The Wachovia Buxx is a kind of debit card specially
designed for teens and the young people who still depend on their
parents or guardians for finances. You might ask what benefits the teen
will get by using the debit card? Its simple, this is like a financial
lesson you are giving the teen. There is a high level of responsibility
that is required and as the saying goes, “Charity begins At Home”. When
he or she knows that they have the ultimate responsibility of what to do
with the money, they will definitely spend it wisely. This is the
perfect way for teens to gain valuable personal financial management
skills.
So what are the benefits do you
personally get by enrolling the teen for the Wachovia Visa Buxx? To the
parents, you are able to provide your teen with a re-loadable visa card
that you will load when you want. You could also be saving yourself the
inconveniences of having to pay your teens allowances and pocket money
in cash. You are also able to monitor how the teens spend the money so
that should not be a worry. For relatives and friends this presents an
opportunity for you recognize and support the teen financially.
Furthermore you might want to buy them a gift but are not sure the best
give for them. With the parents permission you just load the debit card
and the teen can sort themselves out.
Administration the
Wachovia Visa Buxx
debit card is very easy and convenient. As a parent you do not have to
worry that your teen might get carried away and use the money
irresponsibly. This is because you have total control of the account.
You can set up various parental controls on the card, for example a
weekly deposit limit such that the teen cannot withdraw more than the
amount you specify in a week. If you so wish you can even receive email
alerts detailing where the teen and when the teen is using the
card.There are various ways in which the Wachovia Visa Buxx debit card
can be
used. Both the parent and the teen can be able to pay for goods or
services purchased at merchants who accept visa debit cards and point of
sale transactions, withdraw cash at financial institutions that accept
visa debit cards for example banks, Carry out the above transactions on
Automated teller Machines the support Wachovia, Wells Fargo, Visa or
Plus debit cards, access online services related to the card balance and
card account history as well as to access Wachovia or Wells Fargo
telephone customer services.Some other important aspects of this service
that you should know
include: You cannot transfer the cash balance available in a Wachovia
Visa Buxx debit card to any other bank, debit or credit card. The card
has a Personal Identification Number (PIN) that is made known to the
holder and parent only. The maximum card value is $1,000 and this amount
cannot be exceeded. The maximum amount that can be transferred to the
card at any one time is $500 only. Initial card load minimum is $20. You
can use the card internationally as long as it is accepted and are
charged for every transaction you make with the card. This is a great
way for young people to achieve financial security skills