Current is an app-controlled debit card for kids
Current is a new startup that wants to take allowances into the modern age through an app-controlled Visa debit card, via TechCrunch. It’s a clever idea at its core: credit cards are more prevalent than ever these days, and this is a way for parents to help kids safely learn how to use them, which isn’t a bad thing.
Current allows parents set up both recurring allowances for kids or one-time batches of money, and it gives plenty of control when it comes to things like shutting off the card and blocking groups of retailers (like bars or hotels) or specific stores. And both parents and kids will be able track their spending in the current app, which could help with teaching lessons like financial responsibility.