The Current card teaches kids about smart spending

12.05.2017 Finance : Technology : Digital
Current card Current card
Current card Current card
Current Card Current Card

US – The app-controlled debit card helps children to monitor their finances and enables their parents to supervise their transactions remotely.

In today’s fast-paced, always-on world, Millennials often lag behind older consumers in terms of acquiring key skills needed for adult life such as being financially responsible. The Current card, which enables users to shop independently in-store or online, is designed to foster financial intelligence in younger generations.

Parents use the Current app to deposit an allowance into their child’s account and control aspects of their spending, including blocking certain establishments such as bars and casinos, and closing the card. They can also assign tasks to their child that unlock monetary rewards once completed, and a Giving Wallet feature enables users to easily donate to charity.

‘I worked on Wall Street for 17 years as a trader and manager,’ explains found Stuart Sopp. ‘Now, as a father, I wanted to build something with financial discipline that would help my daughter.’

The Big Picture

  • In line with our Neo-kinship macrotrend, parents are increasingly turning to technology as a support system to help educate their children
  • The Current card follows ASB Bank’s project to teach financial responsibility to members of Generation I