The neobank Osper is for kids and parents who want to save and manage money on their own with a prepaid debit card and smartphone app. You can learn how to get started with Osper in full here: 

What is Osper

Osper is a finance website for kids and teens. It provides:  

• Prepaid debit card for kids (parental control). 
• Mobile Budgeting and Spend Tracking App. 
• Add-ons for financial literacy and budgeting. 

Key features of Osper

Parental Controls: Parents have access to monitoring and controlling spending in the app. 

No Overdraft: No threat of using more than the balance. 

Real-Time Alerts: Get live updates on card activity. 

Savings Goals: Reminds kids to save money for later. 

Perfectly Safe: PIN Security, Block/unblocking. 

Setting up an Osper account

It involves the following steps:

Sign Up

• Go to [Osper’s website](https://osper.com) or the Osper app on the App Store or Google Play. 
• Become a parent. Fill in your details (name, email, phone) and accept the terms and conditions. 

Purchase the card

• Once your account is created, buy your child an Osper card. 
• Add your kid’s name and other details. 
• Get a small subscription (monthly, or annual, depending on the plan). 

Insert the card

• Once you receive the card in the mail, activate it using the app and type in the card information. 
• Feed money to the card by bank transfer or debit card. 

Features for parents

• Be Flexible with Costs: Be flexible with how much your child can spend. 
• Frozen instantly: Lock the card in an instant in case of loss or theft. 
• Real-Time Tracking of Transactions: See each transaction in real time. 
• Automatic Pocket Money: Automatically create pocket money each week or every month. 

Features for kids  

• Punish no risk: Pay with the card online or in-store, like a debit card. 
• Spending history: Balances and spending history in the app. 
• Budget: Set spending goals and track. 
• Begin Budgeting: Understand money management first-hand. 

Using the Osper card

• Outside Stores: Carry it just like any other debit card (contactless/chip-and-pin). 
• Online Shopping: Verify the card information online. 
• ATM Withdrawals: Withdraw cash when parents are set up. 

Managing the Osper account 

For Parents:  

• Open the Parent Dashboard in the app to load money, see your spending, and set up. 
• Learn about your child’s spending habits and advise them. 

For Kids:  

• Manage pocket money on the app, see balances, and check if you hit any spending targets. 

Security measures

• Cards have a PIN, and you can block/unblock the card from the app anytime. 
• Funds are protected by FCA (UK). 
• Notifications for Parents and Kids of Spending. 

Subscription costs

There is usually a monthly or annual fee for Osper. Prices are per location and plan you select. Please check pricing on the Osper website or app. 

Closing or cancelling the account

• Navigate to the app’s Parent Dashboard Settings. 
• Follow the instructions to close the account and claim a refund of your balance. 
• Destroy the card for security.  

Benefits of Osper

Preferred by Parents: Feel safe in knowing your child is mastering financial literacy under supervision. 

For Kids: Learn real-life money management while having fun. 

Neobank failure: How to avoid

If neobanks want to be profitable, then they must stay ahead by innovation. They have to constantly find, build and release new features that customers crave. The technical infrastructure has to still deliver a platform that’s scalable and innovative and avoid the same old technology rut that’s held back the evolution of old banks. Neobanks are so vast and the exploding mobile and Internet usage rate has made a favorable environment for their explosive growth process. As more people adopt and trust AI/blockchain, the number of new banks will rise and the banking landscape could shift. But pressure from rivals and the mature banking system is an existential risk and one to be tread carefully with.

These are the steps you can take to configure and use your Osper account. It’s a great teaching tool to teach young people money-saving habits!

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