PayPal gives young people a way to handle their finances
OnlineGuideTo.com — PayPay recently introduced an account option aimed at teens and young adults.
Parents can put money into a PayPal account students can access online, or offline with a debit card.
When the money is exhausted, teens can text their parents — who can then text PayPal to authorize a transfer of funds into their child’s account. Transfers can also be handled online.
PayPal charges students one dollar if they withdraw money from an ATM.
According to PayPal the new account option is a safer and more secure way for teens to learn to manage money.
Don Fotsch, vice president of customer experience and design at PayPal, tells MarketWatch’s Jonathan Burton how it works.
Growing Up With PayPal Accounts
More about: Debit Card • PayPal
