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Charlotte, N.C.-based Bank of America Corp. (BAC), an issuer of debit cards, Sept. 13 launched the Buxx card. Bank of America Visa Buxx is a prepaid stored value card that allows young people to learn how to use money responsibly, gives parents the ability to monitor real- time transactions and enables parents to educate their teenagers about finances. The new card provides parents with the ability to view their teen's spending habits online so they can better help their teenager understand the importance of budgeting and financial responsibility. Under the program, teens receive their own card, embossed with their name and account number, to use at places agreed upon with their parents. In addition, parents may designate gift givers, such as grandparents, who can also load value onto the card at any time. The Bank of America Visa Buxx Card also features gift certificates redeemable at specified merchants who have joined the program. Certain merchants have agreed to offer additional discounts and other incentives throughout the year when customers pay with a Visa Buxx Card. Along with the card, teens receive instructions on how to use the card responsibly. The Bank of America Buxx Web site also offers tips on budgeting and saving and links to other helpful Web sites. "Managing finances responsibly is a fundamental lesson all parents want their teenagers to learn. The Bank of America Visa Buxx card helps parents and teenagers work together to begin understanding financial responsibility," said Ken Kido, Consumer Card Executive at Bank of America. "Now, more than ever, teenagers will be surrounded by a sea of payment choices such as credit and debit cards. The sooner they learn how to use money responsibly, the better off they are. The Buxx card helps parents teach these lessons." The Bank of America Visa Buxx card is neither a credit card nor a debit card. Security features of the card include limits on the amount of funds that can be loaded onto the card and limits on the frequency and amounts that can be withdrawn from an ATM. The card also carries a zero-liability guarantee that states the cardholder will not be liable for unauthorized use of the card provided notification is given within a reasonable time of the loss or theft of the card. The accounts also have a personal identification number (PIN), a user ID and password for online access to protect the security of the account. WildCard Systems has been selected as the e-payments vendor for the Bank of America Buxx card.