Additionally, teens can check their account balance and easily request money from their parents via simple text message.

Alerts Parents can receive alerts notifying them when their teens payments exceed a certain amount or when a specified low balance is reached. Builtin security As with all PayPal accounts, the Student Account allows teens to shop online without exposing any financial information.As a parent I understand the challenge and stress of raising kids that are financially responsible, says Don Fotsch, PayPal vice president of customer experience and design and parent of six, ranging in age from 8 to 19. With the Student Account, I know I can give my kids a level of financial independence while remaining on top of my kids spending.Parents have full visibility on the account, and can establish up to four PayPal subaccounts and transfer funds as needed on a onetime or recurring basis. PayPal giving account holders some backtoschool savings opportunities as well.