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by HedgeMage 4506 days ago
Recent bank reforms in the US created a requirement for any institution offering any checking account to offer at least one checking account option with no fees and no overdraft protection. At my banker's suggestion, I opened this type of account for my son. He has a debit card, but no checks. When he runs out of money, the debit card gets rejected -- no debt and no overdraft fees are possible. It's a great tool for him to learn money management, doesn't cost me anything, and enables him to buy ebooks online and other stuff he's interested in with his own money.

That said, at his age I couldn't afford a VPS...I learned by setting up server daemons on my desktop and messing around with them.
2 comments
Crake 4506 days ago
>Recent bank reforms in the US created a requirement for any institution offering any checking account to offer at least one checking account option with no fees and no overdraft protection.

Can you show this option available for, say, Chase? I hadn't heard of this reform, and I'm a bit skeptical it exists. (Although I'd be happy to be proven wrong.)

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japhyr 4506 days ago
This is a really good suggestion. If I could recommend an approach for students and parents where they would know their exact level of risk, ie $100 on a debit card, not connected to any other account, I wouldn't feel nearly as reluctant to help coach students into learning about web hosting.

Thanks!

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