For parents, having the ability to constantly monitor their children’s spending habit is probably the best thing about giving their kids a prepaid debit card. Although easy transfers and approvals might be the motivation for choosing a prepaid card as parents, that probably would not seem very exciting for your kids. For kids, prepaid debit cards are the gateway not just to financial independence but freedom in general. Here are five reasons why your kid will love their new SpendSafe prepaid debit card.
Buy anything, anywhere – Unlike cash, prepaid debit cards allow kids to shop on any platform be it ecommerce platforms, app stores and at brick-and-mortar shops. This gives kids the ability to purchase a wide selection of items. While physical shops contain products of limited variety, online platforms open up the potential to conduct product research, compare prices, scan for discounts and only then make a purchase.
Easy to reload – Kids, especially teenagers, hate to ask for money from their parents! And what’s even more awkward than asking parents for money is doing it on a regular basis. Thankfully, prepaid debit cards are not just easy to use they are extremely easy to top-up. As our cards can be controlled through an app, parents can directly transfer money to their kids’ accounts at the touch of a button.
Sense of Independence – More than money, kids love the sense of independence they get when they are free to spend their money whenever and wherever they want. Most kids start learning about the importance of money from an early age. Owning their own debit card is like a stamp of approval from adults. It makes feel them important and grown up. Knowing that parents trust them with money makes kids feel secure and confident.
Save for bigger items – Using prepaid debit card services such as SpendSafe, kids can deposit all their savings, allowances and chore earnings in a single account that is linked to their cards. Pooling all their resources boosts their saving capabilities so that over time they can afford to make bigger, more expensive purchases without having to ask for money from parents.
Personalized Accessory – Most parents know that ‘status’ is a big concern of teenagers. For them, a prepaid debit card is not just about money, but a valuable social accessory. And there is nothing a young-adult values more than personalizing their prized possessions. Our prepaid debit services allow our customers to personalize their cards. Bearing their own name and customized display, teenagers can now design their newfound financial independence to stand out from the rest.
Want to know reasons you would love a prepaid debit card for your child? Register now and find out more.