This was posted 7 years 5 months 6 days ago, and might be an out-dated deal.

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Spriggy - Childrens VISA Pre-Paid Card, FREE for First Year (Normally $30 / Child / Year) @ Beyond Bank

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Spriggy - Childrens VISA Pre-Paid Card, FREE for First Year (Normally $30 / Child / Year) @ Beyond Bank
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R1ngSt1nger on 22/11/2016 - 17:06 beyondbank.com.au (418 clicks)
Last edited 22/11/2016 - 20:16 by 1 other user
BBASOCIAL

I discovered this little gem via the Beyond Bank website (linked to this deal).

Spriggy is a phone app (Android / iOS) which lets you assign 'pocket money' to your children. They get their very own VISA debit card mailed to them (with their name on it), which they can use to purchase things in shops with their pocket money that you assign them.

You place money in your 'parent wallet' (via direct debit, or debit card), and you can then dish out pocket money from the parent wallet, individually to each child.

Once your children have money in their account, they are free to spend it in shops that accept a VISA card.

Your children get their own login where they can view their card balance, so they know how much they can spend, as well as watch their balance grow.

Usually it's $30 / child / year… sign up with the coupon code, and you get to try it for the first year for free.

http://www.spriggy.com.au for more information.

Financial Children Debit Card Pocket Money

Related Stores

Beyond Bank
Beyond Bank

closed Comments

  • sonicentropy on 22/11/2016 - 17:09
    +6

    The idea is for the children to SAVE the money not invent new ways for them to spend it. Parenthood you are doing it wrong

    • rawm on 22/11/2016 - 17:27
      +3

      But think of the positives: This card provides avenue for assisting in modern financial literacy (balance, expenditure), provides a 'digital currency' for kids and helps them learn not to rely on carrying physical cash with them everywhere. I'll be looking into it for my 6yo daughter. Surely there'd need to be parameters (when to carry it, not to be used without supervision etc) but I can see the strengths in a product like this.

      It can be used in combination with good ol' cash, but this is what little Johnny will be using 99% of the time from when he's 18 (2030ish)

      Questions:

      How long before transfer of funds from mum/dads account to the Spriggy account?
      Can this be used online?
      What are the fees for loss of card?

      +1 for the post OP!

      • R1ngSt1nger on 22/11/2016 - 18:11
        +1

        Hi mate, I believe debit card is instant, direct debit will be a couple of business days no doubt.

        Loss of card fee is $10
        Online works fine

  • illumination on 22/11/2016 - 17:14

    You place money in your 'parent wallet' (via direct debit, or debit card)

    Damn - almost had ideas, but it says debit card and not credit card… which makes perfect sense though.

    • R1ngSt1nger on 22/11/2016 - 17:23

      Yeah I thought the same :-) The app actually says that if you try to use a credit card, it will get rejected.

  • flipsahoy on 22/11/2016 - 17:22

    Genuine question - would a shop even accept payment by card from a child (even if it is prepaid)?

    • [Deactivated] on 22/11/2016 - 17:29

      it's just like a EFTPOS card (most of them are visa/MC debit). it just means it can be used online & those rare places which don't accept EFTPOS.

      as well as watch their balance grow.
      pigs!

      Now what's the fee's?
      (I can find)
      - $10 card replacement
      - 3.5% inernational purchases
      Any interest earnt?
      - nope.

      Min age is 8.

      Oh contactless purchasing enabled.

    • rawm on 22/11/2016 - 17:30

      I wouldn't advise getting Johnny to run to the store to buy a pack of cigars with his card.

      Surely (obviously non liquor, tabacco, gambling products etc.) there'd be a parent present and if the transaction goes through it's money all the same and the shop would be fine with it.

      • [Deactivated] on 22/11/2016 - 17:52

        Why would there be a parent present?

        I know why the bank is offering this, not only do they get interest on the money, but they get all that rare & valuable data about kids spending habits.

        Each to their own, but I wouldn't let my kids have this. Bank account (even if it only earn 2%) & ETFPOS card, is ok, so long as it requires a PIN (so their mates don't borrow it).

        • rawm on 22/11/2016 - 18:04

          I know why the bank is offering this, not only do they get interest on the money, but they get all that rare & valuable data about kids spending habits

          Haha I doubt there's a team frantically crunching numbers to determine the overall expenditure of kids.

          There are some definite issues that need to be managed but like you said, each to their own.

        • [Deactivated] on 22/11/2016 - 20:21

          @rawm: Not the expediture, it's the types of things they buy, how much money they spend, etc. It's easy to do for adults (Both Wesfarmers & Woolies groups both cross refernce your credit cards & loyalty cards across their businesses to see what you buy (and the correlation between products & services, frequency of purchase, etc). It's all about how to market to you better (predict what you're likely to buy & advertise it to you).

          Anyway the difficulty has been how to collect this kind of data for teenagers. They can get some stuff from loyalty cards, but they beauty of this system is they can easily connect the dots between parents/grandparents etc (whoever is contributing) and correlate the data with the next generation (the kids).

      • garage sale on 22/11/2016 - 18:09
        +2

        My 9 year old has austpost prepaid Visa also linked to his android phone and iPad …… Very responsible with it …..

        • rawm on 22/11/2016 - 18:13
          +1

          Exactly - so many benefits and helps give kids tools that will help them in future years.

  • tonyjzx on 22/11/2016 - 18:06
    +3

    aust post has the same thing for a once off fee of…. $6.95

  • Aguero48 on 22/11/2016 - 18:07

    After the free year will the payment be compulsory or can we just stop using it

    • R1ngSt1nger on 22/11/2016 - 18:13

      You can cancel at any time without a fee.

  • Veloheads on 22/11/2016 - 19:20

    Waiting for CBA to bring over this excellent concept from their Kiwi subsidiary.

    https://www.asb.co.nz/banking-with-asb/clever-kash.html

  • dreamerman on 22/11/2016 - 19:23

    The Coles Reloadable Mastercard is better with no fees. Both my kids have them but in my name.

    • illumination on 22/11/2016 - 22:36

      Keep in mind that the deal being shared here is that this is usually $30 and is now free.

      I guess comparing Coles Reloadable MasterCard to this, you're saving $10.

      Hmm but then again, this is supposed to be an ongoing $10/yr..

      I'd agree the Coles one is overall better though because you earn (a tiny amount of) points, plus forex fees waived until Dec 31. Not sure how many kids would care about either feature though.

      • dreamerman on 23/11/2016 - 06:38

        The only facility I want from Coles Reloadable Mactercard is the ability to load up cash for my kids to use as an emergency $50 wallet when they are not with me. I want them to get used to the idea of plastic money. Don't really care about points etc so long as they are always free.

  • scotty on 23/11/2016 - 15:06
    +1

    Free 1st year is good, but $30/year after that… That's about how much we put into their piggy bank EACH YEAR.

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