Viva Kids World The Mystery of Digital Money
Level of knowledge: master
Level of knowledge: professional
Money Is Still Money
Level of knowledge: expert
Nowadays, we can shop not just in stores, but also online.
To do this, we don't go to a store, but look at what we want on a seller's website.
Instead of using an actual shopping cart, we click on items to place in our online shopping cart.
Instead of standing in line at the cash register to make a purchase, we have the items sent to our home.
Digital money is used to pay for purchases. Either we receive a bill that we then pay by transferring money.
Or we can pay directly on the website, for example using TWINT.
The items are then sent to our home by post.
Online Shopping and Payments
Invisible, But Not Free
We cannot see digital money, but we also buy things that are invisible. Even though we cannot touch them, they still cost money and we have to pay for them. For instance, the music we buy online or a movie that we download. Sometimes games for your cell phone also cost money. Can you think of more examples?
What Digital Money Experts Know
1. Although digital money is invisible, you still have to earn it.
2. It is in an account at a bank. You can withdraw it from an ATM and convert it to cash.
3. Or you use digital money to pay – for example, with the Viva Kids Debit Mastercard, your cell phone, or a transfer.
4. You need a personal identification number (PIN) to make sure that payments using digital money are secure.
5. You can also use digital money to shop online. However, you need to keep a close eye on your income and expenses.
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Have you received some cash? Drop it in your Digipigi. You can also put your money into your Digipigi in the app.
In the overview, you can see the amount of cash that is now in your Digipigi.
Bring your Digipigi to the bank, where your cash will be deposited into your account and converted to digital money.
You also get digital money if your parents transfer your pocket money or pay for doing a chore to your account.
Have you already done a chore but not been paid yet? If so, you will see the amount under "Pending."
Then, if you use your Viva Kids Debit Mastercard to take out money, you will have less digital money and it will be converted back to cash.
You are also spending digital money when you use your Maestro card to pay at a store. This means you have less money.
This Is How Your Cash Becomes Digital Money
There are two accounts in your Viva Kids Banking Package. One is there for saving. This account is called a savings account and gives you more interest. The other one is called a private account. This is where your pocket money or pay for chores goes. This is also where money gets taken out if you use your Viva Kids Debit Mastercard to withdraw money at an ATM or pay for something at a shop.
Account Statement, Please!
There are annual account statements for your Viva Kids account. An account statement gives you an overview of your account. On it, you can see exactly how much digital money you have and how much you have spent and earned. Have a look at your account statement. It will also show you how much interest you have received.