An app is set to debut Tuesday for parents who want to give their children allowances but never seem to have the cash on hand and don’t want to unwittingly help their kids buy alcohol (or worse).

Current is the brainchild of Stuart Sopp, a former top trader at Morgan Stanley, Citigroup and Deutsche Bank. It’s backed by the Expa entrepreneurship lab led by Uber co-founder Garrett Camp and Foursquare co-founder Naveen Selvadurai, as well as by David Solomon, Goldman Sachs’ president and co-chief operating officer.

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