<p>but USAA accounts are only an option if you meet their membership requirements (military or children of members) right?</p>
<p>Mom60, I wasn’t trying to sell USAA FSB, I was just using them as an example as to how a bank should work in the Internet age.</p>
<p>I don’t know which NY program your child is going to, but my 14 year old did Columbia last summer and had problems with the old-fashioned traveler’s checks. Some nearby businesses (like the grocery across the street) refused to take them. As a result, she had to go to a bank to cash them and ended up carrying more cash than she should have sometimes. I had also given her a debit card, and that worked out better. I just kept the balance fairly low in the related account in case she lost it (which she didn’t). She withdrew money at the ATM on campus and everywhere else in New York!</p>
<p>I’ve been all over the US (when I used the travelers checks) and pretty much never had a problem. I’ve probably had more problems with places not taking credit cards.</p>
<p>I ordered an American Express travelers cheque card to at least get the process started. The minimum funding is 300 and it costs about 15 dollars to set it up and we can add on to it. From the info they provide he should be able to use it at businesses even if they don’t take Am Express since it is like travelers checks. He can also get a pin number and use it at ATM’s that bear certain symbols. He is going to Parsons.
I will still make a visit to the bank and inquire about setting him up with his own ATM and account since it is about time.
I did check out USAA and it is limited to who may join. Not an option for us but looks interesting.</p>
<p>Remember, many places don’t take American Express- really</p>
<p>I would suggest an ATM card that has the visa logo, it comes out of your checking account, but places that don’t do ATMs will accept it like a credit card, best of both worlds</p>
<p>My suggestion is to open up a checking account that is easilly accepable to you and him- that you can make deposists in for him, that is how we did it</p>
<p>My H could easily transfer $$ with no hold, which can happen</p>
<p>And he should go with you to the bank, this is his responsiblity as well</p>
<p>tho I don’t like B of A, most college freshman can find a branch near or at their schools. You might want to get him a B of A acct with a ATM card now. We ended up having to switch D over to B of A when she went off to college anyway</p>
<p>“deceptacon: I am Optimus the autobot”</p>
<p>haha. Actually, it’s a song. As soon as I registered under this one, my first thought was that people would call me a ■■■■■ on my first few posts ;).</p>
<p>ditto on the reminder that lots of retail/restaurnat places don’t take AmEx,though the AmEx Traveler’s card may be accepted differently.
Really, aNational Bank like BofA is useful ,as much as you may not like their customer service locally.</p>
<p>I was thinking when I saw the title of this post – It’s all I can do to AVOID supplying my kids with cash. LOL</p>
<p>Weenie- I feel that way on a daily basis. I keep reminding him that his part time job earnings are his spending money in NY so he better work as many hours as he can.
From what I have read about the Am express travel cheque card it is like a debit card and should be okay everywear regardless if they don’t take AmEx. </p>
<p>It looks like they have Wells Fargo in NYC so I am going to try them first. I have done some banking for my D and I have found them to be more helpful then the B of A. I would like to avoid being named on the account but since he is 17 I don’t know if I can avoid it.</p>
<p>Update- After a frustrating afternoon the best we were able to do was a atm card in my name on a joint savings account that he already has from a credit union. He can use it at any atm and his credit union doesn’t charge but he will be charged by the bank where he withdraws the money. We went to 2 banks where they both said they would not issue a debit card in his name since he was not 18. I don’t know how some of you were able to get debit cards. Wells Fargo would give him a debit card but it would have my name on it.
Adding to the frustration was that my son does not presently have a picture ID. Lost wallet with drivers license and school id. Passport was sent off last week for a renewal.
Keeping my fingers crossed that the new license or passport gets here before he needs to get on a plane.
The atm can strangely enough be used without a fee at 7-eleven. Anyone know if they have 7 eleven’s in Manhattan? He can also withdraw without a fee at credit unions and they gave him a printout of those. I am one of those people who only withdraw from my bank to avoid fees.</p>
<p>Wow! MY D was in France when she was 17 withdrawing cash like crazy from a joint account we set-up with our small regional bank. The ATM card was in her name. When she started school in NYC we went with BoA even though it is my least favorite bank, but in NYC convenience becomes a major issue. There are 7-eleven’s in NYC. What summer program is he attending? I know there is a 7-eleven right around the main SVA buildings, not sure about Parson’s. My daughter’s main trick for getting money was to buy something she needed at CVS and get money back (no fees).</p>
<p>This information may come in too late, but Bank of America said they would give my D a debit or credit card if I cosign the application, she is 16 but get a free checking account because she is a student.</p>
<p>unsoccermom he is going to be at Parson’s. I looked up the atm locations on the website of the credit union and it looks like there are a number of machines near his dorm. Actors FCU or Municipal FCU are a few of the atm’s he can use. It looks like they have Actors machines in many McDonalds so I think he will be fine.</p>