Startup Current offers parents to open a children’s debit card, and a bank account for working teenagers
Nowadays, the progressive part of the youth begins to earn money before graduation. Choking a couple of hours after classes for themselves, guys and girls manage to get the necessary professional knowledge and earn the first money. Now they can store them not only in cash, but also in a bank account. This opportunity is given by the startup Current, which has recently updated the list of its services. In addition to the children’s debit card, teenagers can now open their own bank account. Thus, the company continues to develop an educational program for parents and their children on the ability to use their own resources.
What is the purpose for creation children’s debit card and what opportunities a bank account provides
It is no secret that among parents the practice of financial remuneration of their children for success in school and performance, for example, of everyday tasks is popular.
Current users make such payments to a child debit card managed through the application. This allows fathers and mothers to control expenditure of children and control their purchases by blocking dangerous categories of expenditure. For example, they can disable the possibility of buying train tickets as insurance so that their child does not suddenly go anywhere. The benefit is also obvious for teenagers – they learn to manage the earned funds and get more responsibility. But now the Current startup has gone even further. Its new function as opening a bank account is designed for those children who are already working on the job. It can be a promotion activity or a position in the fast food network, which are willing to hire young people.
Nowadays, most banks allow teenagers to open an account only if they have regular wages. Current has no such restrictions. According to the CEO of the company Stewart Sopp, modern teenagers start working already during school, and some of them even take the first steps in creating their own business. In this case, they simply need a bank account where they would store their funds and make their own payments. Thus, thanks to the new function Current young boys and girls can control the flow of money, analyze spending, and parents can provide financial support in a convenient way. Current works on a subscription that costs only $36 per year. As of March 2019, the startup services are used by more than 200,000 people around the world.