How does it work?

Distance learning can fit into your back-to-school budget

With Mobile Cash, you can withdraw cash from an ATM without inserting a card and with less physical contact. First, check to see if your bank supports this function. If it does, visit a local participating ATM and locate the button on the ATM screen enabling the Mobile Cash function. Then, open your banking mobile app on your smart phone and follow the withdraw instructions. For security, you’ll most likely need to snap a picture of a code on the ATM screen before the cash is dispensed.

Why Mobile Cash?

Whether purchasing a gallon of milk at a convenience store or giving a server a tip, cash is still a part of everyday life. And consumers seem to agree — even during the pandemic. A study from Cardtronics Inc. in April 2020 found that 54% of U.S. consumers preferred cash payment for transactions under $10. Eighty percent agreed with or were neutral with the notion that cash is as important today as ever.

So, it’s no surprise that people like to keep some cash in their pockets. And with Mobile Cash, customers have an option for getting cash from an ATM in a safe and secure manner. It is also an easy way to deposit cash or checks into your account. Check deposits typically post in one or two business days, but your bank might make the first $100-200 available immediately. Not all ATMs accept deposits so be sure to check before you go. And don’t forget some banks charge ATM fees for out of network users. When choosing a bank, it is important to check that they have a solid ATM network and mobile access.

How Safe is Mobile Cash?

Mobile Cash helps reinforce carefulness during uncertain times. Customers are essentially only touching an ATM once when using the Mobile Cash function, as opposed to touching the screen throughout the entire transaction. Of course, hand sanitizers or hand washing are also encouraged to take extra safety precautions.

From a cybersecurity perspective, customers are limiting their exposure to risks of fraud with the use of mobile cash. They will not need to insert their debit or ATM card into the machine, preventing the risk of card theft. In addition, Mobile Cash eliminates the need for customers to enter a PIN on the machine to gain access to their account, therefore eliminating the possibility of others nearby stealing their PIN.

The pandemic interrupting the economic climate has forced many consumers to rethink how they want to access cash. Thankfully, innovations like Mobile Cash technology is proving that cash is here to stay.

For many students, “going back to school” this fall could be just a figure of speech.

As the pandemic persists, the decision about whether to allow in-person learning or keep classrooms closed is coming down to the wire. The possibilities of distance learning are influencing how much families anticipate spending on back-to-school purchases.

Parents with children in elementary school through high school plan to spend a record $789.49 on average this year, according to an annual survey conducted in early July by the National Retail Federation. This is up from last year’s $696.70.

“As consumers get more information on how their specific school is operating and how classes will take place, they might adjust those budgets a little bit,” says Katherine Cullen, senior director of industry and consumer insights at the NRF.

Here’s how to tailor your spending for distance learning amid the uncertainty.

Expect extra purchases

This year’s back-to-school list may feature items you haven’t had to shop for in the past. Students attending school virtually — whether part-time or full-time — will likely need laptops, tablets or desktops, plus headphones and other tech accessories to access and engage with their classes.

If multiple people will be learning and working simultaneously in your household, you may have to shell out to get everyone their own device. Consider whether you’ll also need to buy any furniture or materials, like a dry-erase board, to create a functional workspace. Working parents who need support might also incorporate child care costs, tutoring or other arrangements in their budgets.

Students starting school at home could return to the classroom. Your budget should still include staples like school supplies and clothes to cover different scenarios.

“Kids grow regardless of whether or not they’re in school,” Cullen says.

Hold off on others

To offset the cost of new

EMILY MICHOT - THE ASSOCIATED PRESS FILE PHOTO Nova Blanche Forman Elementary School teacher Attiya Batool, teaches her 4th grade class virtually as her son, Nabeel, does his second grade classwork online wearing a face mask and headphones during the first day of school last month in Broward, in Davie, Fla. This year, many families are dealing with a first: building their back-to-school shopping plans around distance learning.