View Full Version : Pre Teen children and Smart Cards

21st Oct 2004, 12:36
The Nationwide Building Society based in Swindon have written to my daughter aged eleven to see if she would like to have a plastic card and PIN number to give her instant access to her savings fund at any one of 42000 ATMs all over the UK, they go on to gush that you would be able to use the internet to manage your account also,... admittedly they have suggested that she talks to her mother, but then go onto suggest she might like to manage her own account and be in charge of her money.

Is this Building Society run by absolute TW*Ts or what.

Am I being too protective of the last remaining child(at home) of my family?

Please let me know what the rest of you feel about this sort of Crap!


21st Oct 2004, 12:42
Actually, I think it's a good idea. Yes, there's a risk that she takes all the money out then doesn't have any left - but then presumably there's no overdraft facility, so maybe it'll help her learn to plan finances?

We're just debating when to start Miss S on pocket money, to try and help build a relationship between no. of Barbies and no. of pennies! :rolleyes:

21st Oct 2004, 12:45
Don't think cards or pins should be issued to chidren under the age of 16,and then I still feel 18 more appropriate.
How long will it be until we see in a paper a headline..........

Police suspect drug users mugged the poor child for her/his ATM card.

These so called responsible banking institutions should think first unless they want this scenario.

21st Oct 2004, 12:52
My 12 year olds have debit cards - it still tickles me when I see them trying to sign their name in a shop, being given odd looks from others in the queue.

They are very responsible kids who are permitted to transfer only small sums from their high interest savings account into this account. They see it as a bit of a novelty, we see it as them learning from an early age the responsibility needed when in possession of a credit / debit card.

It is not possible to go overdrawn, and, if the account is empty because they have used all the money, then thats tough. (That never happens though, as, like Dad, they are VERY careful!).

Standard Noise
21st Oct 2004, 12:57
"Is this building society run by absolute twats or what?"

You know where you went wrong don't you? You phrased it as a question rather than a statement. They all are.

We got a similar mailshot from the Halifax two years ago even though they didn't know if there was a Noisy jnr or not. I spoke to the imbeciles in my local branch who depite finding out that Noisy jnr was 6 months too young to have a card/pin account, agreed to open one for him anyway. We stupidly thought that as he was soon to attend his local Grammar school and would be in town every day, he would like to have access to his money when he needed it. So, we upped his pocket money and every pay day, I transferred the right amount into his account. His own independance and maybe the start of some kind of realisation that money doesn't grow in daddy's wallet or mummy's purse and that once it's gone, it's gone and you have to wait until daddy's next payday.

Absolute bollocks! Once the little shit had spent his money in week one, he wanted me to transfer more in to his new electronic money pit! Then, after a visit to pick up some leaflets in the branch, he declared that, " Maybe I need one of those overdrafts to tide me over til my next pay day." Oh how I chuckled and swore a bit.

Needless to say the experiment went badly awry and the placcy card was cut up and binned and he had to go back to begging for pocket money on a Friday afternoon.

Twas an experiment gone wrong. Whether it's just Noisy jnr or all of our young, I now think 12/13 is too young to be introduced to the world of banking in this "price of everything, value of nothing society."

21st Oct 2004, 13:06
Why did you not just make him wait? three weeks without money would probably teach him to handle money better.

Standard Noise
21st Oct 2004, 15:17
Sadly not, as Mrs Noise has a lower "annoying teenager" threshold than I. Still, at least I don't have to get involved in handing out the shekels anymore, she's copped for it for the foreseeable.

Thank god.:p

21st Oct 2004, 17:27
Does Noisy jnr have to do anything to earn the pocket money?

21st Oct 2004, 21:30
The Niknak Brats have been involved in the scam aka "pocket money" for about 5 years now, they are expected to do domestic duties to earn this, and withdrawal of pocket money is an occassional disciplinary measure.
They each get 10 per month, and are expected to save at least half of that.

Both are over the age of 12, and ineviatebly Grandparents and relatives send them cash instead of presents for birthdays and at xmas, they tend to save all of that money, consequently, they both have over 4K each stashed away in various saving accounts which can't be accessed until they're 18.

They never go short of any of life's essentials, and if they want anything such as the latest fashion accessory or "must have" item, we will buy it on the basis that they pay us back, the repayment terms are set in stone and never waivered from - when it comes to them spending their own money, it's amazing how quickly their interest in material items vanishes.

They're both like any other teenager, most of the time they're great to be around, occasionally they're a complete pain in the 'ass, but they both have a good understanding of the way things work financially.