Clever Kash is here

31 October 2016 / Published in Tech & Innovation

The first herd of elephant-shaped cashless money boxes are starting to make their way into Kiwi homes as part of our investment to inspire Kiwi kids to save and learn about money.

If you joined the Clever Kash waiting list during the past year, we will be aiming to get him into the hands of our littlest customers as soon as we can. 

Clever Kash solves a real customer problem for Kiwi families by making money tangible for children in a largely cashless society. Instead of holding physical notes and coins, Clever Kash displays the child’s ASB savings account balance digitally, by interacting with the ASB Mobile banking app.  Rather than scrambling for cash at pocket money time, parents can ‘swipe’ virtual notes and coins from their phone to Clever Kash. The screen on his tummy keeps count and shows the child’s progress towards their savings goals.

Since announcing Clever Kash last year, we've conducted extensive market testing with more than 250 Kiwi families, helping fine-tune his development, and our registrations of interest have grown steadily.  In order to distribute Clever Kash fairly to our customers, we’re sending invitations out based on the date you registered your interest in Clever Kash through ASB Mobile.. You’ll have two weeks to respond to your invitation (and we will also send you a reminder as well).

Two of the most common questions we have received are who can get one, and how much will he cost.

What’s the criteria for getting a Clever Kash?

 To be eligible for Clever Kash you need to:

  • Be the parent/guardian of a child aged between 3-12 years old
  • Be living in New Zealand
  • Be an ASB transaction account holder and your child/children will need to have an ASB savings account that you administer
  • Have the ASB Mobile app to use Clever Kash.

New customers will also need to have their income direct credited to ASB to be eligible to get  Clever Kash for their children.

How much will Clever Kash cost?

As part of ASB’s commitment to financial literacy, we’re excited to announce that Clever Kash will be offered free to eligible customers, to help New Zealand parents motivate children towards their savings goals and establish positive money habits from an early age.

If Clever Kash is lost or damaged and needs to be replaced then there is likely to be a replacement fee.

Our website asb.co.nz/cleverkash has more FAQs and information for customers.

If you are interested in receiving Clever Kash, join the waiting list through the ASB Mobile banking app or visit asb.co.nz/cleverkash for more information.


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