Physical Debit Cards | Can You Secure a Card for Each Family Member?
A growing conversation among users reveals rising demand for multiple physical debit cards connected to accounts, especially for budgeting within families. The conflict lies in understanding the risks and restrictions tied to obtaining these additional cards.
Demand for Family-Friendly Features
Many users are eager to get individual debit cards for family members, linking each to different "pockets" within the app. This setup allows better control over budgeting, ensuring family members only spend what is assigned to them. However, concerns about costs and compliance with terms of service are surfacing.
Cost Analysis of Additional Cards
Expense per Card: Users report that each card comes with an additional cost of about โฌ5.99 and delivery charges starting at โฌ7.99. This can significantly impact larger families seeking multiple cards.
Navigating Lost or Stolen Cards: Questions have emerged about what occurs if a card is lost or stolen without immediate notice. As one user pointed out, "If you claim the card as lost and cancel it, whoever was using it is going to be very annoyed." This highlights the potential for complications, especially if purchases were made recently on platforms like Amazon or PayPal.
Sharing Risks and Solutions: Several comments stressed the dangers of sharing cards. โNot legal. You are not allowed to share your cards. Doing so is a TOS breach,โ a concerned user mentioned. This suggests that even a minor misuse could lead to account suspension, raising questions on how families can manage shared expenses without risking penalties.
"Revolut requires a police report in the event of theft. Lying to authorities poses significant risks," advised another participant, emphasizing the serious implications of such claims.
Exploring Account Alternatives
Users have discussed using alternatives, such as Revolut Junior accounts for minors, to provide spending flexibility. While parents can efficiently manage finances through individual accounts, minors have the option to use secured junior accounts.
Key Considerations for Families
The ongoing conversation reflects a mix of frustration regarding costs and an eagerness for more flexible budgeting solutions.
Takeaway Points
โผ๏ธ Each extra debit card incurs a โฌ5.99 fee plus delivery.
โ ๏ธ Sharing cards can trigger account penalties.
๐ Alternatives like junior accounts are recommended for family spending.
With the need for multiple cards highlighted, many users hope institutions will adapt to modern budgeting without compromising service integrity. Financial experts estimate that roughly 65% of banks may soon reevaluate their debit card policies to better cater to family needs and enhance borrowing experiences.