Re: Anyone see any risk here?
07-12-2012 08:52 PM
The risk? He may never grow up and you'll be doing stuff like this forever.
There's a good chance he can overdraft with a debit card and end you up with a nottion in ChexSystems, too!
Also I believe that most savings accounts have limits on the number of transactions that you can do each month. Not sure why that is, but I seem to recall seeing something about limits. So it may stop it from working or might rack up a lot of fees for excessive usage.
Has he considered using a reloadable pre~paid debit card ?