Family Card

MFSL's Family card is to help families budget, share funds and control children's spending. A pack of two or more cards for all family members where weekly budgets can be securely transferred to each member by linking their individual cards that have different spending limits. A family card provides security and convenience in allocating the weekly budget for each family member while providing parents with the visibility and control over their children's spending and enables them to instantly share funds in case of an emergency via a simple text message.

How Does it Work?

The family acquires a family card set, a primary card for the head of the household and secondary cards for the partner and children and even a dependant abroad. The primary card can be used as a payroll card and hence loaded by an employer. Alternatively it can be topped up via any of the standard prepaid card top up methods . Funds can then be transferred to the secondary cards automatically or on demand via a simple SMS. A child can have one of the secondary cards, which can be topped up via such transfer from the parent's card on demand or through a recurring transfer weekly or monthly allowing the child to make purchases on ebay or iTunes without directly involving his parents, nevertheless giving the parents complete visibility into where the money is spent and control on how much the child is allowed to spend. A relative living abroad can also receive supporting income on his card via an affordable international money transfer.