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PayPal is acting responsible or at least pretending to be by helping parents tighten their children’s spending. The new system, PayPal Student Account, provides parent with an easy way to give their children some financial independence (a check on their spendings to be precise). It lets parents create up to branch their main account into four divisions (at most)  and thus distribute an amount in cash at one time or fix it up as a recurring one (pocket money). The money children have can be spent on any Web site that accepts payment via PayPal. It also facilitates easy transfer by simply texting get $(followed by the amount) to PayPal, which upon approval from the parents is transferred.

Call it saving parents from the every day squabble when it comes to their children asking for cash or putting some sort responsibility upon the young ones to spend money efficiently, I think it’s going to work both ways, until the bright kids figure out a way to transfer cash at will (you know what I am talking about).