bank

In this time of the crunch it’s great to be able to pay stuff off bit-by-bit in easy to swallow pieces – finance.

Even O2 has started to offer finance!

No. Really!

O2 has joined forces with NatWest to produce a couple of pre-pay cards, one for adults, and t’other – the Load & Go card for teenagers.

It’s probably best described as a debit card from the Royal Bank of Mum and/or Dad.

The olds load up the chip and pin card to their chosen limit then let their offspring to splash the cash just like regular credit card users.

They can go crazy (up-to the limit) online, in a cash machine or in any shop that shows the Visa logo.

Applicants can be aged between 13 and 16 and just need to drag a parent in to sign the form.

The card is fee-free, but as you can never go overdrawn that bit is hardly surprising

This all sounds a bit more NatWest than O2 so far – so where’s the mobile link?

Well, the kids will get real-time balance updates sent to their O2 phone.

O2 are also being a bit more stealthy than that though – they’re obviously pre-planning for that time when your phone replaces your credit card and cash.

Speaking at the launch, Ronan Dunne, O2’s UK Chief Executive, hinted that could be the case: “O2 has a strong and successful track record of innovation and O2 Money will represent a launchpad into a wide range of mobile banking services. We believe that we are at the start of a journey towards the coming together of phone and wallet and we intend, through O2 Money, to be at the forefront of this trend.”

If you happen to be a tad older than 16 but still think this is a groovy idea O2 Money haven’t forgotten about you – it’s also offering an adult version called Cash Manager, which does much the same, but instead of parents filling it, the card is fed with cash from your salary – BoooOOoOoOooo!!!!!

I might see if my folks would still fill it up though – not sure if that would work as I left home about 18 years ago………………………..

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