on
LEAVE A COMMENT!

The Chips Ship! Plus Apple Pay, Google Pay, and Samsung Pay. Hooray!

At 4:15PM Pacific on Thursday October 29, we flipped the switch on FamZoo.com to start shipping cards with EMV chips that also fully support Apple Pay, Samsung Pay, and Google Pay. Hooray! 🙂

Currently, the chip cards are only going out to new families who have registered after that cutover time. I know that’s disappointing to those of you who are existing FamZoo families with the original magnetic stripe cards.

Not to worry though. We’ll have you covered very soon!

All of our existing families on magnetic stripe cards will be upgraded at no charge over the next month or two. It turns out the auto-upgrade is a big effort, and we’re still testing a critical piece of technology from our card processor to clone your existing cards.

When the upgrade technology is ready, parents will see a new sequence of screens in the FamZoo app(lication) where they can:

Like this? Please share it!

on
2 COMMENTS

Preserve Financial Dignity For Your Loved Ones

Elderly woman receiving a hand

Recently, I received one of those heartbreaking cancellation notices we always dread. Jean wrote:

“Unfortunately, my Mom passed away so the card is no longer needed.”

It’s always so sad to hear of a loved one’s passing.

Jean was kind enough to include some additional detail:

Like this? Please share it!

on
4 COMMENTS

How To Reload Your FamZoo Prepaid Card Instantly From Venmo

Venmo Instant Transfer Confirmation

Typically, reloading your FamZoo card electronically takes 1 to 3 business days via ACH transfer. There is, however, an electronic instant reload option that many of our Zoomer cardholders have been using heavily: Venmo Instant Transfers. It’s an excellent alternative to instant cash reloads which must be done in person at a local retailer.

I tested it myself a few weeks ago. Here’s how it works:

Like this? Please share it!

on
LEAVE A COMMENT!

What's the Difference Between Prepaid Card Accounts and IOU Accounts?

“Why can’t we get the money out of my daughter’s savings account? It seems to have disappeared!”

We get that panicked question from time to time.

When money mysteriously “goes missing” in FamZoo, an IOU account is almost always the culprit.

In a typical scenario, the parent inadvertently sets up an IOU account for savings and allocates a portion of allowance or chore payments to it. Later down the road, the parent is dismayed to find that no real money has accumulated in the account. Instead, an unanticipated debt has accumulated that must be paid off to the child.

To understand how this happens, let’s back up a bit. Think of the classic money jar system that parents often use with kids for separating spending, saving, and giving.

Like this? Please share it!

on
LEAVE A COMMENT!

Why Your Kid's No-fee Overdrafts Carry a Hidden Cost

We never ding kids (or parents) for overdrafts. Trying to spend more than the amount loaded on a FamZoo card results in a harmless decline without a fee. Of course, I hope the decline induces a slight twinge of embarrassment as a reminder to check the balance next time. 😳

So, no-harm-no-foul if our kids repeatedly hammer away at the cards with Xbox, Spotify, and iTunes charges they can’t cover, right?

Not quite.

Like this? Please share it!