Update: Looks like these changes will go into effect on January 11th, 2015 and existing cardholders won’t be grandfathered according to Frequent Miler.
Nationwide has updated the terms for their Buxx cards. Here is the relevant section that has been changed (emphasis mine):
When a parent orders a Nationwide Bank Visa Buxx Card for the first time, the minimum card value is $20.00 and the maximum card value is $100.00. After the Teen receives the Card, the minimum reload value is $10.00 and the maximum reload value is $200.00 per card, per week. The standard weekly transaction limit for purchases is $800.00. The maximum amount allowable for cash withdrawals from ATMs and cash advances from Financial Institutions that accept Visa debit cards is limited $200.00 per seven day period. You may elect to not allow cash withdrawals on your Teen’s Card and you may designate a withdrawal limit less than the maximum allowed. The maximum Card value is $1,000.00. If the Card has $1,000.00 available for purchases or cash withdrawals, additional amounts may not be loaded onto the Card.
In the past you were able to load $500 per week, this has been reduced to $200. They have also reduced the amount you can load initially load to $100 (previously $500). You’re charged $2 per load, so previously you were paying 0.4% in fees and now you’re paying 1% in fees.
It’s unclear if existing cardholders will be grandfathered into the old terms or if the new terms will apply to them as well. Flyertalk user aarif1 reports being able to load $500 so at the moment the new terms haven’t come into effect for new users if that’s the case.
Hat tip to greasypig on Flyertalk via @JH_AmexOffers
