Terms and Conditions of Service for Zakgeld (Parent & Child Accounts)

Last updated: December 4, 2025

1. General Provisions

The Zakgeld websites (“Websites”), mobile applications (“Apps”), and related services (together with the Websites and Apps, the “Service”) are operated by SmartID Technologies B.V. (“SmartID Technologies B.V.,” “us,” or “we”), a company based in the Netherlands. Access and use of the Service is governed by these Terms and Conditions of Service (“Terms and Conditions”).

By accessing or using the Service, you (the Parent/Guardian) represent that you have read, understood, and agree to be bound by these Terms and Conditions, including any future modifications, on behalf of yourself and the child user(s) associated with your account.

We reserve the right to amend these Terms and Conditions. We will notify you of any changes by posting a notice on the Websites for at least 7 days. Revisions become effective immediately upon your first access or use of the Service after such changes are posted, or after the 7-day notice period, whichever is sooner.

2. Description of App and Service (Fictional Money)

The Service is an educational tool designed to help children learn financial concepts, such as saving, spending, and budgeting, through a supervised, virtual environment.

Parent Account: The Service allows a Parent/Guardian to create and manage one or more child user accounts.
Fictional Money: All money, currency units, balances, transactions, and financial data within the App are ENTIRELY FICTIONAL and for educational simulation purposes only.
No Real Money: The Fictional Funds are NOT real money, have NO actual monetary value, and cannot be redeemed, withdrawn, or exchanged for real currency, goods, or services outside of the App.
Tracking Tool: The Fictional Funds in the App are intended to be an approximate representation of real-world money the Parent/Guardian has saved or allocated for the child in a separate, external bank account or saving method. The Parent/Guardian is solely responsible for maintaining the real-world accuracy and integrity of their actual savings and the real money that the Fictional Funds represent.

3. Eligibility and Parental Responsibility

‍

3.1. User Types

The Service is designed for two types of users:

Parent/Guardian: An adult (age 18 or older, or the age of legal majority in their jurisdiction) who registers and maintains the main account.
Child User: A child under the supervision of the Parent/Guardian who accesses the Service through an account linked to the Parent/Guardian's account.

‍

3.2. Parental Consent for Children (GDPR & International)

Because the Service is directed to children, you, the Parent/Guardian, must provide verifiable consent before any personal data of a child user under the age of 16 is processed.

By creating a Child User account, you represent and warrant that you are the child’s Parent or legal Guardian, and you authorize the collection and use of the child’s personal data strictly as outlined in our Privacy Policy. You agree to make reasonable efforts to verify your identity as the Parent/Guardian.

‍

3.3. Parent/Guardian Responsibilities

You are fully responsible for:

All activity, transactions, and conduct under your account and any linked Child User accounts.
The child’s use of the App and ensuring it is age-appropriate and in accordance with these Terms.
The real-world safety and security of any actual funds the Fictional Funds are meant to represent.

4. Acceptable Use of the Services

You (and the Child User, where applicable) agree not to use the Services to:

Attempt to convert Fictional Funds into real money.
Use the App to promote illegal or offensive material.
Misrepresent the Fictional Funds as actual money to any third party.
Interfere with the security or proper functioning of the Service.

5. Account Registration

The Parent/Guardian must provide accurate, current, and complete information during registration. You agree to immediately notify Zakgeld of any unauthorized use of your password or account.

6. Your Representations and Warranties

You represent and warrant that your access and use of the Service will be in accordance with these Terms and Conditions and with all applicable laws, rules, and regulations of the Netherlands, your country of residence, and all international laws pertaining to the privacy of minors (e.g., GDPR, COPPA).

7. Submission of Content

Any Content (ratings, reviews, text, or data) submitted by you or a Child User grants Zakgeld a perpetual, royalty-free, worldwide license to use that Content. You warrant that you have the right to grant this license and that the Content is not libelous, defamatory, or infringing on any third party’s rights.

8. Indemnification of Zakgeld

You agree to defend, indemnify and hold harmless Zakgeld and its directors, officers, and employees from any claims, losses, liabilities, and expenses (including attorneys' fees) arising out of or related to your breach of these Terms or your access or use of the Service.

9. In-App Purchases and Subscriptions

9.1. Fees and Subscriptions

The Parent/Guardian agrees to pay all fees and applicable taxes for any subscriptions or paid features associated with the Parent Account. Pricing is subject to change at any time.

‍

9.2. Real Money Transactions and Fictional Funds

Any real money transaction you make (e.g., purchasing a Premium Subscription) only grants you a temporary license to access paid features of the App. It does not purchase or affect the value of the Fictional Funds in the App, which remain entirely fictional.

‍

9.3. Refund Policy (EU Consumer Law)

All payments for digital services and in-app items are generally non-refundable.

Right of Withdrawal (EU): As a company based in the Netherlands, we comply with EU consumer protection law, which grants consumers a 14-day right of withdrawal (cooling-off period) for distance contracts.
- Subscription Refund: If you, as the Parent/Guardian, purchase a subscription and cancel within 14 days of purchase, you may be entitled to a refund, less the value of the services consumed during that period.
- Digital Content (Immediate Access): For digital content (e.g., special themes, one-time features) where access is provided immediately upon purchase, you acknowledge and agree that you expressly waive your 14-day right of withdrawal once the content download or streaming begins, and thus, these purchases are non-refundable.

If purchases were made via third-party app stores (Apple App Store, Google Play), their refund policies apply, and Zakgeld cannot process the refund directly.

10. No Warranties and Limitation of Liability

THE SERVICE IS PROVIDED ON AN “AS IS” BASIS. ZAKGELD MAKES NO WARRANTIES, EXPRESS OR IMPLIED, REGARDING THE SERVICE, INCLUDING ITS ACCURACY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW (INCLUDING EU CONSUMER LAW), ZAKGELD SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES. ZAKGELD’ TOTAL AGGREGATE LIABILITY TO YOU FOR ANY CAUSE WHATSOEVER IS LIMITED TO THE AMOUNT PAID, IF ANY, BY YOU TO ZAKGELD FOR THE SERVICE IN THE 12 MONTHS PRIOR TO THE CLAIM.

11. Termination

Zakgeld may suspend or terminate your account and access to the Service immediately for any reason, including violation of these Terms.

12. Proprietary Rights and Trademarks

All content, designs, software, and proprietary information in the Service (“Service Content”) are the property of Zakgeld or its licensors. You may not modify, copy, or redistribute Service Content.

13. Privacy

Your use of the Service is also governed by our Privacy Policy, which details how we collect, use, and protect your and your child's personal data in compliance with the GDPR (Age 16 in the Netherlands) and international child privacy laws. By using the Service, you consent to the terms of the Privacy Policy.

14. Governing Law and Choice of Forum

These Terms and Conditions shall be governed by and construed under the laws of the Netherlands, without regard to its conflict of laws principles.

Any dispute arising out of or relating to these Terms or the Service shall be subject to the exclusive jurisdiction of the competent courts in Amsterdam, Netherlands.