It comes as no surprise today that our lives are busy. Everyone has a lot on their plate and communication is very important if we want to teach and protect our students. Today we can use technology to our advantage when watching out for our student’s financial well-being.
Wouldn’t it be great to know when your student uses their debit card and what purpose? Now we have the ability to do just that.
Using our new Surety Bank app, you can monitor all your student’s activity instantly from your mobile device. There are two major benefits of having this technology at your finger tips.
Protect your student
Knowing where your student is using their debit card can give you the ability to keep track of where their money is being spent. If a purchase doesn’t seem quite right or seems to be in an area where your student isn’t or shouldn’t be, you will know immediately and work to find out what is happening.
Being able to setup customized alerts will allow you see your student’s pattern of use. And knowing this will help you know if a fraudulent purchase is made or the card has been stolen or even lost. Having this level of attention to your student’s debit card activity will help you have peace of mind.
Teach your student
As you can already see, the alerts allow you to get valuable information about how your student is using their money. This information is perfect for helping them learn to manage their money well.
If you have younger children who are in middle or high school and it might be their first exposure to managing money, you can use some of the tactics available in the app to give them guidance or boundaries. For example, if you are concerned they may spend more than a desired amount if left unchecked, you can set a daily spending limit on their debit card.
Also, if you know there are certain areas or places you don’t want them to be able to use their card, you can restrict those places so their card will not work there. When teaching a student how to manage their money, giving them a little bit of rope can help them learn the right way without failing too bad right away.
Restrict your student’s debit card and use it as a way to monitor their allowance. If you want them to only have access to $20 each day, set this restriction and they will have to learn to manage their budget for the day.
How does it work?
Once you’ve setup a student checking account, it’s pretty easy from there. Just download the Surety Bank app from Google Play Store or the iOS App Store. Then walk through the steps of setting it up with the student account you own. It is very easy to activate. All you will need is information on the debit card.
If you are currently banking with Surety Bank and have a debit card associated with any checking account, you just need to download the app on your mobile device for free and connect it to your debit card.
If don’t currently have a checking account with Surety Bank, the next step is to set one up! You can call us or stop in one of our branches to get that account setup and then download the Surety Bank app and connect it to your checking account. If you need further assistance downloading and using the app, we will be glad to help walk you through it.