How do PayPal Cards Work?
When a parent opens an account for their teen's personal use what restrictions are there? My mom is considering opening an account for me and I was just wondering how does it work for you? does the money come from your parents bank account if you don't have one? Do spending have to be monitored? Is this a good option for teens? Those are just questions I have off the top of my head and I would appreciate any information anyone has on this subject. Thanks!
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It works just like a prepaid credit card. They can put money on the card as they see fit. A lot of parents do it because it's safer then carrying cash, but you can't get any over draft charges and you are not going to fall in debt by like you would with a real credit card because you can only spend the money that's there. They are popular in college so that students parents won't had to get their child out of debt.