Visa also has prepaid cards, including a Hilary Duff Visa and the Visa Buxx card tailored to preteenagers. Card companies emphasize that the cards are not credit cards and so can better prepare youth for the day they sign up for.
Officials at MasterCard and Visa, which introduced a prepaid debit card for teens called Visa Buxx in 2000, say the cards are an educational tool. "We think it’s a good way to teach teens good money management early on," said Rhonda.
Thanks to the banks and the get out of jail free cards supplied by Congress, other corporations are jumping on the fee-crazy bandwagon.
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In addition, the Company’s offerings include a mobile wallet solution which provides a virtual account for customers that do not have a bank account and is focused on the pre-paid card market. Through the Company’s cloud based SaaS.
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According to a company announcement, the company’s new Mobile Money service offers T-Mobile subscribers a combination of a money management app, a T-Mobile Visa Prepaid Card, incorporated with a "surcharge free".
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Similar services to Bluebird include Visa Buxx, American Express’ other pre-loaded offering for teens called PASS, and most banks and credit unions also offer their own pre-paid credit cards that you can get for your teen son or daughter.
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If debit card Visa Buxx is like a credit card with training wheels, some are complaining that teens are riding for a fall when it comes to learning to manage their debts. The Visa Buxx card is similar to a pre-paid phone card in that it has a.
You and your child can check the balance online. The Current card charges a $5 monthly or a $50 annual fee. Fees for the Visa Buxx card are determined by the issuer. If you don’t want to give your kids plastic, let them make online.
Better yet, parents can have up to four sub-accounts per card that feature daily spending limits, email alerts, and the ability to turn off ATM access. Another strong competitor without monthly fees includes the Visa Buxx card from US.
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