Prepaid debit card for children
Monday, April 20th, 2015 at 15:22
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In the article about using a prepaid debit card, I already talked about children, young teens learning how to handle money. A prepaid debit card can be a tool for paying teens their weekly or monthly pocket money. In the UK, controversy has arisen as children from the age of 8 can get a prepaid debit card in their name.Image sources
- Children's Debit Card: http://www.theguardian.com
From the many questions we have received and comments on forums, it is clear that it is not clear to many people how a prepaid credit card such as the Skrill Mastercard. Especially the aspect of uploading, charging, topping up or transferring to a prepaid credit card is apparently not always clear. Upon receipt of your Skrill Mastercard by post, it must be activated online. It is only after activation of your prepaid credit card that you can upload the credit card.
Prepaid credit cards have no credit risk because they are prepaid. This allows anyone to apply for a Prepaid credit card regardless of their creditworthiness. A Prepaid credit card offers the cardholder the convenience of keeping spending under control. After all, you cannot incur debt with a Prepaid credit card.
It is not a real credit card, nor is it a Proton or Pay & Go card. Before you can use them, you have to put money on them. So you have to charge them.
Note: borrowing money also costs money.