PayPal Student Account
It seems PayPal offers a unique way to let parents and students manage their money. PayPal now launches new student account which can be setup by parents and offer purchasing power for students. This student account works just like other normal PayPal account but with a new feature. Other accounts can be added on to it. It not linked to outside checking accounts. Instead, all transactions flow through the parent’s account.
I search online and found a video about this new account. Below is an interview from MarketWatch’s Jonathan Burton with PayPal vice president Don Fotsch.
Detailed information about the student account can be found at https://www.paypal.com/studentaccount.
According to PayPal this new account is good for both parents and students:
- Spending is limited to what’s available in the account
- Provides visibility to all transactions
- Promotes healthy dialogue about money
- Shop online with PayPal and in stores with the Student Card
- Learn to manage money
- Enjoy freedom and independence in a safer and more secure way
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