Verizon debuts financial literacy program for kids

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Verizon has introduced a new tool for parents to help their kids as they take charge of their financial future. Verizon and non-Verizon customers can try Verizon Family Money for 30 days on us — a new, easy-to-use app and prepaid debit card that allows kids to save, spend, earn, and become money-savvy.

Parents can step back and watch their kids become financially responsible as they help manage from the sidelines. Verizon partnered with Galileo, the API standard for card issuing and digital banking, to create the fintech platform Family Money is built on. The Family Money Prepaid Visa Card is issued by Metropolitan Commercial Bank.

Digital Innovation

With Family Money you can:

Empower them to learn: kids can track spending, complete chores, and grow their savings with app features that encourage financial skills.

Watch them grow: parents can monitor spending, set up allowance, see purchases, and let kids make decisions while watching them succeed.

Stay in control: make rules, lock cards or set spending limits for up to 5 prepaid debit cards in the app.

What you get

Kids get an app designed with them in mind, including a spending account with a prepaid debit card to make purchases online and at retail stores and a savings Vault to save for future goals.

Parents are always in control and can have peace of mind with tools like blocked spending categories. Parents can also:

Set chores, assign rewards and manage allowances.

Instantly transfer money from the parent Wallet to kids when needed.

Get real-time alerts and spending notifications.

Lock or freeze a card if lost or stolen

“With Family Money, we’re showing what’s possible when tech and financial services come together. Building on the success of products like the Verizon Visa® Credit Card and the tools we already have for families as they grow with us, like the Verizon Smart Family service and GizmoWatch, Family Money provides even more value to our customers based on their unique needs. It’s the perfect way to help kids learn the ins and outs of managing money and yet another way we’re providing real benefits to our customers outside of the reliable connectivity they know and love us for,” said Todd Oberstein, Executive Director Product Management and Development at Verizon.

Start the 30-day trial

Not a Verizon customer? Not a problem, Verizon and non-Verizon customers can download the Verizon Family Money app from the Google Play and Apple App Store. Then, create a Verizon Family Money account and link a verified bank account.

At the end of the 30-day trial period, the service auto-renews for $5.99 per month. Family Money customers will not be charged on their Verizon bill. The $5.99 fee, which includes up to 5 kids, will be debited from the parent’s Wallet in the app. Customers must be 18 years or older to create a parent profile in the app. Kids accounts are designed for kids ages 8-17.