PayPal on Aug. 11 is introducing a new service for parents with children who are in high school or college, CNET reports. Called Student Accounts, it centers on the use of a special PayPal-branded Mastercard debit card that is tied to a parent's PayPal accounts. The parent acts as the provider and can funnel money into the account at predetermined dates, or--in what will most frequently happen--at the behest of their kids. Some of the perks include no overdraft fees and the use of a debit card that is not tied to a particular bank account, meaning the balance can...

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