ING Direct Offers Debit Card for Teens - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » ING Direct Offers Debit Card for Teens

ING Direct Offers Debit Card for Teens

ING Direct Offers Debit Card for Teens

In the wake of the nationwide financial crisis, teaching young people how to be responsible money managers is now more important than ever. Online bank ING Direct is doing their part by introducing the MONEY account, geared towards teens and pre-teens who are ready to embark upon their personal financial education journey. Savers as young as 11 and 12 are welcome to open a MONEY account.

ING Direct touts their new MONEY account to be “a learner’s permit for handing money” and can be used to facilitate a teenager’s transition to greater financial responsibility and independence. Money can act as a stepping stone on the way to the accounts and financial products that are available to college-aged kids and adults.

Teens and parents can open a MONEY account jointly with as little as a $1 transfer from a parent’s current ING Direct account. MONEY will not be subjected to minimum balance requirements or monthly fees, and comes with a debit card that can be used for free at Allpoint ATMs. Access to the account will be made available via ING Direct mobile banking apps for smartphone devices such as Android, BlackBerry and iPhone.

Spending controls are in place for MONEY accounts to aid parental supervision. Text and email alerts can be attached to ever ATM withdrawal, purchase or incidence of low balance. Parents also have the ability to log on at any time and review posted transactions. MONEY has a $500 daily maximum for ATM and Debit card transactions which, if parents grant permission, can be increased temporarily. Upon their 18th birthday, teens with a MONEY account will be availed of daily transaction limit increases and given the opportunity to link MONEY to external bank accounts.

According to ING spokespeople, MONEY accounts will be made available to consumers within the next couple of months. Pre-registration for a MONEY account is now available for interested teens and parents, and is incentivized by the change to win giveaways such as a MacBook Air and iPod Touch or $1,000 deposit.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

MasterCard and Fred Segal Open Shop on the Strip

Posted: April 20, 2018

MasterCard and Fred Segal have opened Rock ‘n Roll Holy Land on Sunset Strip, an immersive exhibit giving people an insider’s view of the history of the Sunset Strip. The shop also puts a unique digital spin on window shopping using ... Continue reading
New Amex Centurion Lounge Opening in Denver

Posted: April 19, 2018

Are you a regular at Denver International Airport (DEN)? If so, you may want to check out the new Centurion Lounge when it opens next year. It’s stated to be the eleventh lounge in the Centurion line up. Offering airfield views and taking ... Continue reading
Crate and Barrel and Synchrony Bank to Offer New Credit Cards

Posted: April 18, 2018

Do you shop for furniture and household wares at Crate and Barrel? If so, you might be interested to know that the home furnishings retailer has inked a deal with Synchrony to offer customers not only new credit cards and financing ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
We'll match all the Miles you've earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
For Excellent, Good Credit
Our application is quick and easy with instant pre-qualification available
For Fair / Good Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!