Bank sends debit cards to kids
A manager at Lloyds TSB bank in the U.K. had a “brilliant” marketing idea — send debit cards to kids as young as 11 years old. The real kicker is that they sent the cards without notifying parents or asking for their permission.
Politicians and debt groups are up in arms, with Vince Cable, the Lib Dem’s Treasury spokesman, quoted as regarding the move as “deeply dispiriting”.
It isn’t so much that children should not in any circumstances be allowed a Visa card. The crux of the issue is that Lloyds TSB has been sending out cards without informing the parents or guardians of the children.
Lloyds TSB’s excuse is that it can’t be sure of the addresses of the parents or guardians - last week it told me that they won’t necessarily have an account with them and so it won’t always have their contact details.
Information from: http://blogs.guardian.co.uk/money/2008/0...
