What atm or credit card to send with teen
May 24th, 2005, 05:53 AM
#1
What atm or credit card to send with teen
My 15 yo is going on a school trip to Europe this summer. We already have a couple of hundred euros to send with him but I want to send an ATM or Credit card also. I remember reading that some ATM networks were better than others. He will only have to buy lunches, snacks and gifts. The latter probably won't happen. We all know how teenage boys can be! Any hints?
May 24th, 2005, 06:24 AM
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Send an ATM card with him that has a 4-digit PIN -- and check with your bank to make sure there won't be any problems before he goes. Make sure it's connected to a checking, not savings account and it should be fine.
We found that getting chunks of cash out and putting most of it in our money belt -- and keeping the day's cash in our wallets worked best...that way you won't pay a fee for every little transaction, and it's less trips to the ATM machine.
ATMs will give him a much better exchange rate than going to any bank or exchange facility.
Make sure he takes and wears a money belt with his passport, ID, tickets, etc. and extra cash goes in there too.
I even made a copy of my driver's license and put the copy in my wallet and kept the real one in my money belt. That way if someone pickpockets me, I only lose a day's cash and a piece of paper, not anything that can't be replaced without a hassle. In France, you must have your ID with you at all times, but it doesn't have to be THAT handy for thieves to get to it.
If he needs to get to extra cash in his belt during the day, a quick trip to the restroom is all it takes to get a little more out of the belt.
Good luck,
Jules
We found that getting chunks of cash out and putting most of it in our money belt -- and keeping the day's cash in our wallets worked best...that way you won't pay a fee for every little transaction, and it's less trips to the ATM machine.
ATMs will give him a much better exchange rate than going to any bank or exchange facility.
Make sure he takes and wears a money belt with his passport, ID, tickets, etc. and extra cash goes in there too.
I even made a copy of my driver's license and put the copy in my wallet and kept the real one in my money belt. That way if someone pickpockets me, I only lose a day's cash and a piece of paper, not anything that can't be replaced without a hassle. In France, you must have your ID with you at all times, but it doesn't have to be THAT handy for thieves to get to it.
If he needs to get to extra cash in his belt during the day, a quick trip to the restroom is all it takes to get a little more out of the belt.
Good luck,
Jules
May 24th, 2005, 06:44 AM
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Since your son is only 15, I assume that your name will also be linked to the card. Make sure of this as you may have to answer questions from the card company while he is over there. The "800" number on the back of the card will not work in Europe unless he has a world phone with international roaming. I would also make the card company aware that the card will be used in Europe and mention which countries the card will be used.
If you share the card #, let the company know that the card will be used by you, in your home company, as well as abroad by your son. Lastly, if it is a new card, make sure that it is used in your home country a few times before going to Europe.
My son lives in London and uses a BofA ATM card. BofA has parnerships with Barclay's in UK, BNP Paribas in France, and Deutsche. There is no fee for withdrawing money from these banks, but it may be difficult to have your son look for these banks while he is on a school trip.
Most fees for withdrawing money with an ATM from a foreign bank are now $5 and most teens do not like to carry around a lot of money. Fees using a credit card or debit card are not only the conversion fee but a bit higher euro rate than posted.
I would advise that he take out the max in euros when he uses an ATM. He will be asked to choose his language as well as his amount. Before he goes, try to determine what that max would be using the roughly the current conversion rate.
Lastly, tell him to have a good time!
If you share the card #, let the company know that the card will be used by you, in your home company, as well as abroad by your son. Lastly, if it is a new card, make sure that it is used in your home country a few times before going to Europe.
My son lives in London and uses a BofA ATM card. BofA has parnerships with Barclay's in UK, BNP Paribas in France, and Deutsche. There is no fee for withdrawing money from these banks, but it may be difficult to have your son look for these banks while he is on a school trip.
Most fees for withdrawing money with an ATM from a foreign bank are now $5 and most teens do not like to carry around a lot of money. Fees using a credit card or debit card are not only the conversion fee but a bit higher euro rate than posted.
I would advise that he take out the max in euros when he uses an ATM. He will be asked to choose his language as well as his amount. Before he goes, try to determine what that max would be using the roughly the current conversion rate.
Lastly, tell him to have a good time!
May 24th, 2005, 06:52 AM
#4
PLUS/Cirrus (Visa/MasterCard) are commonly found networks - see the logo on the back of your ATM card.
If he needs to get cash, an ATM card would work better than a credit card for small expenses. You can set him up with one hooked to a checking account, or (the fees are a bit more) purchase a travel/gift type card which has a certain amount of cash "loaded" on it.
If he needs to get cash, an ATM card would work better than a credit card for small expenses. You can set him up with one hooked to a checking account, or (the fees are a bit more) purchase a travel/gift type card which has a certain amount of cash "loaded" on it.
May 24th, 2005, 07:17 AM
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Hi birdie,
I suggest that you open a new account for his travel funds only, and get an ATM ONLY card for him.
That way, if something happens, you need only worry about the amoount of money in his account and not yours.
Also open a new CC account for him, with a very low limit. Same reasons.
You might also want to consider a prepaid travel card. The fees are rather high, but you can only lose the amount of money in the account. You can add more funds to the account if necessary.
I suggest that you open a new account for his travel funds only, and get an ATM ONLY card for him.
That way, if something happens, you need only worry about the amoount of money in his account and not yours.
Also open a new CC account for him, with a very low limit. Same reasons.
You might also want to consider a prepaid travel card. The fees are rather high, but you can only lose the amount of money in the account. You can add more funds to the account if necessary.
May 24th, 2005, 07:46 AM
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Birdie, You may need to check with your bank. I bank with Citibank and needed cards for my teens for the same reason. I was told that they could not under any circumstance have their own ATM card as minors. The only way for them to access money is with an ATM that has my name on it. We are going to look for a more cooperative bank for them. BofA does make a prepaid visa that we have had good luck with in the past. I intend to get them both ATM and prepaid visa, you can easily add money via internet to either account. That way if they lose one or it is stolen they will have back-up.
May 24th, 2005, 09:58 AM
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With regards to ira's suggestions to get him a new account with an ATM only card (as opposed to a Visa or MC debit card):
The idea to open a new account just for the trip is great, if you can get one for free. But I've read here recently (don't have links available, but you might find them with a search) that people have had trouble recently using ATM cards that did not have the Visa or MC logo on the front.
Can anyone else confirm this?
The idea to open a new account just for the trip is great, if you can get one for free. But I've read here recently (don't have links available, but you might find them with a search) that people have had trouble recently using ATM cards that did not have the Visa or MC logo on the front.
Can anyone else confirm this?
May 24th, 2005, 10:57 AM
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I have debit card (MasterCard logo) and an ATM only card for the same account. The ATM only card has worked just fine everywhere we've gone (even Russia). It's on the Cirrus, etc., networks. You just have to make sure the ATM has one of your logos.
I'm with Ira on the separate account recommendation.
I'm with Ira on the separate account recommendation.
May 24th, 2005, 01:41 PM
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I'm pretty sure minors cannot have accounts in their own name, even jointly. They have to have custodial accounts. I've been around and around this with multiple banks, because I wanted my kids to get some experience banking before they went off to school, and all the banks argeed that the account had to be mom, custodian of child.
The best solution I think you will find is to check with local banks ragarding fees for international ATM transactions, and how they do the dollar euro exchange (not usually a problem for ATM cards, but often a problem with credit cards). My bank, for example, makes no charge for use of an overseas ATM, and adds nothing to the network conversion premium of 1 percent. I don't think there is a better deal than that, and with some research you should be able to match it. Unless you live in a place that has a bank experienced in international dealings, you will find it hard to get the information, so you will want to see the agreement describing this before opening the account. I would be honest with the bank and advise them that you are opening a checking account in your name, but that your son will be using the ATM card during his tour. I don't think they would have a problem with that, as how do they know who put the card into the ATM?
My bank is online, so I can check balances, and make instant transfers from checking to savings. I like to keep very little in the checking account, in part because I am worried someone will steal my card and password, and I just go online and transfer money into the account when I need to get cash from an ATM.
You could also give him your credit card, but for snacks and lunches I think cash is handier; you could tell him to use it only for gifts, hint, hint.
Be certain that the ATM card is linked to a checking account (European ATMs demand that), that it is usable in the appropriate network, and that the pin is four digits, easily memorizable but unwritten (something like the year of birth and the year of HS graduation), and don't use a word, as the European ATMs I have seen have only numbers, not letters.
Be certain to advise the bank where the cards will be used during this period, as a good bank will be vigilant for use in strange locations, and may refuse them.
The best solution I think you will find is to check with local banks ragarding fees for international ATM transactions, and how they do the dollar euro exchange (not usually a problem for ATM cards, but often a problem with credit cards). My bank, for example, makes no charge for use of an overseas ATM, and adds nothing to the network conversion premium of 1 percent. I don't think there is a better deal than that, and with some research you should be able to match it. Unless you live in a place that has a bank experienced in international dealings, you will find it hard to get the information, so you will want to see the agreement describing this before opening the account. I would be honest with the bank and advise them that you are opening a checking account in your name, but that your son will be using the ATM card during his tour. I don't think they would have a problem with that, as how do they know who put the card into the ATM?
My bank is online, so I can check balances, and make instant transfers from checking to savings. I like to keep very little in the checking account, in part because I am worried someone will steal my card and password, and I just go online and transfer money into the account when I need to get cash from an ATM.
You could also give him your credit card, but for snacks and lunches I think cash is handier; you could tell him to use it only for gifts, hint, hint.
Be certain that the ATM card is linked to a checking account (European ATMs demand that), that it is usable in the appropriate network, and that the pin is four digits, easily memorizable but unwritten (something like the year of birth and the year of HS graduation), and don't use a word, as the European ATMs I have seen have only numbers, not letters.
Be certain to advise the bank where the cards will be used during this period, as a good bank will be vigilant for use in strange locations, and may refuse them.
May 24th, 2005, 02:27 PM
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This is the thread I was referring to about people having trouble using "ATM only" cards in some places:
http://www.fodors.com/forums/threads...p;tid=34604575
It's not everyone, or everywhere, or even seemingly consistent, but it seems to be enough that one would want to take notice of the issue.
As to whether or not the minor child can have an account with parent's co-signature, or whether the parent must be the principle account holder, it's not really important. My husband was primary account holder on a checking account as a young teen, but that was in the late 80s, so things may have changed. Either way, a separate account can be opened either by mom or son so that the ATM card that is in Europe does not have access to all mom's funds.
http://www.fodors.com/forums/threads...p;tid=34604575
It's not everyone, or everywhere, or even seemingly consistent, but it seems to be enough that one would want to take notice of the issue.
As to whether or not the minor child can have an account with parent's co-signature, or whether the parent must be the principle account holder, it's not really important. My husband was primary account holder on a checking account as a young teen, but that was in the late 80s, so things may have changed. Either way, a separate account can be opened either by mom or son so that the ATM card that is in Europe does not have access to all mom's funds.
May 26th, 2005, 07:01 PM
#14
Well, here is our story so far. I went to Bank of America where my kids have their savings accounts and I have a couple of accounts. I asked for a seperate account with an atm card with his name on it. I told them I would also like to get a Visa check card if possible. I explained that I realized I would have to be listed on the account. They said they couldn't do anything. Sometimes parents gave their kids the parents' atm card but they couldn't condone that. So I went over to my local small back where I do our commercial banking. No problem! Checking account in his name (and my name) and Visa check cards for both of us. They told me that there wouldn't be any problem getting an atm card but for the Visa they had to get special permission which was done. And its Cirrus. Don't you love local banks?! I am going to pass on the Italian info about atm cards to the teacher in charge. I hope none of the kids have a big problem. Thanks for all of the info.
May 27th, 2005, 07:25 AM
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My wife and I are taking a group of 45 high school kids to Europe in June for 3 weeks. This will be probably our 10th trip with kids. Our advice for the kids has been to try to rely on an ATM card with a backup of some travellers checks for an emergency. In a group that size, often one kid will have his card eaten by a machine or it just will not work over there. We have never had a problem with the name on the card. As long as you know the pin #, it should be OK.
We have made the aditional suggestion this year for the parents to open a new joint account with the kid and let the traveller take BOTH ATM cards to Europe. Since one of the biggest problems we have had is a machine taking the card and not giving it back (on a Saturday night when the group is leaving town Sunday or 8:00AM Monday) having the second card for the same account in reserve might be a help. We always come up with a solution, though, in case of a problem. Since most of the kids are from the same school, usually they have a friend along. The parents can get together and pay the other family some money so both kids can access money from the friend's account. We have also had parents wire money to a bank in the next town, but that is more expensive.
The important thing is to have a backup plan and second way of getting money. Personally, I take along TC which I plan on bringing back uncashed. We also mention that to the parents, but not all can afford to have the money tied up in both places.
We have made the aditional suggestion this year for the parents to open a new joint account with the kid and let the traveller take BOTH ATM cards to Europe. Since one of the biggest problems we have had is a machine taking the card and not giving it back (on a Saturday night when the group is leaving town Sunday or 8:00AM Monday) having the second card for the same account in reserve might be a help. We always come up with a solution, though, in case of a problem. Since most of the kids are from the same school, usually they have a friend along. The parents can get together and pay the other family some money so both kids can access money from the friend's account. We have also had parents wire money to a bank in the next town, but that is more expensive.
The important thing is to have a backup plan and second way of getting money. Personally, I take along TC which I plan on bringing back uncashed. We also mention that to the parents, but not all can afford to have the money tied up in both places.
May 27th, 2005, 07:34 AM
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I am dealing with this with my group of girls.
I have actually transferred additional funds into my accounts just in case I have to bail some girl out.
Several of them went with the Visa Travel Money card. It's not free, but it can be reloaded from home and does not require the girl have a bank account.
Of course just to drive me crazy the adult who will actually have most of the cash (I am the "tour guide" , she works for the sponsoring organization) decided to bring all the group cash in traveler's checks!!!!
Keeping my fingers crossed
I have actually transferred additional funds into my accounts just in case I have to bail some girl out.
Several of them went with the Visa Travel Money card. It's not free, but it can be reloaded from home and does not require the girl have a bank account.
Of course just to drive me crazy the adult who will actually have most of the cash (I am the "tour guide" , she works for the sponsoring organization) decided to bring all the group cash in traveler's checks!!!!
Keeping my fingers crossed
May 27th, 2005, 09:09 AM
#17
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I am a BIG fan of the ATM-only card and a separate Visa or MasterCard card overseas.
For both cards,we have types of custodial accounts (the terminology may differ but the theory is the same) for our daughter. In fact, that's how we handle her allowance. We pay in, she draws out; this method of operation has done well when she's gone off for extended summer programs in the States, too.
Even though we've had no problems, the joint account idea with the kid having two ATM cards makes instant sense to me. Whenever my husband and I travel together, one of us always has the backup for the other. His card was eaten one day in Rome and my card tided us over until we could straighten things out.
By the way, in the instance above, the ATM-only variable was not the cause of the malfunction. At that time, we were using ATMs with Visa on it. In fact, we have never had a problem with our ATM-only card.
For both cards,we have types of custodial accounts (the terminology may differ but the theory is the same) for our daughter. In fact, that's how we handle her allowance. We pay in, she draws out; this method of operation has done well when she's gone off for extended summer programs in the States, too.
Even though we've had no problems, the joint account idea with the kid having two ATM cards makes instant sense to me. Whenever my husband and I travel together, one of us always has the backup for the other. His card was eaten one day in Rome and my card tided us over until we could straighten things out.
By the way, in the instance above, the ATM-only variable was not the cause of the malfunction. At that time, we were using ATMs with Visa on it. In fact, we have never had a problem with our ATM-only card.
May 27th, 2005, 09:25 AM
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Here's another option: Get a Visa Buxx card, a pre-paid "credit card" that can be used for ATM withdrawals or at anywhere Visa is accepted. It's specifically designed for teenagers. I got it for my son before he went to Germany last year and it worked like a charm. I can load more funds on it via the Web as needed, track his expenditures, and not worry about the ATM/Debit card for our primary checking account floating around Europe (which is what I had done the previous summer when he went to Germany on his own). This year I also got one for my daughter when she turned 13. The only hitch I can see is if they lost it; you can cancel it so that it couldn't be used by anyone else, but then you'd need a back-up plan to get money to him, like traveler's checks. The Web site is www.visabuxx.com.
Jun 16th, 2005, 06:58 AM
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DO NOT USE VISABUXX! This card is marketed to teenagers but the computer system is bad and customer support worse. The card has malfunctioned regularly since I got it in May - my daughter is now in Europe and the card does not work (I cannot add funds). Visabuxx is "researching" the problem (translation - doing nothing). Also, there are limits on how the card can be used that are not disclosed in the cardholder agreement. We are having to wire money to her at great expense and inconvenience. The "customer support" people, even the "supervisors" seem to know nothing about their job.
Jun 19th, 2005, 08:34 AM
#20
Kathy: I am sorry that you are having such problems with the Buxx card. I'm glad we did't pursue that option. My son leaves tomorrow with 180 in Euros, 100 in Euro travelers checks, and two ATM Visa check cards. We'll see how it goes. Thanks again for all your replies.
