Beginning this Fall, SAS is no longer offering allowance accounts for boarding students. Due to the ever-increasing availability of non-cash payments and transfers, we find that individual families have more opportunities for determining and accommodating their students’ personal financial needs. Most students carry debit and credit cards which allow the families to directly respond to their spending needs.
To meet your needs, we have assembled the list below of possible options that might meet your needs in providing personal spending funds for your student.
Local banks:
Regions Bank - https://www.regions.com/locator/branch/bank-branch-sewanee-sewanee
Tower Community Bank - https://www.towercommunitybank.com/
Online Debit Cards designed for students:
Greenlight – Available from Ap Store or https://greenlight.com/
BusyKid Prepaid Spend Card - https://busykid.com/kids-debit-card/
While SAS does not endorse any of these products, as a service to our families, we have contacted and reviewed this additional resource:
Jassby Virtual Debit Card - https://registration.jassby.com/partner/sas
Jassby is a family finance app, allowing your family to send money to one another, and provides a debit card (both digital and physical) as a way of spending that money. Jassby is also great for teaching kids about money offering:
· Jassby Financial Literacy Score: A tool for parents and kids to track and monitor improvement in financial literacy, increasing rewards.
· Jassby University: Games, activities, and courses designed to teach kids about financial matters, with a robust rewards program woven in.
· Chores and allowance features: Set up chores for kids, or they can request activities to earn additional money. Send money to your kids and even set up auto-transfers.
· Notifications: Be notified when your child spends money and access statements detailing their spending.
· Rewards: As kids progress through Jassby, they earn points, redeemable for real world money (funded by Jassby).
As a special offer to SAS families, Jassby is offering their service free of charge for 2 months. After that, if you choose to continue, it is $5.95 per month. To sign up for Jassby visit the link above.