What can I do about my college opening up a bank account in my name to transfer the surplus of my financial aid money to me?
This quarter is different than the last in which my college has given out to the students what look to be prepaid visa cards. They used to give out paper checks. Their plan is that the surplus of our financial aid money is to be put on the cards to save them the trouble of handing out the checks and to save paper, I guess, as well. The thing is that they aren’t prepaid visas. They are actual bank accounts that I can put money into and take out. They have all the regular charges fees of a bank card. My conclusion is that my college has given this bank in Texas my information and opened a bank account in my name. I’m not really happy about it and I would like to know the right way to approach this. I haven’t spoken to anyone because I’m still on break.
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