Monday, October 16, 2017

BusyKid Wants To Replace Your Kid's Piggy Bank With A Visa

Phoenix-based BusyKid, which offers up an online website to help parents manage allowances and teach kids about investing, is looking to eliminate the piggy bank from your kids' life--and replace it with a Visa card. According to the company, it has launched a new "Spend Card"--a reloadable, Visa prepaid card--which lets parents add money and allow their kids to purchase items both online and at local retailers, like any other debit or credit card. According to BusyKid, the idea behind the card is to let kids complete chores and earn money, which they can load on its Spend Card and spend online or in stores. The company said that the card is better to teach financial basics to kids than "handing kids an obsolete piggy bank". BusyKid said it costs $5 per child annually for its "Spend Card".