BB&T Corporation hasannounced plans to launch a
prepaid product aimed at meeting the financial needs of both
teenagers and their parents.
The LEAP Account can been designed to link to
parents’ own bank accounts, enabling them to transfer funds from
other BB&T accounts and monitor balances and card usage.
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Scott Qualls, Retail Payments manager at
BB&T said:
“The LEAP Account is an ideal product for
parents with teenagers and we believe it will equip them with a
valuable tool to help their teenagers learn financial
responsibility at an early age.”
Account-holders recieve a Visa prepaid card
that offers free ATM withdrawals. The LEAP Account can also be
converted into independent account once the user is 18, so that “a
responsible teen can use to learn the basics of a banking
relationship”.
Qualls added: “The account is much safer than
cash, if the card is lost or stolen, clients will not be liable for
unauthorized transactions and funds will be replaced.”
