I never thought I would give my kid a visa card before their 13th birthday. That being said, the world is changing. You used to be able to pay cash for anything…not anymore. The trouble started this last year when my son started going to school football games without me and some of the concession stands didn’t take cash. Mind blown. Even the ticket booth required you to pay before hand via an app and show your phone to get in. This has forced me to figure out cashless options for my kids.
My kids have previously used the Greenlight card. It was great, but the fees didn’t justify their small purchases here and there. Also, I didn’t use all the features (like allowance etc.) like I thought I would. So I decided to close that account. Now what?
I wanted my pre teen son to have a card but I didn’t like the thought of him having his own credit card. Also, I wanted a card with no monthly fees. What about a pre paid card?
Regions Bank has launched a new prepaid card called the Regions NOW card. This card is an excellent tool for parents who want to teach their children about financial responsibility and budgeting. The Regions NOW card is a prepaid debit card that parents can load with funds for their children to use, and it comes with a range of features that make it easy for parents to monitor their kids’ spending.
One of the key benefits of the Regions NOW card is that it helps kids learn about budgeting and financial responsibility without the worry of your child having access to an unknown amount of funds (like with a credit card).
Score, this might be the answer!
Side note; you can also check out three credit cards for kids here if the pre paid card isn’t an option for you.
Table of Contents
Purpose of the NOW Card
The purpose of the Regions NOW Card is to provide a safe and secure way for parents to give their children access to money. Parents can load money onto the card and kids can use it to make purchases online and in stores. The card is also a great way to teach kids about budgeting and saving, as parents can track their child’s purchases easily on the Regions app.
Key Features
The Regions NOW Card comes with a number of key features that make it a great option for parents and kids alike. Some of the key features include:
- Parental Controls: Parents can set spending limits and track their child’s expenses through the Regions mobile app or online banking portal.
- Easy to Use: The card is easy to use and can be used anywhere Visa is accepted.
- No Fees if used 7 times per month: There are no monthly fees or activation fees associated with the card as long as you make 7 purchases with it.
- Fraud Protection: The card comes with fraud protection, so parents can rest assured that their child’s money is safe and secure.
Eligibility and Requirements
Age Restrictions
The Regions NOW card is designed as a pre paid card for mainly adults but children can use it too. Children under the age of 18 will need to have a parent or legal guardian apply for the card on their behalf. A child can have their own card (with their name on it) as long as they are over 8 and have a passport ID.
Setting Up the NOW Card
When it comes to setting up the Regions NOW card for kids, there are a few steps that parents need to follow. Here are the steps to follow:
Application Process
The first step is to apply for the NOW card. Parents can do this by visiting the Regions Bank website and filling out the application form. The application process is simple and straightforward, and it only takes a few minutes to complete.
During the application process, parents will need to provide some basic information about themselves and their child, including their name, address, and Social Security number. Once the application is complete, Regions Bank will review it and determine whether the parents and child are eligible for the card.
Activating the Card
Once the application is approved, parents will receive the NOW card in the mail. The next step is to activate the card. Parents can do this by calling the number on the back of the card and following the prompts.
During the activation process, parents will need to provide some additional information, including the card number and security code.
Using the Card
Making Purchases
The Regions NOW card is a great way for kids to learn about managing money and making purchases. The card can be used at any merchant that accepts Visa debit cards. When making a purchase, the cardholder should select “credit” and sign for the transaction. The purchase amount will be deducted from the available balance on the card.
ATM Usage
The Regions NOW card can also be used at ATMs to withdraw cash. The cardholder should look for ATMs that display the Visa or Plus logos. When using an ATM, the cardholder should select “checking” and enter their PIN. Cash withdrawals will be deducted from the available balance on the card.
It is important to note that some ATMs may charge a fee for using the card. The cardholder should check for any fees before using the ATM.
Online Transactions
The Regions NOW card can also be used for online transactions, such as shopping on websites or paying bills. When making an online purchase, the cardholder should select “credit” and enter the card information. The purchase amount will be deducted from the available balance on the card.
Managing the Card
Parents can easily manage their child’s Regions NOW card through the online portal or the mobile app. The following subsections will explain the various features available to monitor and control spending, as well as the security measures in place to protect the card.
Monitoring Spending
The online portal and mobile app provide real-time updates on the card’s balance and transaction history. Parents can view where and when their child made a purchase, as well as the amount spent. This feature helps parents keep track of their child’s spending habits and identify any unauthorized transactions.
Fees and Charges
Cost Comparison
The Regions NOW card for kids has a monthly fee of $5.00, which is lower than many other prepaid cards for kids on the market. That being said, the fee can be waived if it is used a minimum of 7 times per month. Also note that there are other fees associated with the card. For example, there is a $2.50 fee for each ATM withdrawal, and a $2.50 fee for each ATM balance inquiry. Additionally, there is a $5.00 fee for each replacement card.
Avoiding Common Fees
To avoid some of the fees associated with the Regions NOW card, parents can encourage their kids to use the card at Regions Bank ATMs, where there are no fees for withdrawals or balance inquiries. Parents can also set up direct deposit for the card, which will waive the monthly fee. It is also important to keep track of the card balance and avoid overdrafts, which come with a $36.00 fee.
Overall, this pre paid card has been a great choice for my preteen son. The best part is that I can monitor his spending and transfer money when needed. Also, as long as we stay above the minimum purchase requirements, it doesn’t cost me anything!
Frequently Asked Questions
Parents who are considering getting a Regions NOW card for their kids may have some questions about how it works and what benefits it offers. Here are some frequently asked questions about the Regions NOW card:
What is a Regions NOW card?
A Regions NOW card is a prepaid debit card designed for kids and teens. It allows parents to give their children access to money without the need for cash or checks. The card can be used anywhere Visa is accepted, including online and in stores.
How does the Regions NOW card work?
Parents can load money onto the card through their Regions online banking account or mobile app. They can also set up automatic transfers to add money to the card on a regular basis. Kids can use the card to make purchases or withdraw cash from ATMs. Parents can monitor their child’s spending and set spending limits through the online account.
What are the benefits of using a Regions NOW card?
The Regions NOW card offers several benefits for parents and kids. It provides a safe and convenient way for kids to access money, without the need for cash or checks. Parents can monitor their child’s spending to help them learn responsible spending habits. The card also offers fraud protection and zero liability for unauthorized purchases.
Are there any fees associated with the Regions NOW card?
There are some fees associated with the Regions NOW card, including a monthly maintenance fee of $5 and fees for ATM withdrawals and balance inquiries. These fees can be waived if certain conditions are met like using the card a minimum of 7 times.
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