american express travelers checkcard
Jun 29th, 2005 | 01:51 PM
#22
Joined: Jan 2003
Posts: 2,049
Likes: 0
The checking account with an ATM card is the best solution, as long as you get a free checking account, and a bank that doesn't impose additional charges on use of a "foreign" ATM.
The only downside is that you don't know how much the 100euro you just drew reduced the balance in your account. I haven't seen an ATM receipt that included this information. The solution is to find a bank that gives you internet access to your account; you can then put a true dollar figure in your checkbook once the transaction has posted.
I agree that children need to be taught how to handle money, but they also need experience. I would suggest you, as the acting parent, let him handle his money, as long as he is willing to discuss how he is handling it with you.
The only downside is that you don't know how much the 100euro you just drew reduced the balance in your account. I haven't seen an ATM receipt that included this information. The solution is to find a bank that gives you internet access to your account; you can then put a true dollar figure in your checkbook once the transaction has posted.
I agree that children need to be taught how to handle money, but they also need experience. I would suggest you, as the acting parent, let him handle his money, as long as he is willing to discuss how he is handling it with you.
Jun 29th, 2005 | 02:36 PM
#23
Joined: Jan 2003
Posts: 13,194
Likes: 0
<<The only downside is that you don't know how much the 100euro you just drew reduced the balance in your account.>>
One possible solution... the boy's parents put a few extra hundred dollars into his account as "overdraft" protection ("overwithdrawal"?) - - and he simply need to know that he should not withdraw more than 800 euros (say... 200 euros, a maximum of four times).
And of course, lessons can be dispensed, as needed, on how to make wise purchases - - ideally, he will return with over half of the intial $1000 still in the bank - - to build towards the <i>next</i> trip!
One possible solution... the boy's parents put a few extra hundred dollars into his account as "overdraft" protection ("overwithdrawal"?) - - and he simply need to know that he should not withdraw more than 800 euros (say... 200 euros, a maximum of four times).
And of course, lessons can be dispensed, as needed, on how to make wise purchases - - ideally, he will return with over half of the intial $1000 still in the bank - - to build towards the <i>next</i> trip!
