Useful links:
eMoney News | eMoney Press Releases | sQuid schemes - eMoney

eMoney News

Prepaid cards 'a great cash alternative for teens'
19 Jul 2009

Prepaid cards are a "convenient alternative" to withdrawing cash from ATMs or a traditional bank account for teenagers, according to a personal finance writer.

Szu Ping Chan of lovemoney.com said such cards can help teens avoid "endless trips to the bank" and added that fewer forms need to be filled in to receive one.

Mobile phone provider O2 recently listed a number of advantages of prepaid cards, including the fact that young people cannot spend more money than has been loaded on the card and parents can top up their children's card balance online.

Earlier this month, the Birmingham Post reported that sixth-formers at King Edward VI Five Ways School are resisting a move away from eCash smart cards as part of its cashless catering initiative.

Around 20 pupils drafted an open letter to the school saying they would prefer to use the smart cards than a fingerprint recognition system.