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View Full Version : Prepaid Debit Cards for the kiddos? update (new info)


DisneyBrat
08-05-2006, 12:07 PM
We live near Richmond,VA and our mall which is a chain of Simon malls has a prepaid debit visa you can get for either $2.00 at the mall without any name on it OR order it online for $5.95 with a name printed on the card. I was wondering if this would work for kids to have spending money and not have the hassle of keeping up with actual money.


* New info * I spoke to our bank yesterday and inquired about the Visa gift cards. CSR said people were upset when they put vacation money on them and vendors won't accept them because of no name imprint to verify card owner. I asked if American Express gift card was the same and told yes there had been reports where that card wasn't accepted because it was American Express and some vendors only accept Visa/MC ect.. I was reading the fine print for Visa gift cards and WOW the monthly charge and inital fee can be HIGH. Cards vary. The Simon card I thought "WAS" a good deal isn't that great. It is only a gift card and has very little security with purchases like the bank gift cards.

HappyLawyer
08-05-2006, 12:20 PM
i just posted something similiar on the family board, i am doing it i like the idea, you said online tey can put the name on it?

got2lovedisney
08-05-2006, 01:07 PM
You can also look into www.visabuxx.com which doesn't limit them to only Mall stores (my DD uses hers at McDonald's, Wendy's, movies, etc.). There is a fee I think so read the fine print but it's really easy to use (we have the one from Wachovia) and I've set it up so I'm emailed all her transactions so I know where she's spending her(my) money!

TSM1993
08-05-2006, 01:10 PM
Please make sure there is no age issues. I checked into some of them and they have to be over a certain age. Maybe it was just my choices of prepaid but I think Visa Buxx is one of them but most of the ones I researched were that way.

seashoreCM
08-05-2006, 01:15 PM
A waste of money I think.

Why pay a startup fee and possibly monthly fees and recharge fees for a card that can be lost or stolen with no recourse just as easily as cash?

Disney hints:
http://members.aol.com/ajaynejr/disney.htm

HappyLawyer
08-05-2006, 01:27 PM
the gift cards tell you the funds can be easily replaced if lost or stolen,


https://www.deluxe-card.com/index.cfm

i found this site and a gift card is just a gift card, there should be no age issues.

NCRedding
08-05-2006, 01:33 PM
I gave my DD a USAA prepaid spending card about a year ago, just when she turned 13. I have her monthly clothing allowance deposited into the account once a month. She enjoys having it, and uses it for online shopping, as well as in store shopping. She has a problem using it at Hollister, because she has no picture ID which they require. ( I think if I gave her the PIN and let her treat it as a debit card, they wouldn't ask for ID).

I can track her spending online. It works for us.

As USAA members, there is no charge for the card to us, or from the merchants.

dizagain
08-05-2006, 02:02 PM
Please make sure there is no age issues. I checked into some of them and they have to be over a certain age. Maybe it was just my choices of prepaid but I think Visa Buxx is one of them but most of the ones I researched were that way.


I gave my 10-yr-old a pre-paid visa gift card/debit card for her birthday. She had no probems using it at all and it was so cute watching her sign the slip! She used it at several places including American Girl Place, Target, and McDonalds. She was in heaven! I don't remember the exact fee, but it wasn't much and it expired in one year. I got ours at a National City bank branch. :)

Demomma
08-05-2006, 03:49 PM
I recently stayed at SSR and ws able to put my CC on my son's DVC card with his passes for DisneyQuest,etc with a limit and it worked out real well!
:woohoo: Gave him that extra feeling of being "grown up".

MrsPete
08-05-2006, 04:00 PM
I gave my DD a USAA prepaid spending card about a year ago, just when she turned 13. I have her monthly clothing allowance deposited into the account once a month. She enjoys having it, and uses it for online shopping, as well as in store shopping. She has a problem using it at Hollister, because she has no picture ID which they require. ( I think if I gave her the PIN and let her treat it as a debit card, they wouldn't ask for ID).

I can track her spending online. It works for us.

As USAA members, there is no charge for the card to us, or from the merchants.I'm thinking about doing something similar at some point during my daugther's high school years. I'm thinking of starting her with a pre-paid card her freshman year, then moving her to a "real" card with a very low balance her Junior year.

Here's my thought process: One thing my mom did right with me was to encourage me to get a checking account during my senior year of high school. I had a year at home to learn to manage my checking account, and she made sure that I balanced it every month when the statement came. I saw so many people go to college with a brand-new checking account, and many of them got into trouble because they didn't understand how to manage it.

Today credit cards are everywhere, and I'm going to make sure my daughters have BOTH a checking account and a credit card no later than their senior year of high school.

I have not looked into the fees associated with the pre-paid Visas, but if it serves as a learning tool for the child, a small fee would be worthwhile.

StephMK
08-05-2006, 04:46 PM
I think this is an awesome idea and now plan to look into it for my DD. I'd like to be able to transfer her allowance to the card on a regular basis because I'm notoriously bad at giving her cash on time. She's wanting to shop more & this would give her a definite limit she can "see" and reinforce what I've been teaching her about basic finances & budgeting.

I got into trouble managing my own $ in college & want her better prepared.

Does anyone know of a free card that can be re-loaded? I'd prefer not to pay fees. Can I sign her up for a debit card & account at our bank? That's probably a question for our bank but wondered if anyone had tried that.

king louie
08-05-2006, 05:14 PM
This Simon gift card is accepted everywhere Visa is accepted not just mall stores. :cool1: The cost is $5.95 online with a name imprinted or $2.00 at the mall with NO name imprinted. The lady said to make sure its a GiftCard and not a Giftaccount. There are no service fee's except after 12 months. Hey it's Disney so there is little chance for anything left on a card. My motto is ride and shop til you drop. :woohoo: :woohoo: :woohoo:


Lew

PS for more info check out Simon (dot) com (sorry my post wont allow url sooooo this was the only way to get the info in my post. Hope this isn't against the rules.

apparently there are alot of malls associated with Simon sooooooo maybe you will have one near you if you want to get a card for $2.00

DisneyBrat
08-05-2006, 05:16 PM
Sorry my son's name was signed on and I posted above (king louie) Maybe THAT'S WHY I couldn't get www.simon.com to work hahahaah

Tink561
08-05-2006, 06:43 PM
Our kids have VisaBuxx too. They have to be 13 to have one.

DisneyBrat
08-12-2006, 12:13 PM
has anyone had a problem with no name imprinted on card?

CowboyCO
08-12-2006, 01:59 PM
If you are staying at a disney Property, you can have each child's room key card authorized to make charges to the room bill just like yours. I don't know if you can limit the spending limit individually per kid, but you can limit it to a specific dollar amount total and then you can your own puchases on a credit card.

Just a suggestion.