Today, more and more often, young members of society become holders of bank cards. In this context, it should be noted that the account holders are the parents who issued an additional card for their baby. But what are the advantages and disadvantages of a children’s bank card? Recommendations on registration, including obtaining a card for a child, were given by WestStein financial service experts.
Some parents are still afraid to give plastic cards to younger family members, arguing that this is childish irresponsibility and uncontrolled spending of savings. In fact, the situation is fundamentally different, financial experts are sure. It is better for a child to make it clear from a young age that money tends to run out, and also to teach him how to spend pocket money rationally. This is the basis of financial literacy, which is often neglected even by adults.
Bank card for a child: what should you know about this payment instrument?
A bank card for children is often a debit or prepaid card linked to a parent’s account. Its functionality does not actually differ from the “adult” counterpart, but it may have a certain limit on making purchases. Thanks to Internet banking and a mobile application, mom and dad can track the child’s purchases, remotely replenish his card, and quickly block it in case of loss or robbery.
Children’s bank cards from the age of 14 help a young citizen to rationally approach spending money, and also teach them how to save money. In addition, “plastic” completely protects the child from school hooligans or loss of finances, which has a positive effect on the safety of the child.
How to order a Mastercard prepaid card?
WestStein clients practice issuing several cards for one account, calling them “family”. So, parents can freely replenish their children’s cards and monitor transactions through a mobile application.
Such a tool as the WestStein prepaid card is extremely easy to get. To do this, you need to register and verify the data (phone number and email address) on the site. A virtual debit card is available immediately after this short procedure. You can safely replenish it and make purchases both in real stores and online boutiques – with WestStein it is easy, comfortable and safe to do this!