Parents of college aged-kids or those getting ready to leave home...

[gatorsmom]

How does your child handle their bills and bank accounts at college? Do they keep a checking account in their home town or college town? Do they receive cell phone and credit card bills at school? Are they in charge of their car insurance? Did you set up bill pay for regular bills and they keep track on apps and websites?

For the life of me, I can’t remember how my parents and I handled this when I was in college. I must have paid for the phone bill with my roommate but I can’t remember where my money was. I had a job and I don’t remember if my checks were direct deposited. This was the early 90’s and it was still a new thing. Maybe I had an account at a bank with a local branch nearby? I don’t remember at all. Complete amnesia.

Everything is so different now. I could see our kids managing their accounts from phone apps and laptops. But I just thought I’d check with you all. How does your kids handle their bills and bank accounts when living away from home?

[SnuggleBuggles]

I’m not anticipating him having any bills. 🤷*♀️ We have a family cell plan and have no plans to change that. Pretty sure phone bills for a landline in the dorm aren’t really much of a thing anymore.
For other expenses, online bill pay. For paychecks, mobile deposits work fine. Venmo type things to send them $ are popular.
You don’t need to think this all through now. When the school gets chosen (admission accepted) join one of the many social media groups out there for new families. They’ll give you all the specifics that will be unique to your campus. An ATM cars is handy if they need cash so know what banks are available fee free. Set up something like Apple Pay on their phones. On campus, most all payments are processed on their ID. You load money on there.


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[ezcc]

I had a checking account in my college town, but with internet banking and atms everywhere I imagine ds will just keep his same bank account that he already has- he never goes into the branch anyway. He deposits his paychecks from his summer job on his phone. As far as bills, I don't think he will have many his first year at college at least-we will probably still pay for cell phone, living expenses, dining plan etc. He would be on his own for entertainment/meals off campus. I doubt he would take a car freshman year, but as long as we own the car I think we will continue to pay insurance - he already buys his own gas. FWIW, he will be a senior in high school this year so haven't nailed all the details down yet!

[gymnbomb]

I used a bank that had branches both at home and in college town. Is that an option? I would go paperless for all bills you can, then you don’t have to worry about which address to use. I was on my parents car insurance and cell phone plans, so all of that went to them. I paid my dorm phone’s long distance bill that was delivered to me there.

I didn’t have a credit card until a few years in (I just had a debit card and a card on my parents credit card account for emergencies at the beginning) so by then I had an apartment that I had my bills sent to.


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[gatorsmom]

I’m not anticipating him having any bills. 🤷*♀️ We have a family cell plan and have no plans to change that. Pretty sure phone bills for a landline in the dorm aren’t really much of a thing anymore.
For other expenses, online bill pay. For paychecks, mobile deposits work fine. Venmo type things to send them $ are popular.
You don’t need to think this all through now. When the school gets chosen (admission accepted) join one of the many social media groups out there for new families. They’ll give you all the specifics that will be unique to your campus. An ATM cars is handy if they need cash so know what banks are available fee free. Set up something like Apple Pay on their phones. On campus, most all payments are processed on their ID. You load money on there.


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I’d like him to get in the habit now of paying bills online, using a debit card, etc., so that it’s not one more unfamiliar thing to deal with at college.

[JBaxter]

All bills came to us or we had access to their online college accounts. We use Wells Fargo he can deposit and use his debit card we have his account on your mobile app and can transfer to and from the account ( like when my nifty redlight camera picture came of his car )

[pinkmomagain]

Our kids have had a debit card linked to their own bank accounts (with money they've earned). They have also gotten their own credit cards and we pay the bills in college.

[westwoodmom04]

My kids are younger but we pay them their allowance via the GoHenry app. They can then access it via a debit card. We set a daily and weekly limit on how much they can withdraw.

[SnuggleBuggles]

I’d like him to get in the habit now of paying bills online, using a debit card, etc., so that it’s not one more unfamiliar thing to deal with at college.

Ours has a bank account, uses mobile deposits and a debit card (Visa logo so able to use it a lot of places). I don’t think he’s needed to get cash out because we keep cash on hand and he has an emergency $20 in his wallet (card for everything else). We won’t be having him pay bills but if it comes up, it’ll be easy to set up online bill pay- something we can do at the 11th hour.
My response that you bolted though was in reference to where to open accounts and other things that may be unique to college. He might chose a school that has your bank already represented, for example.


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[gatorsmom]

Ours has a bank account, uses mobile deposits and a debit card (Visa logo so able to use it a lot of places). I don’t think he’s needed to get cash out because we keep cash on hand and he has an emergency $20 in his wallet (card for everything else). We won’t be having him pay bills but if it comes up, it’ll be easy to set up online bill pay- something we can do at the 11th hour.
My response that you bolted though was in reference to where to open accounts and other things that may be unique to college. He might chose a school that has your bank already represented, for example.


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Sorry, I bolded that part without thinking it through. What you are saying makes sense.