Looking for a better way to give your kids money, allow them the freedom to spend it and teach them money management at the same time? We may have the answer for you with the American Express Bluebird Card.
We’ve talked about the Bluebird card here on the site before, along with some of the features and my experience loading money and spending with the card. Today we’d like to talk about one of the features that I think parents will like the most. With Bluebird you have the ability to create up to four separate subaccounts, right from your online account. This is how Bluebird explains a subaccount:
A Sub-Account is an account associated with your Bluebird Account that you establish for another person. It’s a convenient and flexible way to give family and friends access to your money, but maintain control over how much they spend and how they spend it.
A Sub-Account is linked to, funded exclusively by, and controlled by the main Bluebird Member. A Bluebird Member can have up to 4 Sub-Accounts.
This subaccount gives your teen/young adult the opportunity to have their own Bluebird card with funds that you fully control. They can use their card at virtually any merchant that accepts American Express. And you can also view their purchase activity online. There are multiple ways for you to load money on the card including my favorite, going to Walmart and making a cash deposit that’s available immediately.
BMWK family, how do you give your older kids money? Would the Bluebird card come in handy for you?
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[...] the ability to set up sub accounts for our older kids that allow us to teach them financial responsibility at a young [...]