Allow Card Prepaid MasterCard

Allow Card Prepaid MasterCard Designed Exclusively for Teens

The old fashioned allowance just got a modern makeover! The Allowance Card for Teens. Makes a terrific Christmas gift.

The new Allow Card takes the concept of allowance and updates it for 21st century, available nationally, this new tool provides lesson plans and parental controls that help teach your child how to manage his or her own money safely and conveniently.

In response to a growing epidemic of financial illiteracy among the nation's youth, Allow Card of America, Inc., today unveiled the Allow Card, a prepaid MasterCard Card issued by MetaBank created specifically for kids and teens. The Allow Card prepaid MasterCard is part of a larger system featuring online account controls and tools, as well as financial lessons and interactive games designed to teach fiscal responsibility to America's youth.

The Allow Card is the first form of plastic specifically designed for kids and teens. No more asking for money for shoes, school supplies and a night out at the movies - now parents can put a pre-determined amount of money on the Allow Card each month - and kids can use it accordingly. The system also has parental control options so families can limit the way the card is used (unlike ATM cards.) There are no finance fees, interest rates or overdraft fees - teens cannot overuse!

The Allow Card prepaid MasterCard is aimed primarily at youth --and is geared toward helping them get a grasp of their allowance and finances, establish a better sense of trust with their parents and learn valuable life lessons, while still giving them financial independence. Further, the personalized Allow Card prepaid MasterCard is accepted at millions of locations that accept MasterCard debit cards, making it a convenient way to pay for everyday items.

Parents will have a better way to give and track allowance monies using this hands-on financial training tool, and our youth will have a better way to pay for their needs that is safer than carrying money.

The heart of the Allow Card prepaid MasterCard program is its online portal. From there, parents can load finances to the Allow Card prepaid MasterCard from any credit card or checking account, 24 hours a day, seven days a week. That way, teens are assured access to their allowance when they need it. Because of the nature of the debit system, teens can't over spend their account and rack up debt. Another feature ...The Allow Card prepaid MasterCard has NO overdraft fees.

The website offers over 35 parental controls, allowing parents to set parameters for their teens spending. The site even allows parents to lock out specific merchant categories, so teens can't spend money at undesired locations.

The website also features a variety of constantly-updated online financial lessons and games to break the bonds of financial illiteracy among youth. After successful completion of monthly lessons, areas of a virtual gaming world are unlocked for the teens to explore.

Allow Card Financial Lessons

Lesson 1 - Introduction 1

  • Using Your Allow Card prepaid MasterCard® in Seven Easy Steps Sample lesson

Lesson 2 - Introduction 2

  • What's My Life

Lesson 3 - Income 1

  • Introduction to Income Describe lifestyle choices & advanced education benefits

Lesson 4 - Income 2

  • Identify sources of Income
  • Job applications/Interviewing

Lesson 5 - Income 3

  • Understanding your pay stub

Lesson 6 - Income 4

  • Conclusion to Income Set

Lesson 7 - Visit to the Virtual Mall - Spending Introduction 1

  • Identify your spending habits Spend the money at the Virtual Mall (set amount of money with hidden timer)

Lesson 8 - Spending 2

  • Compare and contrast sources of spending

Lesson 9 - Spending 3

  • Explain cost comparisons, wise shopping, etc

Lesson 10 - Spending 4

  • Identify planning strategies to prevent running out of money

Lesson 11 - Spending 5

  • Create a budget for yourself

Lesson 12 - Spending 6

  • Conclusion -After identifying spending habits, revisiting the mall with timer
  • Include timer, visit more than one shop as you travel the mall to get better pricing

Lesson 13 - Money Management Introduction 1

  • Visit to Virtual Bank- tour of the bank Introduction

Lesson 14 - Money Management 2

  • Discuss a nest egg Explain a savings account, accountability and growth

Lesson 15 - Money Management 3

  • Describe financial debt, credit cards and negative interest

Lesson 16 - Money Management 4

  • Explain how to use money-management tools available from financial institutions

Lesson 17 - Money Management 5

  • Design a plan for earning, spending, and saving choosing the best solution; checking account, savings account, CD, true interest

Lesson 18 - Money Management 6

  • Revisit the Virtual Bank and open an account (s) at the bank (figure how much to save and work from there)

Lesson 19 - Investing Introduction 1

  • Introduction includes visit to the Virtual Stock Market

Lesson 20 - Investing 2

  • Describe reasons for investing

Lesson 21 + Investing 3

  • Explain investments for students
  • Explain how different factors affect the rate of return of investments

Lesson 22 - Investing 4

  • What you can invest in; risk, types, part of a company

Lesson 23 - Investing 5

  • Compare and contrast investment information sources
  • Identify and explain agencies that regulate financial markets

Lesson 24 - Investing 6

  • Revisit the Virtual Stock Market, choose and purchase a portfolio to watch your stocks for your visit buy or sell to end with a profit or loss

Allow Card Program Benefits

"A number of studies have shown that our youth are inadequately prepared for financial responsibilities once they leave home. We believe it's vital to get parents and teens on the same page about finances," said Allow Card of America's Chief Executive Officer, Marla Beans. "That's why we developed our website as part of the overall Allow Card program. It's a place where both parents and teens can check the status of accounts, as well as a site where teens can learn about finances. This is an excellent way for parents, teens and preteens to develop a sense of trust as they talk about money situations."

Visit the website for more information about the Allow Card prepaid MasterCard.

Meta Payment Systems, a division of MetaBank, offers card issuing and program support to banks, processors, and third-party distributors seeking to develop, market and manage prepaid debit cards. Meta Financial Group, Inc. (NASDAQ NM: CASH) is the holding company for MetaBank.

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Updated November 9, 2007