I snapped this picture earlier this week when walking to teach my class. A bank of ATMs are set up. What do they all have in common?
That’s right. You can withdraw funds from all of them, but you can’t make a deposit at a single one.
I realize that on some level, this is a business decision. Maybe students don’t make deposits often, or they use direct deposit, or their parents deposit money directly into their accounts.
But I think there is a subtle message here. I hear all of the talk about the need to improve the financial literacy and financial management skills of our students. It’s time our financial institutions step forward too and encourage our students to save money too.