How to Raise Youngsters’ Financial Literacy

Youngsters can now have their first financial experience thanks to neobanks, which offer online banking for teenagers who need financial independence, something they couldn’t find in traditional banking. What products can they enjoy? More than they could imagine.

Many of you may be wondering if you can get a prepaid card under 18 years old, since before turning 18, many do not have the means to manage their own resources, so they must constantly ask their parents for money to be able to make simple purchases, to venture on trips or interesting projects that can change their lives. Certainly life is full of opportunities and the sooner you can take advantage of them, the better!

In order to give young people the means to begin to explore life and learn to manage their resources, neobanks, such as Blackcatcard, offer a wide range of products that can positively impact the future of teenagers, teaching them how to use money and plan their finances. So, how old do you have to be to get a prepaid card or open an account? Well, from the age of 16, anyone can open an IBAN account free of charge and get a prepaid card for teenagers at Blackcatcard.

This gives them access to the most basic and important services of an account, for example storing money without maintenance fees – for which users can get a 2.2% per annum reward on the funds in the account – or making up to 5 free SEPA transfers per month – from the sixth onwards there is a small fee of 0.20 Euros. Of course, receiving incoming transfers is free of charge and has no limits.

Going out with friends requires everyone to pay for something. It is very popular to pay with digital means and to transfer money if necessary. This possibility is also available in the Blackcatcard app, as its users can transfer money to each other quickly and without any limit. It is worth noting that teenagers, like any other client, can get bonuses in Euros together with their friends if they refer others to open a Blackcatcard account, a reward that makes the service very attractive from the very first moment.

In addition, when they open an account they receive a virtual and a plastic card to use in any type of store, digital or physical, for which they can receive cashback from 0.1% up to 5%. In fact, if they order additional plastic cards, they can personalize them with whatever name they want and best represents them, such as a diminutive or a cool nickname.

In fact Blackcatcard, as a modern online banking provider, offers these products for free, with rewards or at very competitive costs in the market, which is an advantage for teenagers who do not have enough resources to have accounts with high maintenance fees or bear several charges for using financial services.

This commitment of neobanks to young people is a real win-win nowadays. Today’s teenagers grew up with technology. It is not surprising that managing their finances 100% online is easier for them than doing it in the old-fashioned way, like their parents or grandparents used to do it.