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Why do you even need an app if you're paying your own kid? Presumably, their account will be at the same bank as your account. I've had accounts with BofA and U
by imgabe 11y ago
Why do you even need an app if you're paying your own kid? Presumably, their account will be at the same bank as your account. I've had accounts with BofA and USAA and they both have super easy ways to send money to anyone else with an account at their bank. I'm sure most other banks do too.
- cityofdelusion 11y agoThis is what I am wondering as well. Both of the banks I have used in the past (one large national, one tiny credit union) have special "youth" checking accounts that can be co-owned by parent and child. Both of these banks had apps that let you transfer money between your own accounts super easily, and like you mentioned, between any accounts at their institutions fairly easily. You mentioned USAA, and I believe they actually let you send money to any old e-mail address (method of transfer depends on recipient and who they bank with). The banks themselves aren't really sitting on the sidelines and waiting for disruption. Lots of them run "incubators" for their internal teams precisely to stay relevant. Apps like this face a real uphill climb.
- theinternetman 11y ago> Why do you even need an app if you're paying your own kid? It answers the first world tech-bro problem of having to keep cash handy and engage with your kid face to face not face to screen to screen to face.