Regular visitors to our website would be well aware that iSky Researchers are big fans of ASB New Zealand's Clever Kash, electronic money box. In case you aren't sure what Clever Kash is you can check out some of our earlier thoughts and videos on this cute bit of Fintech here. But just to recap, Clever Kash is a digital money box that allows customers to wirelessly send 'pocket money' to their kids via the bank's mobile app, in real time.
In fact, if you haven't checked out ASB's award winning promotional video, please take the time to watch it here - it is a brilliant piece of emotion laden marketing from Satchi & Satchi.
As you can see, Clever Kash is targeted at both parents and kids, however as we discovered a few days ago not every child will be able to get one.
Last week we received correspondence from the bank that explains some of the parameters for acquiring a Clever Kash money box - which is finally rolling out to a larger audience following an earlier trial and many months of quiet thereafter. As the bank notes, to get your hands on a Clever Kash you'll need to be sure of the following:
- That you re a parent or legal guardian of a child/children currently aged 4-12 years old
- That you and the child/children live in New Zealand
- That you have an ASB transaction account and the child/children will need an ASB savings account that you operate on their behalf. If your child doesn t have a savings account right now, don t worry you can open this when you receive your Clever Kash order form
Sadly, no one at iSky Research currently fits this profile - and dare we say that many New Zealanders, despite wanting a Clever Kash won't yet be able to get one due to these parameters - however, with special thanks to our friends at the Commonwealth Bank innovation lab (Commonwealth Bank is ASB's Australian parent bank) we were lucky enough to have a play with one recently, and we were left very impressed!
The device works seamlessly, is small enough to sit comfortably on your child's bedside table or dresser, and is as cute as it gets! At the same time, use of the app by parents is incredibly straightforward - as watchers of the video above will note, customers simply 'flick' a coin to their child's account and the elephant does the rest.
There was only one drawback (and we are being picky) as we saw it. The little yellow elephant of joy is made of a hardened plastic - when it looks like it should be soft and cuddly (we did say we were being picky).
Below are some photos from our 'play' with Clever Kash (including Clever Kash's analogue Australian cousin, the Platybank from Commonwealth Bank), along with a copy of the correspondence from ASB outlining the parameters for access.
Scroll down to see more.