Today’s teenagers are rapidly approaching adulthood and are in need of the financial skills and tools necessary to become an integrated part of the nation’s economy. Prepaid debit card fees have become somewhat of a lightning rod in the past few months, and prepaid cards focused on teens should be no exception. USAA, a Fortune 500 financial services company providing insurance, banking and investing products to over 7 million people now offers a low-fee prepaid teen debit card.
USAA is a pioneer of direct marketing and offers financial services over the internet or telephone (rather than agents) to people and families that serve or served in the U.S. military. Complementing their mix of banking products, USAA offers the Youth Prepaid Spending Card.
We at GetDebit.com aspire to keep our readers informed of superior prepaid products found in the marketplace. USAA’s prepaid Youth Card appears to be one of those products. As heard so many times throughout the generations, “Money doesn’t grow on trees”, the need to educate our children about the prudence of money management is as important as ever in the current economic climate. USAA provides parents and teens a simple, fee-friendly product that offers teens a certain degree of financial freedom while, at the same time, financial control to parents.
Some of the benefits of the USAA Youth Prepaid Spending Card include:
- No Setup, Activation or Annual Fee
- FREE Online Management, Fund Loading and Balance Inquiries
- A Safer Spending Option than Cash (see agreement)
- Ability to Set Spending Limits and Allowance Schedules
- Parents and Teens Can View and Track Transactions on USAA.com
- Parents Notified by Email if Teen Makes a “Questionable Transaction” (see FAQ’s)
- Card is Accepted Anywhere MasterCard is Recognized
- Credit or Debit PIN Transactions
- Parental Control to Temporarily Suspend and Reactivate the Card
- Load Funds on the Card through USAA Credit Cards, Checking or Savings Accounts
- $1,000 Card Balance Limit
- FREE USAA ATM Withdrawal Fees (other ATM fees may apply)
- FREE Live Customer Service
When searching for prepaid card choices to give your teenager a bit more control over their money, there are several good options available, and the USAA Prepaid Youth Card is one of them. Be sure to carefully compare your choices to find out which are right for you and your teen.