Student Account

2 ratings (2 Epinions reviews)
Share This!
  Ask friends for feedback

PayPal Student Account

Feb 6, 2012
Review by  
Rated a Very Helpful Review
  • User Rating: Excellent

  • Web Site Experience:

Pros:Teaches responsible money management. Visa Debit Card can be used nearly everywhere.

Cons:ATM and inside bank withdrawal fees, but most debit cards have these.

The Bottom Line: Teaches responsible spending and money management. Teens have easy access to money, as well as balance and spending information so they can easily track their spending. Easy money transfers.


The PayPal Student Account is a great way to dole out allowances, or to teach teens about spending. This account is not a secured card, nor does it do anything towards building your child's credit, but it can help teens or young adults learn how to handle money responsibly.

Although my son is the only one permitted to log into his account, there is much that I can do from my own account so even though I don't control his spending, I can supervise how well he is managing his money. Since it is linked directly to my PayPal account, it is easy to add funds or check purchases that he makes.

To get the card, I logged into my PayPal account and clicked the link to set up a Student Account. Just fill in your child's name, date of birth (must be 13+), email address and a password. Your child will be sent an email, asking them to activate their account. They can also change the password if desired.

When setting up the account, you can choose whether or not to allow your child to send or receive money, make online payments (including automatic payments), transfer money from a bank account, or use their own PayPal Debit Card, or to text you if they need cash. As the parent account, I can also temporarily block spending or receiving money if I feel the need, or I can also make other adjustments to his account. You also have the option to be notified by phone or text if your child spends over a set amount of money, if their balance drops too low, or if they transfer money from a bank account.

Once this account is set up, your child can log in and check his balance and see all transactions at any time. I have access to this information from my account as well. You can also set up transfers (one time or recurring) from your account into theirs, or you can transfer money from their account into yours if desired. Transferring money from a PayPal Account is free though fees apply for funds transferred from a credit card.

Within a couple of weeks after creating my son's account, his PayPal Visa Debit Card arrived in the mail. To activate the card, he had to sign into his account and enter the activation code from the email they sent. It just took a couple of minutes and he had full access to any funds I sent him.

The money can be transferred instantly into his account from mine, and even if I don't have the funds in my PayPal Account, he will receive them right away. It takes about 4 days for the funds to get to my account from the bank, but he doesn't have to wait for them. This works out great because he can call or text and ask for more money if needed. It only takes a minute to log into my account and transfer him money if needed.


Recommend this product? Yes

Read all comments (2)

Share this product review with your friends   
Share This!


Related Deals You Might Like...

Parent And Student Savings Account Plus Act

Parent And Student Savings Account Plus Act

Bibliogov 9781240598687 Parent and Student Savings Account Plus ACT Description The BiblioGov Project is an effort to expand awareness of the public d...
eBay

$18.20

FREE Shipping
Your Checking Account, Fourth Edition--Student Activity Text

Your Checking Account, Fourth Edition--Student Activity Text

Help your students keep track of their cash with this practical, hands-on manual. Students will learn what an ATM card is, why a checking account is u...
Christianbook.com

$13.99

+$3.99 shipping
En Greve - A Graphic Account of the Montreal Student Strike eBook

En Greve - A Graphic Account of the Montreal Student Strike eBook

Buy En Greve - A Graphic Account of the Montreal Student Strike by Ellyn, Laura and Read this Book on Kobo's Free Apps. Discover Kobo's Vast Collecti...
Kobo eBooks

$2.99

FREE Shipping
Mental Health: A Student Nurse Account

Mental Health: A Student Nurse Account

Store Search search Title, ISBN and Author Mental Health: A Student Nurse Account by Jack Bennington Estimated delivery 3-12 business days Format Perf...
eBay

$27.56

FREE Shipping
The Same High Standards For Migrant Students: Holding Title I Schools Account...

The Same High Standards For Migrant Students: Holding Title I Schools Account...

Bibliogov 9781240628681 The Same High Standards for Migrant Students: Holding Title I Schools Accountable. Executive Summary Description The BiblioGov...
eBay

$17.60

FREE Shipping
Corel Wordperfect Office X6 Home & Student (3 Pcs) Sealed Retail Box - Brand

Corel Wordperfect Office X6 Home & Student (3 Pcs) Sealed Retail Box - Brand

You are bidding on a BRAND NEW COREL WORDPERFECT OFFICE X6 HOME STUDENT (3 PCs) – Sealed Retail Box. Shipped free via USPS First Class Mail with tra...
eBay

$31.99

FREE Shipping
Fundamental Accounting Principles Student Guide For Sage 50 Complete Account

Fundamental Accounting Principles Student Guide For Sage 50 Complete Account

Store Search search Title, ISBN and Author Fundamental Accounting Principles Student Guide for Sage 50 Complete Accounting 2013 (Formerly Peachtree) b...
eBay

$53.47

FREE Shipping
Adobe Acrobat XI Professional - Student Teacher Edition, Download Version

Adobe Acrobat XI Professional - Student Teacher Edition, Download Version

Important Notice! Before purchasing this product, please be sure that you (or the person you are buying the product for) are eligible to use the Adobe...
Office Depot

$119.99

FREE Shipping
An Account Of The Voyages Undertaken By The Order Of His Present Majesty For Mak

An Account Of The Voyages Undertaken By The Order Of His Present Majesty For Mak

Published in 1773, this three-volume work proved a bestseller in its day. Taken from journals and including Cook's first voyage to the southern hemisp...
eBay

$41.46

FREE Shipping
BJU Geography Student Text Grade 9 (Third Edition)

BJU Geography Student Text Grade 9 (Third Edition)

Your students will embark on a grand tour without ever leaving home with BJU Press' Cultural Geography textbook. Each unit opens with a brief first-pe...
Christianbook.com

$55.00

+$5.50 shipping