FamZoo Prepaid Mastercard® Debit Card for Teens
Consumer Reviews, Fees, Credit Score, Application & Best Alternatives
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The FamZoo prepaid debit cards are designed to be used by entire families. FamZoo Mastercard cards help parents teach their kids how to manage finances. These cards can be used by families living in US territory only.
At the same time, they are a great tool for tracking spending while not having to deal with any overdraft fees. Parents receive a primary card while their kids get additional ones that are tied to the main account.
Parents can transfer allowance and other funds to their children's accounts and use various features to help them learn about managing their balance. These cards come with minimum fees, but they have a fixed monthly cost.
You can reload FamZoo prepaid debit card with a direct deposit and it is free. Your FamZoo prepaid Mastercard card also has 1-month FREE subscription and instant online decision.
- Try FamZoo for 1 month FREE!
- Prepaid MasterCard cards for kids, teens, and parents. Includes a financial app.
- 4 Subscription plans starting as low as 63 cents per card per month.
- Order online. No credit check. Try for free.
- No risk of debt, overdraft, or hidden fees.
- Free card load and ATM options.
- Retain parental visibility and control.
- Move money instantly between family members.
- Automatically track purchases.
- Read the FamZoo Review before applying.
Every parent wants to teach their kids valuable lessons on practical examples. One of the major lessons we must teach our kids as parents is how to use money. Just think about it, if you learned certain things on time, wouldn't you be able to avoid a lot of big financial mistakes?
What's done is done, and we learned our lessons the hard way. Luckily, we can do a lot to help our kids avoid the same mistakes and learn financial responsibility from the very start of their adult lives. This is where FamZoo and their prepaid cards come into play.
Their service allows kids to learn practical lessons by actually using money. The whole service is designed by a father, and it's meant to be used by parents and their kids.
The FamZoo Company & Its Goals
FamZoo was founded in 2006. This prepaid card provider has built its service around teaching young kids the value of money and managing it properly. The company works together with MasterCard and TransCard, to provide the best services possible, including quality support, security, and compliance.
The whole company was started by a parent who understood that children aren't getting the necessary knowledge they need to manage their personal finances. The root of financial problems for many people is a lack of understanding of the economy, money, and financial responsibility.
FamZoo IOU Accounts
FamZoo offers IOU accounts to give parents the ability to manage allowances for their kids. With these accounts, you track the money you are holding for your kids on other accounts. It can also be used for transferring money to their IOU accounts.
This was the first service offered by FamZoo, and the company took it a step further by adding prepaid card accounts. These accounts are similar to any other debit card accounts, and they allow parents to:
- Create budgets
- Share payments for expenses
- Create savings plans
- Add rewards for their kids
- Add parent-paid interest for available savings
FamZoo Prepaid Card Accounts
These cards are pretty similar to IOU but have one major difference - they come with prepaid debit cards that can be used by children. Additionally, parents can load their cards with as much allowance as they want. These accounts are more suited for teenage kids that already want to make their own purchases without parents present.
The card comes with minimal fees that are barely noticeable parents can track spending and perform actions with them if necessary. They can check where their kids are spending their money and suspend their cards if they want. It's important to know that kids can't get into debt with these cards.
Prepaid Card Account Costs
What's great about these prepaid accounts is that they come with fixed costs. The most basic plan costs $5.99 per month. If you commit to a longer period, the monthly costs are lower. Furthermore, the cards are MasterCard meaning that they can be used on all MasterCard supported ATMs or payment terminals without any fees.
Mobile App & Website
All FamZoo accounts can be accessed on the company's site or through a mobile app. The company offers an app for both iOS and Android users.
Our Thoughts on FamZoo Prepaid Cards
You should try out FamZoo cards in case you want to track how your kids spend their money with ease. There is no need for managing checkbooks or spreadsheets. All of the money that you give them can be transferred easily in an instant.
If you want your kids to learn about cards, earning, budgeting, and spending money, this is the right tool for the job. FanZoo is simple and easy, and it's definitely worth trying out. Bear in mind that you don't have to commit right away as there is a 60-day free trial.
Similar Prepaid Teen Offers
Check the FamZoon Review before applying for more details.
- Convenient for tracking transactions
- Fixed fees
- Good for education
- Easy funds transfer
- Maintenance fee
- Doesn't offer an ATM card loading option
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Rates & Fees
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