I am disappointed. And what surprises me is it appears as though you can still set up student accounts. I didn't see any information regarding the discontinuation of these accounts anywhere on the website. Here are some thoughts on what to do now... Contact your bank and explain your situation and see if they have any solutions. Depending on the age of your student, the laws in your state, and the bank's policies, your student may be able to open a checking account with debit card. (Just don't give your student any checks.) You will want to set it up as a joint account so you can access the information and monitor the account online, as well as have the ability to transfer money between your account and theirs. In that scenario, your student can set up their own access online, but wouldn't be able to see or access any of your accounts. Be sure to ask about potential overdrafts. Some banks allow debit transactions to go through even if their systems are offline, potentially opening you up to overdraft fees (or a learning experience, depending on how you look at it). But other banks do not allow debit transaction unless the system can verify funds and therefore preventing any overdrafts. Another option - Some banks have the ability to add you as POA on an account instead of a joint account holder. Again, this will vary by state and bank. With this option, the account is in your student's name, but you still have full access. If your bank does this, they will have all the forms necessary. The POA (Power of Attorney) is specific only to that account and nothing else. I have set up accounts like this with my kids, and it has worked out quite well. They have their own accounts but I can see their activity and transfer money easily. (Especially helpful when they are away.) They downloaded the bank's app and can easily monitor their own accounts through that. I hope this helps in some way.
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