- Debit cards for teenagers…
My daughter is 15 now and I’m thinking of getting her on of those debit cards aimed at children. She’s got a Sunday job now so has a bit more disposable income and I feel a debit card would be better than her stuffing cash into the tiny pockets of those skin-tight jeans all girls of that age seem to wear!
It will also help her see what she’s spending.
So what’s good and what’s bad?
Ta!Posted 1 year agofanatic278Member
Interested in this.
I’ve just this week signed up my 11 year old daughter with a RBS one.
All her pocket money currently goes into ‘her’ saver account. She has no way of accessing this bank account even though it’s in her name. If she wants to know how much money she has, she has to ask her mum. We could obviously just give her cash, but we tried that for years and failed – we just don’t have cash in our pockets these days, so it just gets forgotten. So we set up a direct debit into a saver account instead. But since she can’t access it herself, she never gets into the habit of spending – she just absentmindedly saves.
Anyway, when set up her new RBS child account will give her a debit card and an app on her iPad that she can access to see her balance, but limits her from doing anything of financial importance (e.g. no direct debits or balance transfers). We’ll feed a bit of cash from her saver account into her child account and see how well she deals with spending money.
That’s the plan anyway. We’ll see how she gets on. If it doesn’t work out then I’ll look at prepaid cards such as this one recommended by moneysavingexpert.com: NIMBL prepaid cardPosted 1 year agotthewSubscriber
Will she be getting paid in cash? If so, the answer is what ever bank has the most convenient branch with an accessible paying in machine.
For digital natives, Monzo would be a good shout if they are paying direct into the account. I have a Golden Ticket, (no waiting in the acceptance queue) I could whang over if that helps.Posted 1 year agopetecMember
my 13 year old daughter has one – from nationwide. Had a 2 hour chat with them about the responsibilities of it, and an app on the phone
Most of the money resides in the savings side, with only an amount in the chequing (checking? Americanisms!) side. Helps if it gets nicked.
You can control how much goes into the spendy side, but trust is the key really….Posted 1 year ago
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