Teen checking/debit *without* ATM access ?
Hello, I've looked over the archives but not been able to find a teen banking solution for our needs:
1. I'd like for the account to have no ATM access as I would like to know what the money is being spent for and with cash you cannot.
2. I'd like for online and mobile access to load more money into the account.
3. Get to track where the card is being used.
4. I'd like to impose a daily limit on purchases
I looked at WF, and the TD Go Card. http://www.tdbank.com/faqs/frequently-asked-questions-tdgocard.html
The latter had it all, but there is a "load fee" of $1 everytime you add money. That seems excessive.
Any recommendations gratefully accepted.
Cheers,
Jan 30, 2017
Parent Replies
I put my daughter on my credit card two years ago when she had an out-of-town field trip and needed to buy her own meals. The credit card has no cash access and I can track online and on the mobile app. I haven't looked into daily limits but it may be possible. She can spend at-will on her Clipper card and for gym classes. Anything else over $7 (lunch/snack allowance), she just texts me for approval. There are no fees to add another user. She has been very responsible with the card because she knows I can track her spending and will take the card away if she misuses it.