These days, prepaid cards are more popular than ever. When sending a child off to college, a major concern on every parent’s mind is money. How will my child receive money? What if an emergency happens and their account balance is low? What if they need money for food? This is where rapid! PayCard can help ease your family’s worries.
Prepaid cards are easy to obtain and widely accepted. These cards are easy to reload, especially online. With rapid! PayCard money is available as soon as it is transferred – no wait time. So if an emergency situation occurs, or your child is short on money for the month, the rapid! PayCard will come in handy with its quick-transaction asset.
As a college student, transportation can be difficult. Some students own cars, but parking can be limited on most campuses. More often than not, students walk to class on campus, use a bike or rely on public transportation to travel off campus. With these transportation limitations, online shopping can be a great solution for shopping. Prepaid cards can be used online to make safe and secure1 purchases, pay bills2 or even get cash at an Automated Teller Machine (ATM).
In the event of a lost or stolen card, a replacement card can be easily obtained. No one is perfect and college students are still learning how to be independent and mindful of their belongings, losing a wallet is a common occurrence and with the rapid! PayCard, a replacement card can be ordered by telephone while being able to cancel the stolen card at the same time. The new card will be there in a short seven business days. No need to worry about not having access to money.
Parents who are currently using prepaid cards find that it is a great tool to control the child’s spending, transfer them money swiftly without having to make a trip to the bank, or make their child wait for a check to arrive in the mail. A main part of the appeal to the rapid! PayCard is technology, since your account can be easily accessed and monitored via our mobile app- rapid!Access3.
Many college students rely on financial aid and scholarship programs, such as Florida Bright Futures, and these programs can direct deposit your money onto your rapid! PayCard. This eliminates a majority of the time it takes to wait for a check to come in the mail and then depositing it into your account.
The rapid! PayCard doesn’t require any kind of credit check4, you set your limit and don’t have overdraft fees. This gives your child a great sense of independence while learning the basics of managing a budget.
Considering all of this, a rapid! PayCard is a great choice for college students. There is no need to go to the bank, wait in line and deal with the usual hassle. Being away from home and having the ability to control your account electronically is a huge convenience to both students and parents!
1Funds are FDIC insured. MetaBank® or The Bancorp Bank® are FDIC-insured members. For additional information regarding FDIC insurance and what it means for you as a cardholder visit fdic.gov/consumers
2This optional offer is not an issuing bank product or service nor does the issuing banks endorse this offer.
While rapid! PayCard does not charge for this feature and service, standard text messaging, data and cellular rates may apply. Please check with your cell phone carrier and inquire about fees your carrier may associate with these services.
4Because this is not a credit card, your credit will not be checked.
The information contained in this article and any other article do not reflect the views of rapid! PayCard®.