Paris - A new company, Pix Bay, has been set up in France to convert the pocket money that parents give their children into a digital pocket bank. PixPay ´account and get a borrowing card and manage his pocket money via smart devices.
The TechCrunch website specializes in technology topics that children and their parents download the application Peaks Bay on their devices so that parents can transfer pocket money to the account of their children digitally.
According to the new service, a few days after the establishment of a child´s PixBay account, he can get an electronic payment card offering the same services as bank cards, as well as the possibility of creating a password and receive notifications of all transactions on the account. The card can also be used for online payments or ATM withdrawals.
The new service also allows the child to save his money for several months so that he can buy any expensive item he wants. Parents can also provide interest on the amounts in the children´s account so they can teach them to save.
PixBay also allows parents to specify a certain amount that is transferred weekly or monthly from their account to the children´s account or send a one-time amount to the child.
The French company receives a monthly fee of € 2.99 per card, while purchases and withdrawals from the Internet in the euro-zone countries are free of charge. However, a fee of 2% is charged on any non-Euro currency transactions and a charge of EUR 2 when withdrawing from an ATM outside the Eurozone.
