Visa Prepaid Card for teenagers
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Sorry guys, I need to apologise you for not explaining the exact term for Prepaid Cards and Debit cards. Since all this while, I thought both are the same thing. Unfortunately, it’s not. I have been telling you that Tune Card from Tune Money is a debit visa card, right? Actually it is a Visa Prepaid Card. So what is a debit card then? I need to clarify the misconception about Tune Card is either a debit card or credit card.
A debit card ?
A debit card is issued by a bank to allow an individual access to his or her funds without having to physically go to the bank. A debit card can be used to withdraw cash from an automated teller machine (ATM) or to make purchases at merchant locations.
You need to have a saving account to link directly to your debit card.The concept is quite similar like writing a cheque as the fund are withdrawn from the cardholder’s bank account.Get it ? 
A Prepaid card ?
A card that will work exactly like a credit card, except that money must be deposited in it first for it to have any credit in the account.
One of Tune Money.com staff told me that Bank Negara Malaysia is quite fussy about the term used .Even Tengku zafrul, the CEO for Tune Money mentioned in his blog that, the misconception has create a bad impression about their new product Red Card, a new Visa Prepaid for teenagers age 15-17 years old.
What is a Red Card ?
Sent off during a game, NO NO.
Tune Money Sdn Bhd’s just launched Red Card is a prepaid payment card which will come as a big relief for parents as the card is like an “electronic wallet” with which they can keep a tab on the spending of their teenaged kids.
“You can only spend the value contained in the card, hence there is no risk of overspending,” said Tengku Zafrul Aziz.
A good news for parent ?
“Parents would have peace of mind as it gives them a quick and easy way to transfer money to their kids in case of emergency,” Zafrul said in an interview with Bernama. He was clarifying misconceptions that the Red Card was a debit or credit card.
Only parents is allowed to apply for the card for their children, since they are going to top up it :).
My previous post about Red Card has already mentioned about the advantages about this new Visa Prepaid Card only they target teenagers from 15 to 17 years only.Maybe Form 1 and 2 students are still young to use a plastic money.More news
ADV :
March 4th, 2008 at 10:31 pm
It is very much easy for the teenagers to use it in an effective ways…..so that they can do more than they have been expected ever.
Seocontest2008’s last blog post..How burger is not good for you during Seocontest2008
March 5th, 2008 at 1:24 am
March 5th, 2008 at 4:16 am
Good explanation about the card. It’s clear some of my confusion too….
Robo’s last blog post..Restaurant Double Lim (Assam Fish), Muar. (CNY 2008 Trips)
March 5th, 2008 at 8:26 am
Robo,
welcome to my page, my mind is clear now >_<
seo,
teenagers can carry less cash and reduce crime.
March 5th, 2008 at 9:31 am
Ahhh, so there is a difference. And the Tune Card and Red Card are two separate things too right, eventhough both are prepaid cards? I’m still interested to know about the charges though, i guess I’ll have to find out for myself.
BYE!
p.s. Thank you! I’ll check the next time i’m anywhere near there. *appreciative nod*
p.s.p.s. You can control debit card spending as well, just remove all the money from the bank account. HAHA!
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March 5th, 2008 at 9:33 am
March 5th, 2008 at 9:53 am
sean,
yup. red card are for kids like you hahha
March 12th, 2008 at 7:58 am
Dear lankapo,
Thank you very much for your support and taking the time to explain what the Red Card is all about. If we had more customers like you, my job would be much easier.
Thanks again, and look forward to seeing you at our next function.
Zafrul’s last blog post..Radio Ga Ga
March 13th, 2008 at 1:41 am
cash is king. instead of pushing plastic into kids hands, they need to be taught how to manage money first, not credit.
natural woman’s last blog post..WordPress and DST
March 13th, 2008 at 5:18 am
hi natural women,
Yup its true, cash is king, but for teenagers to carry a lot of cash is not safe this days. Let say they want to buy a laptop or computer, I dont think they are old enough to decide which model that they want and choose.
Prepaid is not a credit card, you need to deposit money first before using the prepaid card.
lankapo’s last blog post..KeADILan’s economic agenda
March 20th, 2008 at 7:15 pm
This facility is more useful for teenagers. Because so many Teenagers will do shopping. Thank you. I got the nice information about Bad Credit Online Loans, people will feel after facing problems. So to over come your problem visit the given link.
March 22nd, 2008 at 2:12 am
March 24th, 2008 at 10:20 pm
hi, for teenagers to carry a lot of cash is not safe this days. Let say they want to buy a laptop or computer. credit Cards play an important role now a days, Credit Card had emerged as mandatory for business people. We have to bevery alert while choosing of Credit Cards, because of security problems. For more details of Unlimited Credit Cards Move to the given link.
May 20th, 2008 at 3:43 pm
I have tune card now! Really great as I can use it for online. The only thing I REALLY2 NEED TO KNOW is that can I use it for installment purchase.??
This way, I want to buy a laptop but I know its impossible for me to give it full price. I saw in the advertisement that only credit card (visa/master) can be use for installment. But my card is PREPAID VISA CARD.. Can I use it?? I really need the answer.. PLEASE anybody…
May 20th, 2008 at 4:21 pm
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May 21st, 2008 at 8:00 am
Amirudin,
hi there
I don’t think they can provide monthly installment for Prepaid Visa Card. SInce in monthly installment, the bank is actually paying for you. You pay monthly to the bank and that is how the credit card work.
Apply CIMB Master card free for life then
June 11th, 2008 at 6:05 am
This is a great advantage for tennagers however, there should be also some kind of education in how to spend reasonably the money and don’t fall into the bank’s trap. We always hire tennagers in the summer season and we give them great tips about it. I’m proud to work for http://www.netpromoservices.com