Pocket money for a 12 year old and bank accounts?

*Louise*

aliasojo wrote: »

Louise, what happens if he loses his lunch card? Can anyone who finds it (or steals it) use the money on it?

I assume he can cancel it and get any remaining money transferred to a new card but just wondered wha would happen if someone got hold of it before he managed to do that?

It has a PIN so anyone finding it would have to know that. Plus, transaction records are kept by the school (mainly so parents can check what their child is buying if necessary) so if he reported it missing the school would know that someone else had used it and it would be flagged up in the dining room

It's £10 for a replacement, so he has been warned he would be paying it himself lol

*Louise*

thunderbird wrote: »

I find it interesting that some posts refer to dinner money - as I see this as an essential rather than an extra?

I think most people have listed it as it's money their child is looking after/dealing with themselves.

I don't count DS's as 'pocket money' but I do count it as extra money he is getting that the others aren't.

After all, I could save myself a fortune by making him take a packed lunch (like his dad and brother) so for that reason I don't really class it as an essential.

amazamum

We have been thinking about whether to give our daughter pocket money recently as well.
DD is nearly 12 and at the moment doesnt get pocket money although we pay 15 a month into a savings acount every month for when she is older(grandparents pay into it monthly as well).
She has been told that she either gets pocket money + has to get everything she wants out of that(clothes(she has loads),trips out with her friends etc)or she doesnt get anything + mam and dad pay for what she wants(within reason),she knows shes on a good thing with mam and dad paying but still mentions it occasionaly.
she also gets money for her birthday + christmas,which this year she has decided to keep out of her bank account + I pay 15 a month for her blackberry.

Ex-Spendaholic

I think activities and location has something to do with it too (BTW, I wrote the other thread)

I have friends living in rural locations. Their children tend to be at home all the time and have no/limited access to activities.

We live in the city and my DS does do something with his mates every Saturday - swimming, gym, cinema, skating, bowling or whatever. They go for food afterwards.

As mentioned in the other thread he earns £13 a week from a paper round. He keeps that to fund his activities etc. We bank his pocket money of £10 for him. He used to get this cash in hand but he doesn't need it now that he is earning. On the plus side he never asks us for money for cinema, sweets etc as its covered.

On the flip side he has friends who say they get £5 per week pocket money but they are managing to go to the cinema, McDs, buy sweets etc so whilst they are being given £5 official pocket money they are obviously having activities paid for on top.

Seanymph

gingin wrote: »

Thanks Seany, I was hoping someone might mention Natwest as we have one a street away and I bank there and like the staff there, so I know he could go there by himself without feeling intimidated.

Can kids at that age use it in a card machine, so they can go to the cinema and pay as we would? And he can set up a paypal account as well?

Yes - they go and pay in shps with a pin number just the same as we do.

gingin_2

Seanymph wrote: »

Yes - they go and pay in shps with a pin number just the same as we do.

Thanks. I've signed him up for the Natwest account, it looked good

embob74

*Louise* wrote: »

It has a PIN so anyone finding it would have to know that. Plus, transaction records are kept by the school (mainly so parents can check what their child is buying if necessary) so if he reported it missing the school would know that someone else had used it and it would be flagged up in the dining room

At the local high school they have a prepayment system where you can load money on by cash or cheque at the school but also online
The children have a card which they swipe but also use a thumb print recognition machine. That seems a bit high-tech to me and I'm starting to think the kids have actually made that bit up :rotfl: but if they haven't it's very secure lol

thunderbird

embob74 wrote: »

At the local high school they have a prepayment system where you can load money on by cash or cheque at the school but also online
The children have a card which they swipe but also use a thumb print recognition machine. That seems a bit high-tech to me and I'm starting to think the kids have actually made that bit up :rotfl: but if they haven't it's very secure lol

They have fingerprint recognition at my son's school - no cards needed at all.

CATS

Hi OP,
My 12 year old son gets £10 a week pocket money. I also pay £100 per month into his school dinner account (with finger recognition too) so no pocket money goes towards that. Out of that £10 and other birthday, Christmas money, he needs to buy anything that is not a necessity or very expensive such as a pair of beats head phones that he wanted and games for his xbox. I buy all clothing, pay for trips etc. He also runs his Blackberry from his pocket money. I have just opened a bank account for him also which should help him control his spending.

*Louise*

Fingerprint recognition for school dinners- that's one way of getting all the local youths fingerprints on file...:rotfl: