What is Copper Banking?
Copper Banking is an innovative new way to provide financial services to young people. It’s a mobile-only platform that allows parents to access their child’s accounts and make payments using the same device they use to connect with friends and family on social media. The service was designed by parents who wanted to give their children better ways to manage their money.
Teens can also get help from their parents when making financial decisions. For example, parents can monitor their teen’s spending and block transactions if necessary.
How Copper Banking Works
The app works by connecting directly to your child’s existing checking account at Evolve Bank & Trust (Copper’s banking partner). All transactions are processed through the bank, so there is no need to worry about security or fraud. In addition, your child will be able to access all of their accounts from anywhere using any device.
The app works like a regular banking account, but customers receive all their information digitally instead of receiving traditional paper statements. Customers can deposit funds into their accounts from any ATM or credit/debit card and then withdraw cash at ATMs around the country. They can also transfer funds between each other within the app.
Who is the Copper Banking App for?
This app is designed for teens ages 13-18 years of age. It is suitable for those interested in learning more about money management and how to budget and manage their finances.
What Makes Copper Banking Different?
Compared to other online banking services, Copper stands out because it encourages parents to take a hands-on approach to help teens manage their finances.
Also, unlike most apps, which only allow you to send money to your friends, Copper enables you to transfer money between accounts. So, for example, if one user has $100 in their checking account and another wants to give them $50, they can do so without asking permission.
In addition, unlike other apps, Copper provides real-time transaction alerts. This means that you can see what your balance is at all times.
Why Should You Use Copper Banking?
There are many reasons why people should consider using this app:
- It helps teens learn about managing their finances.
- It gives parents control over their kids’ spending habits.
- It is convenient since there is no need to go to the bank.
- It is secure since it uses the same security measures as banks.
- It is affordable since it does not require a monthly fee.
What are Copper Banking and Debit Card’s Best Features?
Several features make Copper stand apart from other banking apps. These include:
- Real-Time Transaction Alerts: You can check your balances at all times. If someone tries to spend too much money, the app will notify you immediately.
- No Monthly Fees: There is no monthly fee associated with the app.
- Account Balances: You can view your entire account history, including all transactions.
- Deposits: You can deposit checks, cash, and even gift cards on the app
- Withdrawals: You can withdraw cash from ATMs throughout the United States.
- Transfer Funds Between Accounts: You can easily transfer money between accounts.
- Parental Controls: Parents can set up controls to limit their kid’s spending.
- Social Media Integration: Teens can log into their accounts via Facebook, Twitter, Instagram, Snapchat, etc.
How to Open a Copper Account
The first step for teens who want to use the service is to download the Copper app from Google Play Store or Apple App Store. Once installed, you will be able to create a new account.
When you log into the app, you will be asked to enter your email address and password. Then, you can select your desired username and click “Log In.” After logging in, you can choose to create an account or use an existing one. Once created, the app will automatically sync with your existing checking account at Evolve Bank & Trust.
You will be prompted to provide your social media login credentials if you have an account. The app will then connect to your social media accounts and display your recent activity.
Once connected, the app will show a list of available accounts. You can add new ones or edit existing ones.