Student Emergency Fund 10 July at 9:20PM in Student Money Saving 2 replies 54 views

Jay_PMG

My daughter is off to uni soon and I was thinking of giving her a prepaid Visa/MasterCard topped up with a few hundred pounds to use incase of emergencies. I trust her implicitly, and know for certain that this will not be frittered away on general day to day spending. 
However, I have heard bad reviews about these cards, and so I am looking for a way I can give her this money safely, and preferably in the form of a card in her name so that she has easy access if she needs to use it. I don't want to pay it into one of her own bank accounts as she doesn't know I'm going to give it to her just yet. 

sheramber

Can you not transfer the money to her bank account once you have told her you are giving it to her?
My husband  was given one to cover expenses for a project he was on. Unfortunately, the number on it could not be read and he had to wait for a new card to be issued . Meanwhile he had to ask others to pay for his meals etc as the place they were staying only took these cards.  

Jay_PMG

sheramber said:

Can you not transfer the money to her bank account once you have told her you are giving it to her?
My husband  was given one to cover expenses for a project he was on. Unfortunately, the number on it could not be read and he had to wait for a new card to be issued . Meanwhile he had to ask others to pay for his meals etc as the place they were staying only took these cards.  

I didn't want her to keep it in her bank account. I wanted it to be a separate thing that can only be used in case of an emergency.