| How do I load money onto my child's card? |
Loading Money into a child's account is easy. You can do it the following ways:
From your Reserves:
1. Log into your Young Money Manager Account.
2. Select the Parents Page tab.
3. Select the child from the pull down menu.
4. Enter the amount your want to add.
5. Click Submit.
This requires that you have money in your reserves account. If you do not you can do one of the following:
ACH and Bill Pay (Bank of America)
Account Name: Young Money Manager
Account Number: 05336 44554
Routing Number: 510000655
Cash Deposit
1. Go to any Bank of America branch.
2. Fill out a deposit slip with the following information:
Account Name: Young Money Manager
Account Number: 05336 44554
Your Name : Write your First and Last name is the address field on the deposit slip.
Child's Name: Write the First and Last name of the child in the address field on the deposit slip.
Check
1. Write a check for the amount you wish to add to the child's account.
2. Write the childs name on the bottom of the check.
3. Mail the completed check to the following address:
Young Money Manager
P.O. Box 27502
Oakland, CA 94602 |
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| How do I add money to my reserves? |
Loading Money into your reserves account is easy. You can do it several ways:
Credit Card
1. Log into your Young Money Manager Account.
2. Select the Parents Page tab.
3. Select the 'My Card' Option.
4. Enter any amount to add to your reserves.
5. Click Submit.
A 3% fee will be added for credit card reloads.
ACH and Bill Pay (Bank of America)
Account Name: Young Money Manager
Account Number: 05336 44554
Routing Number: 510000655
Check
1. Write a check for the amount you wish to add into your reserves and mail it to the following address:
Young Money Manager
P.O. Box 27502
Oakland, CA 94602
Cash Deposits
1. Go to any Bank of America branch.
2. Fill out a deposit slip with the following information:
Account Name: Young Money Manager
Account Number: 05336 44554
Your Name : Write your First and Last name is the address field on the deposit slip.
Child's Name: Write the First and Last name of the child in the address field on the deposit slip.
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| Can family and friends load money onto my child's card or into their account? |
Yes. Any relative, family member or friend can add money to a child's Young Money Manager account. Please instruct family and friends to sign up at http://www.youngmoneymanager.com
You can also sign up family and friends by logging into your account and clicking on the Friends Tab.
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| Does my child's account earn interest? |
| Currently we do not provide interest on a child's account. We are looking into providing ways to do so. If this is something you would like to see made available at Young Money Manager, please let us know by sending an email to info@youngmoneymanager.com. |
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| Is Young Money Manager a bank? |
| Young Money Manager is not a bank. We provide educational software tools to help families manage their financial relationship with their children and dependents. We do provide a debit card component but we are not a bank. |
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| Do I have to pay an annually for a membership? |
| Yes. The annual membership fee is $48. |
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| Are there any fees when using the card? |
| In general, no. There is no fee to make a purchase or buy something using your card. If you travel abroad there are currency conversion fees and transaction fee. If you make a ATM withdrawal there is an ATM associated with those kinds of transactions. |
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| Are there any fees to load the card? |
| No. There are no fees to load money onto the card or into an account. The $48 annual fee provides you unlimited loading ability. |
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| Is the account and card program secure? |
| Yes. The Young Money Manager card program is secure. If your card is lost or stolen, please call us immediately so we can close the card and secure your funds. |
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| Can my child use the card abroad? |
| Yes. The Young Money Manager Mastercard Debit card can be used anywhere in the world that Visa and Mastercard is accepted. |
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