San Diego, CA (PRWEB) August 19, 2011

The following conversation is repeated in living rooms across the country, on a daily basis:

Parent: “Where did all your allowance/money go?”

Teen: “I don’t know.”

Now parents have a new solution for the inevitable where did your cash go conversation – the instantly track-able, reloadable SpendSmart Card from BillMyParents helps parents teach their teens smart financial habits and track spending in real time without the risks associated with credit cards, bank cards or cash. With instant text alerts to both parents and teens showing real time transaction details each time the teen uses the card; the ability for parents to instantly lock or unlock the card at any time from their mobile phone, smart phone or online; and the ability for parents to instantly load funds on the card at anytime the card provides a tool for the real world.

“Most teens and young adults still live in a cash world, which doesn’t teach them anything about the world they will enter as an adult,” said Evan Jones, vice president of marketing for BillMyParents. “Our SpendSmart Card gives parents the tools to engage in meaningful conversations about money, while moving their children toward financial independence with its various control features.”

The BillMyParents card gives parents a set of tools not available with any early card on the market. It moves teens into a plastic, non-cash environment in a safe, educational manner. It is a reloadable MasterCard prepaid card, providing a slew of valuable services, including:

    Instant Text Alerts – Parents and teens receive an instant alert each time a purchase is made, showing existent-time transaction details, as well as the leftover balance on the card.     Instant Lock/Unlock – Parents can instantly lock & unlock their teen’s SpendSmart Card at anytime via their phone or online.     Add Funds – Parents can easily add funds from their phone or online on an one-time basis or as a recurring monthly allowance.     Not Credit/Debit – The SpendSmart Card is not a credit card, so there is no credit risk for parents or teens. The card is preloaded, so teens cannot exceed the balance and incur overdraft fees as with a debit card.     Accepted in Millions of Locations – The BillMyParents SpendSmart card tin be used safely and securely anywhere debit MasterCard is accepted, including online.

Parents can access the service via the BillMyParents website, via their mobile phone or with its smart telephoned app, currently available for iPhone and soon to be offered as an Android app as well.

The BillMyParents SpendSmart Card is free to order and activate. The monthly subscription and maintenance fee is free for the first month and $ 3.95 per month thereafter.

About BillMyParents, Inc.
BillMyParents, Inc. (OTCQB: BMPI) (OTCBB: BMPI) offers the perfect solution for parents who want to help their teens develop smart spending habits. The BillMyParents SpendSmart Card is the only instantly track-able, reloadable MasterCard prepaid card that lets parents and teens track spending in real time. Features include the ability to instantly lock, unlock and reload the card at any time; text alerts to parents and teens showing real-time transaction details with each purchase; and the freedom and security of a prepaid MasterCard without the risk of overdrafts, accruing debt or affecting credit scores. BillMyParents provides parents with a modern way to help teach their teens financial responsibility, when it counts. For more information, please visit http://www.billmyparents.com.

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