The older your child gets, the more they seek their independence. with opinions on everything, a unique style, a growing circle of friends and new habits. And, naturally, their own smartphone. This journey will culminate at 18, marking their official entry into adulthood.
If your child is aged 10-18, now is the time to start giving them pocket money online from your mobile. It's a move that not only enhances their independence, but also teaches them valuable money management skills.
Online pocket money undoubtedly makes you the coolest dad or savviest mum in the world. However, it also solves problems for many other equally important reasons.
1. Ensuring your teen never goes cashless
During adolescence, your child starts venturing out on their own – attending classes, hitting the gym and maybe even hanging out with friends on weekends. And let’s not forget the parties.
So it's crucial to ensure they're never without money in case they run out or lose it. By giving them pocket money online through their mobile, you can instantly transfer funds to the prepaid digital card in their smartphone wallet, even when abroad.
2. Keeping tabs on their spending
Constantly scrambling for cash to give to your teen can be a hassle. It's easy to lose track and not know just how much they spend. And, naturally, you can’t be sure where they are actually spending their money.
With online pocket money, you can set daily spending limits and monitor the balance on your teen's card. You also receive notifications on your phone every time they use the card, giving you insights into how often they go out, where they hang out and what they buy.
This knowledge gives you the chance to talk with your child and guide them if you feel they are spending recklessly, making purchases you don't agree with or even giving financial favours to friends in exchange for social acceptance.
+ Gaining peace of mind
Children are often exposed to various risks. Their eagerness to explore the world may expose them to potentially harmful products and services, both in stores and online. The myAlpha Vibe app, which is specially designed for children, offers peace of mind, as the digital card can't be used for transactions at off-licence, betting agencies, pawn shops, dating services, and more.
The surge of delinquency in adolescence is certainly a matter of concern for you. A way to protect your child is if they don’t carry cash, so as not to be targeted by muggers. With online pocket money, your child can shop using their prepaid card or through their digital wallet and biometrics. If they have their card or their smartphone stolen, they can immediately block the card with their own mobile.
myAlpha Vibe: Bridging generations
Now that you know the benefits, discover the modern and secure way to give your child pocket money online with myAlpha Vibe. As long as your child is aged 10-18.
Through your mobile app, you can issue a physical or a digital prepaid card for your child, easily loadable from your mobile. They can use it in Greece and abroad, even after they turn 18.
Find out how to activate and manage myAlpha Vibe and get answers to your questions about this unique programme from Alpha Bank.
