Mastercard Young, first Romanian debit card for kids and teens

The product is attached to the current account offer GeniusCont Junior and offers financial and non-financial benefits to minors and their legal representatives.

This card it is primarily a useful tool for financial education for children who have the opportunity to use on their own and safely digital payment methods and personal fund management.

Additionally, there are benefits related to delivery costs, contactless payment, access to Mobile and Online Banking services, and security cashout protocols.

Mastercard Young has a daily trading limit at POS of RON 200, which can be changed at any time by the legal representatives of the Mobile / Online Banking application. For future projects, minors have the option of saving by direct credit transfer to the Junior Savings Account.

Mastercard Young debit card, attached to the current Junior account, has zero delivery costs (issuance and administration) and can be issued in RON, EUR or USD. Both registered and legally qualified customers have transparent access to card transactions in Mobile and Online B@nking applications.

“By launching Mastercard Young, UniCredit Bank proves once again that it is the bank for the things that matter and it is with the clients who are concerned about the financial education of their children from the earliest age and want to accustom them to being responsible and independent . Moreover, the card offers ease of use and transparency in use, with parents constantly accessing the transactions made by children through Mobile and Online B@nking. Whether we are talking about first savings or spending money on what they want, Mastercard Young will help the young to gain confidence in their own financial decisions”, said Septimiu Postelnicu, Executive Vice President of Retail Division UniCredit Bank.

According to the issuers, the card is easy to use, with the contactless payment system (no PIN entry to POS for payments below RON 100) and provides added security with the special security protocol that does not allow its use for withdrawals cash at ATMs or for expenses inappropriate for children.

With the Mastercard Young debit card, children can buy books, school supplies, games, movie tickets, snacks but will not be able to make payments to merchants in categories such as casinos, pharmaceuticals, tobacco products, gambling or petroleum products, will not be able to withdraw cash or make mail order / telephone orders or Cash Back to POS.