The Family Money Virtual Card: the easy way to pay

Spend money your way. Enjoy the best of both worlds with the Family Money Spend Card and the new Virtual Card.

By: The Family Money Team

05.25.2022

2 minute read

The Family Money Virtual Card: the convenient way to pay.

Key Points

  • Enjoy the best of both worlds: customers will have a virtual card and a physical card
  • No more long waits for the card to arrive
  • Virtual Spend Cards allow kids to make quick payments through their phones
  • Existing customers just have to update the app to receive the virtual card

In our fast paced digital world we tend to expect things immediately and get frustrated with delays. Generally, ordering the physical Family Money Spend Card takes  7-10 business days. This may be a frustrating experience for some families. Family Money is happy to announce the new Family Money Virtual Card–the convenient way to shop.

Your child can have both–the physical card and the Virtual Card. The good news for existing customers is that the Virtual Card will be available in the app as soon as they update to the latest version. So while the kids are waiting for the physical Spend Card to arrive, parents can start assigning chores, paying allowances, and kids can start spending. When the physical card arrives, your child may prefer using and showing off their first card. The good news is now kids have a choice about what card they prefer to use.

According to CNBC, contactless payments were already popular in the  U.S., but the emergence of Covid increased the number of Americans using various touch-free payment methods. More than half (51%) of Americans are now using some form of contactless payment.

The Virtual  Family Money Spend Card is a  prepaid debit card, just like the physical card, but it resides in the app. The Virtual Spend Card is a reloadable Visa® prepaid debit card—not a credit card. It cannot be used for ATM withdrawals, merchant cashback, or international transactions and does not offer an overdraft feature. For added protection, additional categories where the Spend Card cannot be used are gambling, bars, and dating services.  For a complete listing of blocked categories, please refer to the cardholder agreement.   Just like the physical Spend Card, whenever the virtual version is used to make a purchase, the purchase amount is deducted from the amount of money available on the card. 

By far the biggest benefit of digital cards is convenience. How many times have you been in a checkout line and discovered you forgot your wallet? It is an especially embarrassing situation for kids. However, having the Family Money Virtual Card may eliminate this situation. Kids rarely forget their phones.  Virtual Spend Cards allow kids to make quick payments through their phones without the hassle of scrambling to find the card. Given that some kids (and adults) may be prone to misplace things, they will never have to search for their Virtual Spend Card. However, while the Virtual Spend Card is a convenient way to complete purchases, if the phone is lost or stolen, Family Money recommends that the Parent temporarily disable the card to protect the account.

Family Money offers the best of both worlds, so what are you waiting for?

Try Family Money on us for 30 days* 

*$5.99/month charged thereafter unless you cancel before trial ends.

What to read next…

See all articles
See all articles