ATM card for kids
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Hi All,
Kindly share what age of your kid to obtain his/her ATM card.
How much you keep inside the a/c and any max $ to kid to spend.
Thanks -
My daughters are teenagers and don’t have ATM cards. I don’t see a need for them to have one as they get pocket money from me every week, and I’m afraid that having a card will mean one more thing to look after.
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slmkhoo:
My daughters are teenagers and don't have ATM cards. I don't see a need for them to have one as they get pocket money from me every week, and I'm afraid that having a card will mean one more thing to look after.
My kids are the same age as slmkhoo. They also don't have ATM cards. Don't want to encourage them to draw $$$ so easily.
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I got my atm card from my dad when I was 14.
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I dare not give my son ATM card because money would be too easily available. up till now, he doesn’t even have the keys to the house.
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My elder boy has a ATM card. We urged him to apply so that he can pay for his dental visits if I forgot to give him the money. It is now convenient for him to top up the student card when he is outside.
The facility has a limit on how much he can debit each day. I am not too concerned about excessive spending as he has always been a thrifty person. -
Jennifer:
The facility has a limit on how much he can debit each day. I am not too concerned about excessive spending as he has always been a thrifty person.
my son is considered thrifty...my worry is he is blur and might lose the card. I feel that it is better for him to him to hold cash which is max $20. -
I gave DD her Atm card right before Sec 1. I felt she was responsible enough to handle it. And that it was time for some money sense and management. I dont keep balance of more than 100 in that account. Most of the places she goes to needs cash and so her atm card is not used much. She still asks DH for cash instead :roll:
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I gave DD weekly allowance and realised that she doesn’t spend much and cash has been accumulating in her wallet. I am afraid all cash will be lost and find it troublesome to bank it periodically. Gave her a ATM card last year (Sec 1) and transfer her allowances to her account. I monitor her withdrawal online.
It depends on each child how they handle money, I dare not do the same to DS.
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