PayPal has announced a new way for teenagers to shop online with PayPal with the "Student Card," part of the "Student Account." It is currently available in the United States. The Student Account offers many features to help teens learn by doing – with their parents’ guidance:
- Permissions: Parents can set permissions for individual teens to designate how the account can be used. They can also require that their approval is required when a teen receives money in the account.
- Mobile Features: Parents can use their mobile phones to check account balances and transfer money to their teens’ account. Additionally, teens can check their account balance and easily request money from their parents via simple text message.
- Alerts: Parents can receive alerts notifying them when their teens’ payments exceed a certain amount or when a specified low balance is reached.
- Built-in security: As with all PayPal accounts, the Student Account allows teens to shop online without exposing any financial information.
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