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Children’s allowances: Debit cards linked to parents’ phones

Source: Ann Carrns, N.Y.Times

Parents can now choose from a rapidly expanding menu of prepaid debit cards, aimed at giving them digital oversight of their children’s spending and saving habits.

Parents can use the apps to establish allowance transfers, set spending limits, or offer payment for chores and a dizzying array of other tasks. Parents can get text or email messages when their child makes a purchase. And parents can quickly tap the app to disable the card if the child loses it.

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