Here are 4️⃣ reasons a Fancard sub-card makes sense for your child, teen, or college student
If you have children, you know that they can be quite a wild-card within your day-to-day or monthly budget. Eventually, they reach an age where they will want to spend money on their own. Two of the biggest challenges you will undoubtedly face is keeping your kids on a weekly, bi-weekly or perhaps a monthly budget, and teaching your children the importance of managing their money responsibly.
It could be an allowance, money earned for completing chores or a part-time job. Nevertheless, how to handle money is an important lesson for children that will pay huge dividends as they grow up.
Luckily, our team here at Fancards has a great tool to help with that effort! We call our solution the Fancard sub-card, real prepaid debit cards that are tied to your primary Fancard account. How can a sub-card help your child, or your spend-thrift partner or spouse? Here are four ways:
1) Allowances Made Easy
Do you give your child an allowance every week? Every month? With the Fancard Mobile Banking App, you can schedule recurring loads to your child's sub-card and never have to worry about forgetting to send them money. Plus, you can load their sub-card from your primary Fancard or from a connected bank account. Simply set it up, and then you never have to worry about it again.
2) Add Funds Anytime
In addition to scheduled loading, you can also transfer funds to your child's sub-card quickly from your primary Fancard. With the Fancard Mobile Banking App, you can send money to any sub-card in seconds, with no fee. This feature is especially important if unexpected expenses arise, or if your child quickly needs access to additional funds.
Of course, by that same token, the Fancard Mobile Banking App also gives you the ability to pull funds from any sub-card as well. It's a lesser-utilized feature, but a nice one to have in case your child is spending money where they shouldn't (not that your perfect angel would ever do that). Speaking of spending...
3) Nearly Instantaneous Spending Alerts
Because your child's sub-card is tied to your primary Fancard account, you have access to every sub-card transaction within seconds of it occurring. For up-to-the-minute updates, you can set up text message alerts to notify you when the sub-card has been used, or you can get a more detailed look in the Fancard Mobile Banking App. It's one more way your Fancards account allows you to keep track of your child's spending habits.
4) Many Sub-Cards, One Monthly Fee
One of the biggest questions we get pertains to the monthly fee of sub-cards.
There isn't one!
With Fancards, your monthly fee is the same, whether you have no sub-cards or the maximum of five. Plus, your first sub-card has no purchase fee, and each additional sub-card is only $3.95. Now that is great value for fans and families of all ages!
Ready to get started? Sign up for a Fancard to set up your primary Fancard and up to 5 sub-cards!