Page 47 - The Magazine of AAA Ohio Auto Club – September 2020

Prepaid Cards:
Help Your Teen Develop Money Management Skills
Today’s families with teenagers and young adults often choose reloadable prepaid cards to simplify budgeting and help youth learn money management skills and disciplined spending.
With prepaid cards, cardholders have control of how much they spend and can reload funds when necessary. The cards are not linked to a bank or credit account, which means there is no credit check required and no borrowing money, running up debt, overdraft fees or paying interest on a balance.
Popular options, like online account access and smartphone apps, help prepaid cardholders monitor card balance and recent transactions, track spending targets and stay on budget. As primary cardholders, parents can easily stay informed of card activity by activating text and email alerts. As secondary cardholders, youth can spend independently, but only what’s loaded to the card.
Card issuers and major payment networks, such as Visa, provide critical security features in today’s prepaid card market. Two significant features include chip-and-PIN technology, to limit payment system fraud, and a zero- liability policy, to help ensure cardholders aren’t responsible for unauthorized transactions. Unlike cash, a lost or stolen card can be replaced and some networks offer emergency services like cash and card replacement.
Reloading a prepaid card is easy, enabling cardholders to access funds quickly. Cards can be loaded automatically through direct deposit or a checking or savings account and there also are options to reload with cash or checks.
Enjoy all of these benefits and multiple reload options – including AAA locations, fee-free* ATMs and more – with a AAA MemberPay Visa Prepaid Card. Purchase one at your local AAA or get more details at AAA.com/MemberPay.
* While this feature is available for free, certain other transaction fees and costs, terms and conditions are associated with the use of this card. See cardholder agreement for more details. Card is issued by MetaBank®, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and can be used everywhere Visa debit cards are accepted.
A CERTIFICATE OF DEPOSIT YOU CAN COUNT ON
Find out why AAA and AAA members like you trust Discover Bank® with over $2 billion of their savings. Call today for current rates and to learn more!
AAA members get preferred member rates on select terms*
Flexible terms from 3 months to 10 years
FDIC insurance up to the maximum allowed by law
Call 1.800.347.7056
Mention Invitation Code CLBAD20413
*The Selected CD terms that receive Preferred Rates are subject to change without notice and are determined at the sole discretions of Discover Bank.
Visit aaa.com/deposits or call 1.800.347.7056 to determine what CD terms offer Preferred rates.
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