Comments on: Teen Prepaid Cards : The New Marlborough Man? Or a Budgeting Tool? http://www.moneyandinvesting.net/2008/02/14/teen-prepaid-cards-the-new-marlborough-man-or-a-budgeting-tool/ Making you richer every day. Tue, 22 Dec 2009 00:16:54 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: David http://www.moneyandinvesting.net/2008/02/14/teen-prepaid-cards-the-new-marlborough-man-or-a-budgeting-tool/comment-page-1/#comment-1662 David Thu, 14 Feb 2008 19:26:02 +0000 http://www.moneyandinvesting.net/?p=134#comment-1662 Your a bit off on a few of your comments so I wanted to lend some expertise. Prepaid Teen cards, are in fact debit cards and even do carry the word "Debit" on them as you suggest. In many cases the cards are used in place of checking accounts because who needs to write a check these days? The prepaid cards can be used at ATM machines as well; you also suggested they couldn't. The major "Pro" for prepaid and the main argument against your post is that a prepaid debit card acts exactly like a checking account (you can even set up savings), except unlike the banks who claim to provide "free youth checking" and then slam you with $35 NSF fees, prepaid cards cannot be taken over balance and are much less costly for teens and parents. Stats show that teens go over balance on a teen checking account on average 3 times per year - that is $105/yr for a teen checking account. Prepaid Teen Cards ARE Prepaid Debit Cards. Consumers should realize that the prepaid teen card providers are actually the "good guys" in this industry. Our whole mission statement and corporate culture is governed by education and doing what is right for youth - not back-dooring you with fees. I think you might look at who you are routing for here... Take a look at my post on the topic when you get a chance: http://www.choresandallowances.com/2007/10/well-fargo-launches-teen-checking-pilot.html Dave CEO - PAYjr www.PAYjr.com www.Buxx.com www.ChoresandAllowances.com Your a bit off on a few of your comments so I wanted to lend some expertise. Prepaid Teen cards, are in fact debit cards and even do carry the word “Debit” on them as you suggest. In many cases the cards are used in place of checking accounts because who needs to write a check these days? The prepaid cards can be used at ATM machines as well; you also suggested they couldn’t.

The major “Pro” for prepaid and the main argument against your post is that a prepaid debit card acts exactly like a checking account (you can even set up savings), except unlike the banks who claim to provide “free youth checking” and then slam you with $35 NSF fees, prepaid cards cannot be taken over balance and are much less costly for teens and parents. Stats show that teens go over balance on a teen checking account on average 3 times per year – that is $105/yr for a teen checking account.

Prepaid Teen Cards ARE Prepaid Debit Cards.

Consumers should realize that the prepaid teen card providers are actually the “good guys” in this industry. Our whole mission statement and corporate culture is governed by education and doing what is right for youth – not back-dooring you with fees. I think you might look at who you are routing for here…

Take a look at my post on the topic when you get a chance: http://www.choresandallowances.com/2007/10/well-fargo-launches-teen-checking-pilot.html

Dave
CEO – PAYjr
http://www.PAYjr.com
http://www.Buxx.com
http://www.ChoresandAllowances.com

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