of possible messaging that can occur is a 'funds transfer' between account holders as enabled by the banker.  Since there is no advertising anywhere, content of outside third parties is not shown.

Signup Problems

Q: I have signed up but have not received the signup email.  Why?
A: The predominant reason as to why our signup acknowledgement emails are not being received is that the email message is considered unsolicited by the receiver's email provider.  In other words, the email provider of the person signing up receives an the email from mykidsbank.org but then has no record of the person ever emailing anything to mykidsbank.org.  Thus, the signup email message is considered unsolicited and then discarded.  This issue mostly occurs within public school email systems.  However, we have also seen this policy in non-institutional email providers.
Try these approaches:
  1. Contact your email provider and ask them to allow the email from mykidsbank.org.  Give them the time you signed up so that can inspect their email logs to see whether the email was recieved and maybe release the email to you.
  2. If the above method is not working, email us.  We can then resend the signup acknowledgement email and/or reply with the banker login info for your virtual bank.

Q: When I try to sign up, I see a 9201 error.  Why?
A: Please contact us.

Q: I received the signup acknowledgment email but cannot log in.  Why?
A: In the signup acknowledgment email, there is a 'CLICK HERE' link to enable the bank.  Please click the link and then attempt to log in as banker using the supplied banker username and password.  If you still are having trouble, please try from your home network in case the school is limiting submissions.  (see Login Problem)  If you are still having a problem, please let us know.

Login Problems

Q: What can I do if I lost my login information?
A: If you are a student account holder, please contact the banker of your bank.  If you are the banker, email us at support@mykidsbank.org.  Please make sure to send your email from the email address used to sign up or associated with the bank.

Q: HELP!  My login information is correct but I can't log in.  What do I do?
A: If you are a student account holder: please contact the banker of your bank.
If you are the banker and have not yet logged in initially: In the signup acknowledgment email, there is a 'CLICK HERE' link to enable the bank.  Please click the link and then attempt to log in as banker using the supplied banker username and password.  If you clicked the link and still unable to log in, see next.
If you are the banker and you and/or your students are unable to log in: It may be possible that your school/agency network may have a special blocking function that limits submissions to the web site.  It is also possible that school/agency computers have special security software installed that may affect browser form submissions.  This is rare but possible.
Try using your own (non-school) laptop at home and at school/agency site.  Do you still see the same problem?  If you are able to access the bank from your home network without the problem but having problems from the school/agency network, contact your school/agency IT department to change their settings to allow network access to [*.]mykidsbank.org.  If you continue to have any problems, please let us know.

Q: HELP!  Once I am logged in, I am getting this message "Your session has been terminated due to inactivity.  Please log in again."  Why?
A: The message "Your session has been terminated due to inactivity.  Please log in again." is expected to only show when a user tries to continue and either:
1) the person does not use the system within 20 minutes or
2) another person logs in the bank with the same username and password.
If you are a student account holder having problems: please contact the banker of your bank.
If you are the banker: It is possible that your school/agency network may have a special blocking function that limits submissions to the web site.  It is also possible that school/agency computers have special security software installed that may affect browser form submissions.  This is rare but possible.
Try using your own (non-school) laptop at home and at school/agency site.  Do you still see the same problem?  If you are able to access the bank from your home network without the problem but having problems from the school/agency network, contact your school/agency IT department to change their settings to allow network access to [*.]mykidsbank.org.  If you continue to have any problems, please let us know.

Deposit Accounts

Q: What is the maximum nunber of student deposit accounts per bank?
A: Up to 1000 accounts can be supported in each bank.  We are aware of schools using one school-wide bank. (700+ students)
There are some drawbacks to having a large bank.  The most predominate issue is that only one instance of a banker can be logged in at one time and this can be a challenge when there are so many account holders.  However, this can be addressed by utilizing 'tellers' to assist the account holders (making deposits, corrections, etc.).
When using for the first time and considering a large group, it might be best to use for a smaller single classroom group size for a period of time.  After using, it can be determined whether it makes sense to use one bank for the large group.  Starting small to help understand the tool can be helpful.

Q: Can a student have multiple deposit accounts in a bank?
A: Yes.  Some bankers choose to create multiple accounts to extend savings education.
For example, each student can be assigned a 'checking' account, a 'savings' account and retirement account.  As the banker, you can set a different interest rate for each account.  In this example, the students would need to remember 3 different usernames and log in individually.  The students can be logged into their accounts at the same time using different browser tabs.
As the banker, consider specifying account names easy for the student account holders to remember (e.g. <name>c, <name>s and <name>r corresponding to checking, savings and retirement).  Accounts can have the same password.
When starting out using this educational tool, we recommend that you use only one account per student.

Q: What is the maximum number of transactions per deposit account?
A: The total number of transactions, including automatic postings is 2000.  It should take multiple years to reach the maximum.  The banker may delete the oldest transactions so the account may continue to add new transactions.

Deposit Accounts - Interest

Q: How do I set/view/modify interest for a deposit account?
A: You can change the automatic deposit or withdrawal profile of any deposit account individually or for a group of accounts.  To set interest for an individual deposit account, log in as the banker and click the 'Accounts' tab.  Then click the interest rate value under the 'Interest Rate' column that corresponds to the account.  You should then be presented with a screen where you can modify the interest rate profile.
Perform a test to see.  As the banker, create a test account holder and create some transactions on the account.  Set the start date of the transactions a few months back and then add interest from those dates.  You should see the interest applied to the account.  By adding/deleting entries in the interest profile for the account, you can vary the interest applied to an account over time.
You can also add an interest profile entry for a group of students by using the link 'Set automatic interest for one or more accounts'.

Q: How is automatic interest calculated?
A: Interest is earned each day based on the specified annual interest rate and account balance.  The amount of interest earned in any given day is the specified annualized interest rate divided by the number of days in the year times the account balance at the end of the day.  Interest earned in a day = (Set Annual Interest Rate/Number of Days in the Year) X Account Balance at the end of the day.

Q: When does automatic interest post on an account?
A: Earned interest may be posted on either on the last day of the month or weekly depending on settings by the banker.

Deposit Accounts - Automatic Deposits and Withdrawals

Q: How do I create/view/modify automatic deposits or withdrawals?
A: You may create/view/modify automatic deposit and withdrawal amounts of any deposit account.  To do this, log into your bank and click the 'Accounts' tab.  Then, click the amount under either the Automatic Deposit or Automatic Withdrawal column that corresponds to the account.  You should then be presented with a screen where you can modify the automatic transaction profile.
Test to see how the the automatic transactions work.  Create a test account holder and then make changes to the Automatic Deposits and/or Automatic Withdrawals.  As you can see, the changes affect the account during the period of times specified.  For example, if you remove all the automatic transaction entries, then all the automatic transactions will be removed including those in the past.  This characteristic allows the banker to have full flexibility to make changes as needed.
To change automatic deposit or withdrawal profile for more than one account holder, go to the 'Accounts' and click 'Set automatic deposit amount for one or more accounts' or 'Set automatic withdrawal amount for one or more accounts' as needed.

Q: When do automatic deposits or automatic withdrawals show on an account?
A: The banker may set automatic deposits or automatic withdrawals for accounts to be Daily, Weekly, at the end of Month, on a specified day of the Month or Bi-Weekly.  Automatic Deposit postings occur at the beginning of the specified day (0:0:0AM).  Automatic Withdrawal postings occur at the end of the specified day (11:59:59PM).

Banknotes

Q: What are banknotes and why use banknotes?
A: The banker may optionally incorporate banknotes into their economy.  Banknotes are pre-printed credit instruments from the banker that can be handed to account holders for meritous activities.  Each bank note has a unique identification code so that the account holder may log in and redeem for deposit credit on their account.  Using bank notes provide immediate reward and saves the banker or a tellers time from logging in and making deposits.  Once a bank note is redeemed, it cannot be used by another account holder.  Examples of usage include:
a teacher pre-prints bank notes in 5, 10 and 20 denominations and then hands out during class to students based on class contributions each day.
a parent pre-prints bank notes of a fixed denomination and then hands out to their children based on helping with chores each week.
The banker may optionally only allow bank tellers to redeem banknotes.  This allows a type of classroom economy where the banknotes are turned in to a teller for redemption.

Q: When printing banknotes, the banknotes are not aligning with the paper boundaries.  Why?
A: Sometimes the margins in the browser print settings may be too large.  When prompted by the browser to print, adjust the margin settings and make sure the paper orientation is set to portrait.
It is also helpful to print to a pdf file and then view the file when making changes to the browser print settings.  If you continue to problems, please contact us.

Banker

Q: Getting started - How do I create a login deposit account for a student learner?
A: To create an deposit account for a student within your bank, log in as the banker and click the 'Accounts' tab.  Then click the link 'Add new deposit account'.  You should be then able to set the username and password for each student so they can log into the bank themselves and see their account.  Do not use a real names to protect privacy.
Perform a test to see.  Try logging into your bank using a username and associated password you just assigned for a student.  You then can see what the student sees when they log in to their account.  Then, as the banker, create some transactions on the account.  Set the start date a few months back and then add interest from those dates.  Try various options and see the effect.  Delete the transactions when you are done testing.  As the banker, you can always modify or delete anything.

Q: I have a large number of account holders in the bank.  How do I search?
A: If you are using a standard browser, you should be able to search for text on a page.  Go to the 'accounts' tab and then press, press ctrl-f.

Q: HELP!  An account holder is unable to transfer funds.  Why?
A: An account holder should be able to make a direct payment to any designated account in the bank if 1) the banker has allowed the option and 2) there is at least one other account holder.
To test the direct payment capability, log in as the banker and create at least 2 accounts.  Then enable the 'Allow Online Payments' option on at least one of the accounts.  Log into an account that has the Online Payments enabled and you should see the link 'Make a direct payment' as active.  Give it a try.  You can also log in as the recipient to see that the funds have been received.  When done testing and desired, you can log in as the banker and delete the test accounts.

Q: HELP!  When anyone logs in, the system shows blank dialogs or other stange behaviour.  Why?
A: It may be possible that your school/agency network may have a special blocking function that limits submissions to the web site.  It is also possible that school/agency computers have special security software installed that may affect browser form submissions.  This is rare but possible.
Try using your own (non-school) laptop at home and at school/agency site.  Do you still see the same problem?  If you are able to access the bank from your home network without the problem but having problems from the school/agency network, contact your school/agency IT department to change their settings to allow network access to [*.]mykidsbank.org.  If you continue to have any problems, please let us know.

Bank tellers

Q: Why use bank tellers?
A: If the number of student account holders within your bank is of sufficient size, such as in a classroom economy, consider using student bank tellers to relieve the banker work load and provide opportunity for the students to have responsibility of being bank tellers.  For example, you may have the student bank tellers be the ones who perform deposits for all the student account holders and first line of inquiry about the accounts.
Students who are the tellers would also have an account in your bank.  The student who is a teller is working for the bank as a job but then can have their own account within the bank.
If you are operating a classroom economy, consider providing all the students the opportunity of being tellers over time as a 'job' opportunity in your economy for earnings.
When considering using bank tellers, we recommend that you start out using only one bank teller.

Q: What is the maximum number of bank tellers per bank?
A: 20

Q: Can bank tellers delete transactions?
A: No.  Bank tellers only can only make additional transactions.  If a bank teller makes a mistake, they can add another transaction to the account holder for the correction.  Only the banker can delete or modify transactions.  The banker is the only one who can create deposit accounts.

Mobile Banking

Q: Is MyKidsBank mobile friendly?
A: Yes.  Mobile users may access their virtual bank using the standard mobile browser.  The bank can be displayed with the mobile device either in standard "Desktop View" or "Mobile View".
   "Desktop View" - Desktop View is the standard default view used by desktop devices.  All features are available for bankers, tellers and account holders in the bank.
   "Mobile View" - Mobile View displays the bank similar to an App.  All account holder functions are supported.  MyKidsBank provides this feature so that learners may experience mobile banking without registering with an app store.  For bankers, many functions are included.  However, bankers will likely find it easier to access their bank in the standard "Desktop View".  Tellers must access the bank in "Desktop View|.
Mobile users may select either "Desktop View" or "Mobile view" from the main login screen at www.mykidsbank.org or the home page of their bank.

Q: How can I set my mobile device so there is an icon that shows like an app and directly connects to my virtual bank?
A: Using your mobile device, enter the mobile link to your virtual bank into the address bar of your browser.  The format is: <your_bank_id>.mykidsbank.org/m/  Once the mobile browser has accessed the home page of your bank, go to settings and select option "Add Shortcut" or as similiar.  An icon shortcut should be appear that then can be clicked for quick access.




If you have any other questions not covered here, please contact us at: support@mykidsbank.org

 
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