What is the best debit card for teens?

Please Answer: How would I start a pre-paid debit card business for teens and under 12s, is it a good idea?

• I had thought of this idea before, but recently just discovered PayJr. It made $3.4 million in revenue in 2008 and offers reloadable prepaid debit cards for teenagers and under 12s. For teenagers it costs a monthly fee of $3.95 and for under 12s it has no monthly fee but a 59 cents fee to re-fill the card. Its main service is a chores and allowance system. I want to offer a slightly similar service, but also offer financial education since I love and know a lot about finance and my mother is an accountant. I will also offer some other services to teens to make it attract more teens but I don't want to say them in case they get stolen. I have a lot of entrepreneurial experience and I read a report targeted towards teenagers that like business that advised them to 'build a business on something you love, a passion' and I love finance. I think this service would offer a safer alternative to cash and it's other services will make it offer more and therefore get more teens to join. Hopefully I can expand it to other countries. What do you think, is it a good idea? Why or why not? How can I get started? Thanks!

• Answer:

  it's a good idea if you have the money and can find an audience to buy it. http://www.simple-small-business-ideas.com/