Parents today have all kinds of app to monitor their kids. There’s a driving app to monitor teen drivers. Then there’s the app to make sure they’re in school. But now, there is a Visa kids debit card: Good idea or big brother?
We can thank rising tech company Current. This card lets teenagers shop from their bank account and allowance. Also, this allows parents to fund their bank account through allowance. For instance, instead of giving the kid cash, you put the allowance money on this Visa kids debit card. Furthermore, through the app, parents can limit spending, track spending, even set up chores and show the pay for them.
But that’s not all. Parents can set up chores and review how good the work is before they pay the allowance. They can choose how much money they can spend per day. Parents can also block age restricted items, like alcohol, casinos, cigarettes, pornographic material, R-rated movies, M-rated video games. I like the Giving Wallet feature. It allows parent and child to support charities of their choice. It’s available on Apple and Android devices. You pay a subscription. Then, you pay $2 or $3 a month. Or you can pay $5 a month without a yearly subscription. So they’re going to get this money.
But is the Visa kids debit card a good thing? It can be. It can teach kids about how to manage money. Also, the card can stop a habit of overspending before it starts. That’s are good habits to have in life. So yes, this can be a good teaching tool. It can also bring families together. But like all technology, this can be abused. Somebody can use this just to spy on people. Others can use this to spy on what adults are doing. A jealous or abusive spouse/lover can use this against their spouse/partner. That’s just one example. Like all things IT service, or all things computer technology, this can be abused. But I ask you, Visa kids debit card: Good idea or big brother?