Lloyds TSB under fire because of teen bank cards
Lloyds TSB has suffered criticism this week as debit cards have been issued to children as young as 11.The cards can be used to buy things off the internet.
One Father has complained to the bank after he discovered that his 15 year old son had used a debit card from Lloyds TSB to buy cheap cigarettes, Viagra and a fake ID off the internet.
Previously children aged 11 to 15 who have current accounts were restricted to cards which could only be used in cash machines or in branches. However the new cards are now Visa enabled which means they can be used anywhere displaying the Visa sign.
Parental consent is not required for the new cards.
Lloyds TSB maintains that it is the parent’s responsibility to keep a check on how children are using their cards. They also said there are safeguards to stop the cards being used on adult websites.
Lloyds TSB said “In line with industry practice, we have started to offer customers under 16 the option to have a debit card. Importantly, we do incorporate restrictions which are unique to Lloyds TSB.
“The debit card does not allow customers’ to go overdrawn and prevents purchases on websites with adult content or gambling sites.
“When we wrote to these customers we involved parents; including parental guides in initial correspondence and when the card arrives.
“The parent or guardian could request the card wasn’t issued or at any time block it immediately if it is mis-used.”
Liberal Democrat Treasury spokesman Vince Cable said the bank was trying to “seduce” customers at an early age and that Lloyds TSB were “clearly motivated by short-term greed”.
See www.lloydstsb.co.uk for more information on the bank their accounts.
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