LONDON (AP) — For kids growing up in today's cashless society, the piggy bank is going virtual.
Father of two Roland Hall turned to a British startup's digital pocket money app because his kids were still too young to get their own bank cards from traditional banks.
With prepaid debit cards linked to the app, Hall's kids, aged 8 and 10, can spend their allowance and chore money by shopping online or by tapping at contactless payment terminals in stores.
The app is part of a wave of digital money apps combined with prepaid cards for kids as young as six that parents have access to. They are powerful new money management and savings tools that replace old-fashioned piggy banks and account passbooks.
