Paypal's New Student Accounts

What could they want? By the time you can get one for your kid, they already own you.

Originally Posted by yaw1800

The idea of it seems too simple... Paypal has got to want something before they give out those cards ......

[oge]

I was looking at this too. Kind of wierd that the kids get a card after 15 days and I think you can have up to 3 kids on your account. It lets you transfer funds from your bank or PayPal balance to the account.

[MOONCRICKET]

Originally Posted by GreenBean

You need to think?

This would make it easier to take out money. Am I right?

[static]

This all sounds great, but I just can't see it working out so perfectly. I can't believe that paypal would be so strict as to where and who they'll send paypal debit cards to, but they'll be fine now, to send "student cards" to people who haven't submitted any address proof (since many "students" won't want the cards sent to their parents confirmed address), and who haven't themselves been premiere account holders for 90 days or whatever it is. I just see this resulting in a whole lot of "parents" with limited accounts (and new required docs like "proof of guardianship", to remove the limitations). =(

[SECondplaygames]

I bet it's SSN for each one of those cards/kids, like a META bank card. Providing the illsuion they kids are establishing their credit early. lol.

[newtools]

interesting, I hav'nt looked it up yet but I would like to see how this plays out.
I think it may work like the Walmart student cards. You have to verify the parents ssn then you can order the 3 cards in whatever kinds names. But you will still have one account and the ability to send money to any of the cards. Paypal may limit your ability to send funds from your PP balance. If they don;t then would be great.

open accts. in ⊗⊗⊗⊗ kids names up to 3. and cashout to the kids cards. I'm not sure if you can have any balances in the kids accounts cashed out of used. I think if the ⊗⊗⊗⊗ kids accounts have $$ coming in from sellers accts that might be a red flag.

[slapped]

Originally Posted by philly387

PayPal on Tuesday is introducing a new service for parents with kids who are in high school or college. Called Student Accounts, it centers on the use of a special PayPal-branded Mastercard debit card that's tied to a parent's PayPal accounts. The parent acts as the provider and can funnel money in whenever they feel like it at predetermined dates, or--at what will most-frequently happen--the behest of their kids......

Read full article:

PayPal targets students, parents with debit cards | Web Crawler - CNET News

F%ck!ng Paypal, Always Comming with New Angles to Get their GREEDY Paws on your money, Sure now "Parents" must Keep More Money in Paypal accounts for their Kids,,, Then they find some Lame Excuse to "Limit" your account and hold your Money and collect interest on it for 6 Months.

Don't worry, Let me see what this New thing is all About, Then I figure out a way to make them Regret it