Home > Replicated Reality > Banking Platform Gives Students Hands-On Money Management Experience

Banking Platform Gives Students Hands-On Money Management Experience

Replicated Reality | Online Banking

Through the Replicated Reality banking module framework, students are automatically set up with a spending and savings account. These accounts allow them to receive money, spend money, track money, and save money. The flexibility of the module works well with any curriculum or behavior support system you currently use that requires a cash flow model. The online interface mimics the tools of tech-driven banks, allowing students to view their account balances and transaction history as well transfer money and create additional savings accounts to track and progress toward specific savings goals.

Due to the flexibility of the system, the banking module tools can be used for students of all ages. By modeling real-world processes, students are able to learn new skills and survive their financial blunders and successes in a safe environment.

Student Bank Accounts

Replicated Reality | Savings Goals

Setting and Tracking Saving Goals

A student-centered savings goal can be for anything. From a new house or chair for their virtual world – or maybe something relevant to their real life, such as college savings or an emergency fund. No matter how they use them, the banking tools offer you a wide array of opportunities to bring money management into your classroom.

Replicated Reality | Direct Deposit and Automated Payroll

Payroll Center

In conjunction with our jobs module, the banking module also offers the payroll and bill pay centers. In the payroll center, students are able to allocate their automated paychecks to different account through direct deposit.  In addition to managing their direct deposits, they can also view their current and past paystubs that are created through the automated payroll system.

Student Bill Pay Center

In the Bill Center, students are able to view and manage assigned bills – both one-time and recurring. Recurring bills can be scheduled for automatic payment paid through Replicated Reality Bill Payer Service. Where do these bills come from? This is where you come in. Educators have the ability to set up any kind of bill they would like based on their need. Are you a life skills instructor building a real-world model? Maybe you need a recurring electric bill. Are you a school administrator looking for behavior management? Maybe you need a speeding ticket as a fine for running through the hall. The possibilities are endless.
In addition to the custom bills, when used with our real estate module, students will automatically receive a rent bill based on your settings.

Replicated Reality | Bill Pay