BusyKid Launches Prepaid Card that Integrates with Allowance Management App
BusyKid is an allowance management platform for families that keeps track of the work children do around the house. The company just launched the BusyKid Spend Card, a reloadable Visa prepaid card that teaches kids how to manage their money.
The BusyKid app is available for phones, tablets, and computers. Parents can create a profile for each child that assigns chores and prices based on the child’s age and abilities. Children can then check off their chores as they complete them and view their allowance balance on the platform.
Payday is set for Friday. Children can then choose how they want to receive their allowance. They can receive cash, buy gift cards, invest in stocks, or donate to charity through the BusyKid system.
With the Spend Card, parents can have money from their bank accounts direct deposited into their children’s prepaid card accounts. The parents must approve of payment before it is processed, either through the app or text alerts.
Each Spend Card only costs $5 a year (or $5.46 if the card is ordered with a credit card). The card includes the name of both the parent and child for extra protection. The BusyKid platform costs $14.95 per year to use which covers the entire family.