Summary
The latest wrinkle in allowances is a new generation of prepaid debit cards. Parents automatically transfer money to a child's online allowance account, which the child can access with a MasterCard- or Visa-branded debit card to withdraw money from ATMs or make purchases.
To sweeten the deal for parents, the card might let you track your child's purchases, restrict transactions or even offer financial lessons.See the full content of this document
Extract
Prepaid Debit Cards for Kids? No
But let's face it: Although the cards are billed as money- management tools, their main purpose is to make it...
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