I have 4 kids with a USAA savings account. They all have a pre-paid card too! I love the cards... Transfer allowances, no fear for online spending (mostly video game networks), and I can control the card itself. I need another prepaid card and it sucks that they discontinued this. USAA, you were innovative on this program and you discontinued it while 90% of other banks are now offering it. Bring this program back PLEASE!!!
I have been a USAA memeber for over 15 years. I do all of my financial business with them, checking, savings, brokerage, auto insurance, property insurance, 529 college savings plans. I am not happy that they did away with the prepaid card and I wish that they would bring this card back. My daughter turns 13 next week and I had told her years ago that we would get her a USAA prepaid card when when she turns 13. Unfortunately, I have to attempt to find an alternative. USAA does not seem to understand that USAA youth checking debit card and prepaid card are two different things. If the prepaid card was not profitable enough then they could have added an annual fee like nearly every other prepaid card does. Getting rid of it entirely was a horrible decision IMO. I love to do all of my banking in one spot and am happy with the quality of service you get from USAA and the low fees. If I am able to find a bank that offers a prepaid card and can handle all of my financial needs as well as USAA then I would leave USAA completely over this prepaid card fiasco. However, I am fairly certain that there is no such bank in existance.
I totally agree with the previous comments. The youth spending account really does nothing useful. The prepaid card system was wonderful for allowances, and for teaching money management. I still don't understand why they discontinued it.
You are missing the point. It is NOT about giving my 13 year old a checking account! Our local bank is PROUD to offer prepaid cards especially because of all the fraud. Why would I give a new banking customer, my daughter who turns 13 this weekend, a debit card that anyone would then have access to her entire "account"
The prepaid card we had done for all her older brothers when THEY turned 13 was a great learning opportunity AND we had complete control.
Shame on you USAA for getting rid of this option.
Have your research people see what Fifth Third is doing with prepaid cards.
My daughter is so disappointed she is not getting her "allowance card" for her birthday.
Wake up USAA!!!
we have been banking here for years and years, and almost left when you messed up the closing on our house, but now you are seriously getting to the point where local may be better! SO DISAPPOINTED?!
I would love to see you bring back the prepaid card. Like others, I realize that there is a youth checking option, but as has already been said the prepaid option is a much better choice for kids just getting started managing money.
Please let us know if there is any hope that this will be an option again. I'm sure many users would be fine with waiting if there was a timeline in place.
I just thought I would mention that after my last post, a person from USAA contacted me by "Message". I feel like we are speaking a different language. I think we are all well aware of the products and services that USAA has to offer. It's all well and good to think that a child 13-18 years old or ever OLDER can be trusted to handle their own checking or savings account, but the reality is that many need to be "saved' from themselves. My one daughter acknowledges she cannot be trusted to have full access to her money. Yes, I could transfer it back to my parent account, but I would rather keep track of it in her checking acct and dole it out via the PrePaid card.