"Best" Visa Gift card?

[TimeKeeper]

I am looking buy a bday gift for my little nephew, but I really have no idea what to get.

Friend suggested it will be a good idea to get him a visa gift card which

1. required little or no monthly fee.
2. "Hopefully" able to add more funds from different sources, direct deposit, online transfer, paypal? Maybe his grandma like to add some money, if he gets good grade? )
3. online transaction tracking.

Do you gentleman know which one is the best?
thanks for your suggestion~

 

[OCGuy]

"Gift cards" that allow you to re-fund with things like direct-deposit are now starting to be regulated under the FDIC, and require your SSN, etc in order to comply with the Patriot Act.

I know "Green Dot" at Walmart and others like that are subject to those regulations.

 

[RossMAN]

Do you belong to a local Credit Union?

Have you checked with your bank?

http://www.fatwallet.com/forums/finance/1092848/

http://www.bankrate.com/finance/credit-cards/compare-gift-cards.aspx

 

[TimeKeeper]

"Gift cards" that allow you to re-fund with things like direct-deposit are now starting to be regulated under the FDIC, and require your SSN, etc in order to comply with the Patriot Act.

I know "Green Dot" at Walmart and others like that are subject to those regulations.

I see. Now come to think of it, prevent money laundry?

 

[TimeKeeper]

Do you belong to a local Credit Union?

Have you checked with your bank?

http://www.fatwallet.com/forums/finance/1092848/

http://www.bankrate.com/finance/credit-cards/compare-gift-cards.aspx

I haven't talk to my bank about it. I thought it will only be few hundreds dollars, I don't think they would care. LOL

Earlier today, I was looking around in TARGET and sales person doesn't seems to know which one is better.

p.s. your link helps a lot!!! tks

 

[Brainonska511]

Why not just give him a check or cash?

 

[OCGuy]

I see. Now come to think of it, prevent money laundry?

That is the the "justification" for it, although really has to do with terrorism and database building.


But on the other side, if it isn't really just a "gift" card, and you are having your pay-check deposited on to it, would't you want the funds to be FDIC insured?

 

[RossMAN]

OCGuy was spot on, I would probably get the Walmart prepaid card if it has to be reloadable and convenience is important to you.

http://giftcardblogger.com/difference-between-visa-reloadable-prepaid-card-and-visa-gift-card/

 

[TimeKeeper]

Why not just give him a check or cash?

Actually, I am thinking it is about time for him to manage his allowance even though he is only 16.

 

[RossMAN]

I would recommend reading this and taking a few notes: http://www.businessinsider.com/debit-cards-for-teens-be-responsible-dont-go-prepaid-2011-4

http://usa.visa.com/personal/cards/prepaid/visa_buxx.html

http://learn.bankofamerica.com/articles/money-management/money-management-for-teenagers.html

http://www.cnn.com/2012/04/17/opinion/granderson-son-debit-card/index.html

https://www.paypal.com/us/webapps/mpp/student-accounts

 

[TimeKeeper]

OCGuy was spot on, I would probably get the Walmart prepaid card if it has to be reloadable and convenience is important to you.

http://giftcardblogger.com/difference-between-visa-reloadable-prepaid-card-and-visa-gift-card/

Thanks guys...

Money card seems like a good choice!

 

[RossMAN]

Thanks guys...

Money card seems like a good choice!

Actually I would open a student checking/savings account with debit card, I started mine when I was 14 a long long time ago.

 

[TimeKeeper]

Actually I would open a student checking/savings account with debit card, I started mine when I was 14 a long long time ago.

LOL... I was 14 also... 30+ years ago.
Thanks, Buxx looks good too!

 

[RossMAN]

LOL... I was 14 also... 30+ years ago.
Thanks, Buxx looks good too!

You're welcome.

Do you still write excellent GPS reviews and tutorials?

 

[TimeKeeper]

You're welcome.

Do you still write excellent GPS reviews and tutorials?

I have shift to android~
mobile and tablet..


BTW, nexus 7 is a good choice! I have play with it for couple months.
Tab 2 7.0... on the other hand... well... if you can get one for less than $135, I will not stop you.

 

[edro]

omg, stop with the gift cards!!!

Just give cash!

 

[Jimzz]

Actually, I am thinking it is about time for him to manage his allowance even though he is only 16.

Then open a bank account and get him a debit card that does NOT allow overdraft. Check with credit unions as many allow very low amounts but do not charge fees or close it.

Win win IMO.