Parents sending their teenagers off to college already have a million things on their mind that they have to get taken care of; why not let the financial part be a breeze? Prepaid debit cards are a great tool to help you easily send money to your child while they are off at school, plus they can help teach your child how to better manage their finances. Outlined below are just a few of the many reasons prepaid cards are a great idea for any child going off to college.
* Global Access Whether you're sending your teenager off to college 20 miles away or across the country, a prepaid card (/) is useable anywhere Visa or MasterCards are accepted. Additionally, students can use the prepaid card to take money out of any ATM worldwide, and make purchases online. With the convenience and ease of money transfers, these cards are perfect for students and parents alike. Students can pay for rent or bills online, buy books, or a million other things easily and securely.
* Control Over Finances
Sending your child off to school with a prepaid card is a great way to make sure you're in primary control over their finances, while instilling in them the responsibility they'll need to manage their own money. Additionally, unlike traditional bank accounts, prepaid cards come with no overdraft fees, and unlike credit cards, you won't be sinking yourself further into debt. Prepaid cards are a good way to teach your kids how to manage their money instead of just giving them a credit card where the attitude of "buy now, pay later" can be hazardous to their financial success in the long run.
* Security
There can be a lot for parents to be concerned about when sending their child off to college but their finances don't have to be one of them. Prepaid cards (/) have the added benefit of being highly secure in a number of ways: they are safer than carrying cash, secure for online purchases, and FDIC insured. Funds can easily and securely be transferred to the prepaid card online at any time, and all purchases and deposits on the card can be checked 24/7.
Overall, prepaid cards will give your child access to make purchases anywhere in the world, with the control and safety they need. Not only are prepaid debit cards an excellent way to teach your child money management, they also a great tool for parents to easily transfer and track funds.
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