When they’re done hitting the books, college kids can sell them for a chunk of change and have it deposited directly to a prepaid digital account.
That’s because American Express has partnered with Chegg, a service that connects students with scholarships, tutoring, textbooks and tools for campus. College students will be able to use Chegg’s book buyback program and get their funds credited to a Serve digital prepaid account.
How it works
When students have turned in their final exams and are ready to sell their textbooks, they can log into the Chegg website to get a quote. Chegg buys student textbooks and resells them, just like most college bookstores do. If the student chooses to go with the price quoted from Chegg, they print out the shipping label and mail the books.
To receive their money, students are directed to the Serve from American Express website where they sign up for a Serve account The digital prepaid card with funds from the sale is issued within 24 hours of processing receipt of the books.
What students can do with Serve
Once students have a Serve account they can use the funds in a number of ways. They can withdraw cash from an ATM, use the card at any retailer that accepts American Express, or even send money to a friend or easily split a bill when out for dinner with a group. There is also a Serve app that lets cardholders easily use and manage their digital account on the go.
As an incentive to open a Serve account, American Express is offering Chegg customers a $10 credit when they make their first purchase. The offer is good through August 30, 2013, and the funds will be added to the new customer’s balanceas soon as the account is opened and any purchase is made.