January 19, 2001, 12:00 AM

DoughNET, USABancShares Offering ATM Card

Kids' e-commerce company DoughNET.com has joined forces with virtual financial institution USABancShares.com to launch what they say is the "first and only" ATM card designed specifically for teens.

The card enables teens to withdraw money directly from their own personal online bank accounts. With a $1 opening deposit and a parent or guardian's co-signature, young adults can now go to DoughNET.com and open a USABancShares.com joint bank account offering an optional ATM card specially designed for DoughNET.com members. The no-fee ATM card option limits withdrawals to $40 daily and refunds five monthly service fees, up to $10, imposed by ATM owners. The addition of USABancShares.com online bank accounts and ATM cards now makes it possible for teens to handle all aspects of their money--from the withdrawal of currency at ATMs to online banking, shopping, saving and donating--in one place, says the San Francisco-based firm.

Also, Philadelphia-based USABancShares.com will donate $5 for every online donation of $10 or more a DoughNET.com member makes to one of DoughNET.com's nine featured nonprofit organizations. DoughNET.com will match USABancShares.com's $5 donation for a minimum total donation of $20 to the member's chosen nonprofit, it says.

DoughNET.com is a manage-your-money service for young adults where they can bank, shop, save and donate online without a credit card. Customers can open online FDIC-insured bank accounts directly connected to more than 80 online retailers and nonprofit organizations including: Alloy, Barnes & Noble.com, CDNow, Esprit.com, Eve.com, Footaction USA, Fogdog Sports, Illuminations.com, K-Swiss.com, pacsun.com, Sanrio.com, Shop.Eonline.com, Skechers.com, Rainforest Alliance, Rock the Vote and The Humane Society of the United States.

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