On June 15, Verizon announced the launch of Family Money, an app designed to help kids foster their financial literacy skills. Family Money is the second financial product and the latest family-centered product from the telecom company, who worked with fintech Galileo to build and manage the app.
Family Money is designed to help its customers’ kids understand how finances work so they can develop crucial financial skills like spending, budgeting and saving. The Family Money app comes with a spending account, a prepaid debit card issued by Metropolitan Commercial Bank, and a savings vault.
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