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First Children's Bank Card Issued in China
The Industrial and Commercial Bank of China (ICBC), the country's largest commercial bank, began issuing special bank cards to children on November 12.
Called "Nestle Eagle Card," it is the first children's bank card issued in the world.
Young cardholders, 10 years old at least, can save and draw money in the usual way. However, a total sum of 100 yuan at the most can be drawn and consumed everyday. The card is also valid for Internet shopping.
Included with the bank card was a guardianship system, meaning that a guardian, like the child's parents, are needed to register for the card and that guardians are entitled to know information about the card program.
With the card, young Chinese are expected to cultivate a habit of using the bank card and not waste money.
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