Kids and parents alike will enjoy Mydoh, an RBC-powered money management app packed with useful features that make handing out allowance easier than ever. What started as a concept from a couple of MBA graduates is now a popular app.
Sure, there are other apps out there for assigning household chores or sending automatic allowance payments, but there aren't many that also provide a Smart Cash Card kids can use to make their own purchases. Whether or not this is a good idea is up to the parents, but the fact that it's an option is impressive.
Mydoh features
Here's an overview of what Mydoh has to offer families.
Why You Want It
Easily track your kids' spending + Automate allowance and chore assignments.
Special Features
- Mydoh Smart Cash Card gives kids limited access to spending online and in-store
- Use Mydoh Tasks to assign chores and household tasks for your kids
- A fun way for kids to learn financial literacy
- Add up to 2 parents and 5 children at no cost
Provinces
AB, ALL, BC, MB, NB, NL, NS, NT, NU, ON, PE, QC, SK, YT
Features
Min Monthly Fee
N/A
Max Monthly Fee
$0
Kids Included For Maximum Fee
5
Includes Prepaid Card
Promotion
N/A
Mydoh product rating: 5.0 stars
Mydoh received a fairly high Genius Rating of 5.0 stars for several reasons, including its variety of top-notch features, zero subscription necessary, and its compatibility with a wide range of devices. And, partially because it's powered by Royal Bank of Canada, we appreciate that the Mydoh app is quite safe and secure for users of all ages.
It did fall a bit short in a few areas though, such as its lack of availability on an internet browser. It may be free to use, but there are certainly still areas of improvement that should be addressed.
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Learn more about our rating methodology.
The pros of Mydoh
Mydoh has plenty of features to love – here’s what makes it a good option.
Pros
Completely free to use for everyone
There used to be a free monthly trial before Mydoh began charging a small monthly fee, but Mydoh is now free for everyone, all the time. You don't have to worry about trial periods or fees and you don't even need an RBC account to use this app. It's here for anyone and everyone.
Mydoh is backed by a Canadian powerhouse bank: RBC
This app isn't just the brainchild of 2 passionate students – it's backed by one of the most impressive powerhouses in the Canadian financial industry. Founded in 1864 and now serving more than 17 million clients worldwide, Royal Bank of Canada is a solid institution that you can trust to support solid products.
Parents are the ones to set up the account
Everything starts with a parent account. Once you've got this set up, you can input the information for your kids' allowance, create their list of tasks, and even lock and unlock their Mydoh Smart Cash Card. You can even add another parent account for free and add extra eyes to monitor the activity. The kids can't do anything without it being reported to the parent account, which means you can rest easy knowing that your child and your money are protected.
Keeps track of kids' tasks and chores
The Mydoh app has a pre-set list of tasks that parents can select from, add to, subtract from, and alter as necessary. Kids can then open their own account, see the tasks, and check them off as needed, all of which shows up on the parent account. It's an incredibly easy method for tracking chores, plus the automatic allowance feature is a simple and easy way to handle rewards.
Kids have their own card to use for spending – within reason
The Mydoh Smart Cash Card is a prepaid Visa card, not a true credit card, that can be reloaded but doesn't allow them to spend more than they actually have. They can use the card to make purchases both online and in-store wherever Visa is accepted. It’s a smart and safe method for your children to learn financial responsibility and independence.
Kids can customize their card for a one-time fee of $6.99
Your kids can add their own spin to their Smart Cash Card with the Mydoh by Me card. It works the exact same way as the normal Smart Cash Card, but your child can personalize the design by uploading an image or choosing an existing image on the Mydoh website.
The cons of Mydoh
Here are a few areas where we think Mydoh could improve.
Cons
Parents who aren't tech-savvy can easily get confused
This is a technology-based service, and it's true that many kids are technologically literate at very young ages, and they may even surpass their parents' knowledge before too long. This makes it likely that the kids will have no problem understanding the Mydoh app, but adults who aren't tech savvy may have trouble with it.
Your child must have regular access to a phone or tablet to use it
And speaking of tech, your kids will need frequent access to a device in order to make use of the Mydoh app. Since it's completely app-based, Mydoh can't be accessed on a typical desktop or laptop computer, so a smartphone or tablet is necessary. This can make it tricky for parents trying to monitor their young ones' screen time, and it makes it impossible for those without these devices to use it at all.
Saturday is now payday forever
Saturday between 9am and 3pm EST is when your kids will receive their payment for the tasks they've completed over the last week, plus any allowance the parent has set up for them. There’s no setting you can update that will change the date, but you can still send funds to your child’s account instantaneously from your Mydoh parent wallet.
People also viewed...
FAQ
What is Mydoh?
Mydoh is a financial app for mobile devices that both parents and kids can use. There's a task tracking feature, automatic allowance payment setup, fun financial trivia, and other convenient methods for teaching financial literacy and responsibility.
How does Mydoh work?
Parents can download the Mydoh app and create an account by following an identity verification process. They then invite their kids to the app and can set up tasks for them to complete, a weekly allowance, and oversee spending on their kid’s account.
Do I need an RBC account to use Mydoh?
No, although RBC owns Mydoh, you don’t have to have an RBC bank account to open a Mydoh parent account – nor does your child. You can, however, use your RBC chequing or credit card accounts to verify your identity and transfer funds to your Mydoh parent account.
Is the Mydoh app safe?
Yes, the Mydoh app is safe for both adults and children to use. None of your banking information is stored within the app, password verification is required, and the Mydoh Smart Cash Card automatically blocks merchants that sell things like alcohol or gambling opportunities. Plus, the app is backed by RBC, which implies a certain level of security on its own.
Can 2 parents use Mydoh?
Yes, a second parent can be added to the Mydoh account. The initial account is created by one parent. When another parent is added, they share the same Mydoh parent wallet and can manage their kid’s tasks, allowance, card, and more.
This post contains affiliate links which means we may receive a commission when you sign up with Mydoh.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
Hot Money Deals This Month
- Get even more cash back with exclusive offers only available on the GeniusCash app
- Explore bigger GeniusCash offers that you won't find anywhere else.
- Connect your credit cards and unlock bonus cash.
- Explore customized recommendations to level up your rewards.
- Refer your friends and family to earn bonus levels and extra cash back.
- Take control of your money with a full-featured chequing account + $50 GeniusCash
- Get up to $500 in cash when you open a new account, complete specified actions, and open 2 registered investment accounts.
- Unlimited free transactions – including debit and Interac e-Transfers®.
- Earn Scene+ points on every debit transaction.
- $50 GeniusCash on approval – ends Oct 31, 2025.*.
- Unlimited transactions + Free identity theft protection + $125 GeniusCash
- Unlimited transactions and Interac e-Transfers.
- Free identity theft protection and access to Coursera online learning.
- $125 GeniusCash on approval – ends Oct 31, 2025.*.
- Trade over 200 cryptocurrencies with the best crypto exchange in Canada + $75 GeniusCash
- Trader fee discounts for active traders.
- No fees to fund your account with Interac e-Transfers.
- Access to plenty of educational resources for free.
- $75 GeniusCash on approval – ends Oct 31, 2025.*.
- Bonus: Get one of the lowest brokerage rates from an online broker from a Big 5 Bank →
