Last updated at 14:52, Friday, 27 July 2012

A chip and pin Visa card for children as young as 12 has been launched.

The Visa CitizenCard also acts as identification, displaying a child’s date of birth and photograph.

Parents can load the card – which costs £15 to buy – with between £10 and £5,000 and can keep track of how the money is being spent. It can be used for payment in shops or online but not as a credit card.

People aged under 16 need their parents’ consent to apply for the chip andpin-secured photo ID card and parents can then manage the card directly and pay pocket money on to it, those behind the scheme said.

There is no cap on the amount that can be spent on the card per transaction but users can only spend up to the total loaded on the card.

The number on the card also identifies whether someone is over or under 18.

Cards can be used in stores and online but those held by people aged under 18 will not work at retailers selling age-restricted items.

The card carries no monthly or annual fee but costs £15 to purchase and charges £1 when it is used at cash machines in the UK and £2 abroad.

It can be loaded free of charge by bank transfer, standing order, online banking or at any branch of Barclays.

First published at 14:05, Friday, 27 July 2012
Published by http://www.cumberlandnews.co.uk