The Buzz with Visa Buxx
By: Anne Durrell
Starting Them Young
As a parent, you have discovered that you cannot keep an eye all the time on your children. Perhaps you have also wondered how your children are spending your money. The solution? Visa Buxx is a prepaid reloadable card and cardholders do not have a credit line.
You can monitor what the children are buying and thus you install a check and balance system on their spending. Visa Buxx will spill the beans if they are spending a lot on candies or computer games not on the stuff that are not on the list. This way, you can teach children to be responsible with their money and their accounts.
Starting them young prepares them for their financial future. Because you are checking their expenses on their allotted weekly allowance, you can warn them that if they don't spend their money right, you won't reload their account or you'll match their weekly savings when you reload their next weekly allowances. That's the Visa Buxx way.
Money Safety
Children who carry cash all the time can be victimized by unscrupulous people. But with a Visa Buxx card, their money is safe. Should they lose their card, replacements will be made and the balance transferred to a new card. If you are getting this card from financial institutions, make sure you know their terms and conditions on replacement cards.
Spending Limits
It takes a week or up to 10 days before the card can be reloaded. Ensuring that your child does not run out of money you have to reload ahead. You don't have to worry if your child attempts to purchase an expensive item because the purchase will be denied as there are limits to his or her spending.
As long as your children stay within spending limit and as long as you reload on a timely manner, your children will have adequate weekly allowances and on schedule. You and your child can also review the online account to check the balance. That's the beaut of the Visa Buxx.
ATM Withdrawals
Visa Buxx allows ATM withdrawals but you have to check if the issuer offers this feature. If this is allowed, your child can withdraw the money anytime and anywhere from Visa ATMs. For more information, check out their websites.
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