BB&T Introduces New Prepaid LEAP Account
WINSTON-SALEM, N.C.,
June 4, 2012 /PRNewswire/ -- BB&T Corporation (NYSE: BBT) announced today the launch of the BB&T LEAP Account, which is a prepaid transaction account specifically designed for teenagers and their parents.
"BB&T is proud to offer a product that was created for the youth segment," said Scott Qualls, Retail Payments manager at BB&T. "The LEAP Account is an ideal product for parents with teenagers and we believe it will equip them with a valuable tool to help their teenagers learn financial responsibility at an early age."
The BB&T LEAP Account can be a joint account between the parent and teenager, allowing the parent to easily transfer funds from other BB&T accounts and monitor balances and card usage. Because the card is prepaid there is no risk of overspending, damage to credit ratings or danger of overdraft fees. It can also be an individual account that a responsible teen can use to learn the basics of a banking relationship. To own a card individually, a client must be at least 18 years old.
The LEAP Account comes with a prepaid, reloadable Visa card that can be used to make purchases in person, online or by phone and access ATMs worldwide. Additional features include:
- Free point-of-sale purchases anywhere Visa debit is accepted worldwide
- Free BB&T ATM cash withdrawals and inquiries
- Free direct deposit
- Free transfers to/from other BB&T accounts
- Free online banking
- Free bill payment
- Free mobile banking and alerts
- FDIC insurance
- BB&T Complete Client Protection for unauthorized purchases if the card is lost or stolen
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