Citibank Introduces New Citi Cash Card for Students.Business Editors NEW YORK--(BUSINESS WIRE)--March 27, 2002 Not A Credit Card -- The Pre-Paid, Reloadable Card Comes With A Built-In Spending Limit, Peace-of-Mind for Parents and Real World Money Lessons for Young Adults Citi Cards today announced the launch of its Citi(R) Cash Card for Students, the prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. card that allows parents to give their teens a
head start on financial responsibility while helping them gain essential
money management experience. The card offers parents the ability to
control how much money their kids spend and monitor where they spend it.
Teens get the freedom of using a card in their own name. It's an
opportunity for parents and kids to work together to build their
financial future, and it can be managed on-line. The Citi Cash Card can
be used anywhere MasterCard is accepted worldwide, including ATMs.
Responsible Spending Today Helps Build Financial Security Later When it comes to developing money skills, it's never too early to start. The Citi Cash Card is a tool to help parents teach their kids aged 13 and older the value of budgeting, saving and responsible spending. Not a credit card, the Citi Cash Card is a prepaid card that parents set the spending limit on by pre-loading it with money. Each purchase or withdrawal is deducted de·duct v. de·duct·ed, de·duct·ing, de·ducts v.tr. 1. To take away (a quantity) from another; subtract. 2. To derive by deduction; deduce. v.intr. from the balance on the card. Unlike credit, there are no interest fees on purchases and no monthly payments. "Citi Cash Card is a valuable new tool for helping parents and teens stay connected during the crucial time young adults are becoming independent consumers," said Citi VP and Business Manager Gina Doynow. "With the Citi Cash Card, students can show their parents they are responsible and capable, while parents can remain involved by guiding teens to wise spending decisions. Easier than checks, safer than cash, and virtually debt-proof, the Citi Cash Card can be a teen's first--and best--step into the world of money management." The Citi Cash Card is a convenient way for parents to ensure that their kids have money if they need it, without carrying a lot of cash. Unlike cash, which when lost is gone for good, a misplaced mis·place tr.v. mis·placed, mis·plac·ing, mis·plac·es 1. a. To put into a wrong place: misplace punctuation in a sentence. b. or stolen Citi Cash Card can be reported and replaced. And since the Citi Cash Card can be used wherever MasterCard is accepted - and used only by the cardholder card·hold·er n. One who holds a card, especially a credit card. card hold -- it is essential for emergencies.
Citi Cash Card is available to young adults aged thirteen and older. Students under sixteen require a parent or other adult to apply for them and load money onto the card. Those aged sixteen and over can apply for the Citi Cash Card and load money on their own, though Citi advises parents to stay involved through helpful advice and direction. Financial Education and The Future Of Banking Are A Click Away Catering to teens' Web-centric lifestyle, all Citi Cash Card account activity is accessed online. The accompanying password-protected Website, www.cashcard.citicards.com, provides cardholders with simple online account management and easy-to-understand information on smart spending and budgeting. Parents and their kids can access and review information - from recent purchases to account balance - and load money on the site. No more waiting for monthly statements to arrive in the mail. Parents can monitor their kids' spending in real time online as well. Money can be conveniently loaded to a Citi Cash Card from a MasterCard or Visa credit card, or from a checking or savings account Savings Account A deposit account intended for funds that are expected to stay in for the short term. A savings account offers lower returns than the market rates. Notes: . The card balance can be replenished from a computer or telephone any time, day or night. Online customer service provides secure access to important account features and information, and telephone service is always available to the cardholder if an Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the connection is not. As with any bankcard bank·card n. A card issued by a bank authorizing the holder to receive bank services and often functioning as a debit card. , there are nominal fees associated with the Citi Cash Card. Load money onto your Citi Cash Card using a Citibank debit A monetary amount that is subtracted from an account balance. A debit from one account is a credit to another. See credit. or credit card, or a Citibank(R) checking or savings account and the $1.50 per transaction load-fee will be waived. The Citi Cash Card has an annual fee of $25.00. To apply for the Citi Cash Card for Students, visit www.cashcard.citicards.com. About Citibank Citibank is part of Citigroup (NYSE NYSE See: New York Stock Exchange : C), the preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company with some 200 million customer accounts in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , Banamex, and Travelers. Additional information may be found at: www.citigroup.com. |
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