Paypal launches The Student Account. The days of withdrawing cash or transfering money from bank for your kids to buy things on their own are long gone.

With the Paypal student account, parent with an existing PayPal account can transfer funds to their kids or the parents sub-account.

As a parent, you have the ability to monitor your kid’s spending habits as you can set a limit for their online purchases.

Some other Paypal’s Student Account features:
* Parents can set permissions for individual teens to designate how the account can be used. .
* Parents can use their mobile phones to check account balances and transfer money to their teens’ account.
* Parents can receive alerts notifying them when their teens’ payments exceed a certain amount or when a specified low balance is reached.

You can check out the Paypal Student Account here.