New Age Prepaid Cards Invade College CampusesWhat could be the need for a prepaid card finally invading the younger college-going segment?When a student leaves for college or goes to a foreign city he leaves with a hint of nervousness and vulnerability in mind and if we add more financial hassles to his life, he might get more distracted from his sole objective of making a career and spend more time sorting out his financial obligations.The student prepaid card comes as a flexible, mobile, convenient, and hassle-free experience you could give to your student.
From streamlining all his financial obligation from fees, scholarship disbursement, canteen, and gym to endless miscellaneous expenses he can easily wave off with a prepaid card.Underrated Benefits of Student Prepaid Card:Saving you from constant trips to ATM or bankFlexible: Amount can be easily reloaded according to your need, saving you from overspending with a defined spending limit you wish to haveYou can easily monitor all your financial expenses through your mobile phone, giving you a transparent reality check on your financial spendingWith student prepaid cards you are prone to less risk of financial fraud or scams.Lastly, the most important benefit is the convenience it comes along with seamlessly streamlining all your financial expenses easily BankIT Student Card vs. Credit and Debit CardWhen we compare BankIT Student Card with Debit card are somewhat similar.
With both cards, you can easily make payments that are usually accessible at most places.A key difference that we can pinpoint is Bank Student cards are specifically curated for managing student college and other financial expenses, hence you can have a clear track record of the amount you actually spend on it.
They are safer and secure, flexible as your parents can easily reload the amount they want and save you from frequent ATM or bank trips, whereas with a debit card you might have to take those trips at times.
BankIT Student Card VS. Credit CardWhen we compare BankIT student prepaid cards with credit cards we can easily pinpoint various differences.With a credit card your credit history, the previous lending is considered while applying for one, whereas with a Student Prepaid card you do not have to worry about such things.OverspendingGiving a credit card to your child with the flexibility of him easily borrowing the amount in case of need can make him a bit more careless, he might not be able to understand the value of money plus the financial burden of credit taken will always be in his min.Whereas with a student prepaid card you can easily load a specific amount in his account after understanding his monthly expense journey, having a certain amount in his account will help him refrain from overspending making him more careful towards financial expenses, with the flexibility of you can reload the amount when he actually needs it.
Final Words:The more cumbersome or complicated the financial tool you consider for your child, the more irresponsible or stressed it would make him.