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Confessions of a Prepaid Parent
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Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
6/19/2014 | 9:13:01 PM
re: Confessions of a Prepaid Parent
Clever move by PayPal to market their product specifically to parents with students, a market that's perfect for prepaid.
Kelly22
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50%
Kelly22,
User Rank: Author
6/19/2014 | 5:22:17 PM
re: Confessions of a Prepaid Parent
Interesting story here, and a great example of how prepaid cards can be used to help parents teach financial responsibility and introduce kids to mobile banking.
LeeGordon
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50%
LeeGordon,
User Rank: Apprentice
6/19/2014 | 1:20:58 PM
re: Confessions of a Prepaid Parent
rmoldenhauer: I chose PayPal's Student Account (a sub account with a prepaid card). Of all the prepaid cards I researched, only 3 offered allowance-specific parental controls. Of these, PayPal's offered the strongest feature set and cheapest pricing. --Lee Wetherington
rmoldenhauer
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rmoldenhauer,
User Rank: Apprentice
6/18/2014 | 8:05:18 PM
re: Confessions of a Prepaid Parent
What is the prepaid card Lee chose?
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
6/18/2014 | 6:28:16 PM
re: Confessions of a Prepaid Parent
I think prepaid definitely has the potential to replace checking and debit as the gateway product for young customers to make their first foray into financial services. Your story illustrates the usefulness for the customers and their parents. Add to that the fact that its cheaper for a bank to service a prepaid account than a checking account, and I think you have a recipe for success for the prepaid industry.


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