Current is a new startup that wants to take share into the modern age through an app-controlled Visa debit card. While credit cards these days are more prevalent than ever, and this is a way for parents to help kids safely learn how to use them, which isn’t a bad thing, though. Here’s everything you need to know.
This app-controlled debit card for kids, Current allows parents set up both recurring allowances for children or one0time batches of money to spend, and also, it gives plenty of control over it when it comes to things like shutting off the card and blocking groups of retailers (like bars or hotels) or specific stores. While both the parents and kids will be able to track their quota spending in the current app, which would eventually help with teaching lessons like financial responsibility.
Other great features built into Current, too. Parents can take advantage of those to assign chores to kids with monetary rewards through the app itself, and kids can easily donate money to charities if they’d like to. And Current also offers an option to round up purchases to a dollar amount, depositing the additional in a savings wallet.
Unfortunately, nothing in life is free: Current costs $5 a month, with discounted options of $36 paid annually, or $48 paid biannually for those willing to make a long-term commitment.
(via: The Verge)
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