Teen Wallet Makes Money Easy for Kids & Parents

The most significant duty of a parent is to equip children with tools to help them navigate their futures. A crucial element of this process is teaching kids to manage money, and many parents start practicing financial responsibility from a young age with allowances. However, in this era of technology, society is moving away from cash and it’s becoming more important than ever to understand how to manage payment cards.

“As parents, it can be difficult to manage your child’s day-to-day financial needs” says Senior Vice President Amber Uppinghouse, director of operations at HOMEBANK. “It’s a pain to have to give cash to them daily and handing over your credit card can be risky. HOMEBANK’s Teen Wallet is the solution that you’ve been looking for!”

This special debit card is designed for kids ages 10-15. The account is simple to set up–with just a $50 opening deposit requirement—and offers several customizable features, including spending limits of up to $50 per day and alerts that notify parents when the card has been used. Both teen and parent can check balances and transactions at any time, and the card can easily be turn off if the card is lost.

“While there are parental controls for this debit card, there are few limitations to its capabilities,” says Uppinghouse. “The Teen Wallet debit card can be used at any retail or online store, at restaurants or concession stands – really anywhere that takes a debit card. Kids can also get cash from ATMs.

“The Teen Wallet debit card teaches kids to check their account balance before they make a purchase to make sure they’re not overspending and to help them decide when they should make another deposit.”

With simple deposits, versatile spending capabilities, and parental supervision, it’s a quick “yes” to sign up for HOMEBANK’s Teen Wallet program! For more information, check in at your local branch or visit our Teen Wallet page. (linked to myhomebank.bank/personal/services/teen-wallet/)

HOMEBANK, Member FDIC.