What is the best debit card to get for your kids? If you don’t have an idea about the right one to choose from, this article is for you. The debit card teaches kids how to manage their money.
However, there are some options to consider when looking for a card for your kids. You have two options which include a prepaid debit card or a debit card attached to a checking account.
Best Debit Card for Kids
The prepaid debit card charges a monthly fee for access to fun chores and allowance features, often with the lower age requirements.
While a debit card attached to a checking account typically doesn’t charge a fee, though they are often for kids age 13 or older. Read on to pick from our list of a best debit cards for kids.
Things To Consider When Looking For The Best Debit Card For Your Kid
Some of the kid’s debit cards come with mobile apps that allow you to track your kid’s spending. But other offers vary substantially. Below are things to look at when comparing debit cards for kids & teens:
- Security: a lot of debit cards for kids deliver up to $250,000 in FDIC insurance, but some cards go even further to keep your data and your money safe.
- Fees: You also need to consider the card fee as some debits card tied to checking accounts are typically free for kids. But prepaid cards for teens are notorious for miscellaneous fees.
- Check the Features: You need to consider features of the debit card, for instance, kids teen that just got their first job can go for prepaid debit card. Because those cards usually have better parental controls.
- Reloading options: make sure you go for a fast-reloading debit card. For instance, when you move money to your kids’ card like direct deposit, cash deposit and more it should load fast.
- Daily transaction limits: you also need to check the amount that can spend or rather withdraw a day. And make sure your kids are aware of their daily withdrawal limit.
- Reward: you can go for debit card that offer reward while shopping online and other places.
7 Best Debit Card for Kids
Debit cards for kids help parents teach their children how to start managing their money at an early age. Here are some of our top picks on best debit card for kids:
Best All Round Card for Kids – Greenlight
Key features
- Annual or monthly fee: $4.99 per month
- ATM withdrawal: $0
- Card replacement fee: $3.50
- Age requirements: 1 to 17 years old
- Card type: Debit
- Card network: Mastercard
The Greenlight debit card is one of the best cards for all round activity. It teaches your kids and teens to save with saving gools for a brighter financial future.
Greenlight is the loved, it come with trusted banking app¹ and debit card for kids and teens. Parents set flexible controls and get real-time notifications of their kids’ money activity. Every swipe earns 1% Cash Back to Savings.
In addition, it is the only prepaid debit card for kids that earns a 1% or 2% saving boost per year on balance below $5,000, depending on your plan. You can as well earn bonus by successful referral.
Best for Interactive Financial Learning – GoHenry
Features
- Annual or monthly fee: $3.99 per month
- ATM withdrawal: $1.50
- Card replacement fee: $4.99
- Age requirements: 12+
- Card type: Debit
- Card network: Mastercard
The GoHenry debit has an app that make kids and teens learn about investing, credit and more. The debit card is best for interactive financial learning because kids can play games via the app’s money missions section and earn virtual badges.
In addition, you can access all of the Go Henry’s features without paying the monthly fee the first month. That is the 30 days free trail. The games in the app even get more challenging as your child gets older.
Best for Building Credit: Step Debit Card
Key Feature
- Intro or bonus offer: Earn $1 for every person that joins using your unique link or code. They’ll also get $1
- Fee: $0 per month
- Overdraft fee: $0
This is one of the best debit cards for your kids. The step visa card is a new and personalized visa card that has no fee or interest. The step card is unique because it lets kids build credit history even before they are old enough to apply for a credit card on their own.
Start building healthy saving and spending habits as early as 6 years old. Kids can get a head start on their financial future with parental oversight, teens can develop financial independence, and parents can have peace of mind – all with one app.
Best for Spending Lessons – Till Financial
Key Features
- Fee $0 per month
- ATM transaction fee $0
- Foreign transaction fee 3%
- Paper statement fee $0
With Till, kids and parents get concrete insights into spending behavior and see progress in real time. Also, the till’s fee-free app and debit card teach kids the importance of spending wisely, setting goals and understanding the value of money.
In addition, Till doesn’t charge a fee to open or maintain an account. The only fees associated with this account are for international transactions, overseas ATM withdrawals and replacement cards.
If you’d like to sign up for a free account with Till Financial, you’ll be equipped with a bank account, digital and physical debit card and goal-based savings features. You can go to their website.
Best for Early Direct Deposit – Bluebird
Key features
- Annual or monthly fee $0 per month
- ATM withdrawal $0
- Card replacement fee $0
- Card fee $5
- Age requirements Any age
- Card type Prepaid
The Bluebird is an American Express card for early direct deposits because it offers you access to paychecks and other deposit. Unlike other debit card, you will not pay a monthly fee for maintaining your kid’s & teen’s account.
The card is also issued in partnership with Walmart and lets parents create up to four sub-accounts for teens and kids. The card comes with roadside assistance and family account features.
Best Card for Teens – Copper
Key features
- Annual or monthly fee $0 per month
- ATM withdrawal $0
- Card replacement fee $0
- Age requirements 13+
- Card type Debit
- Card network Mastercard
Teens can easily set goals and learn to save with the Copper debit card and app. In addition, parent can as well track their spending in real time and spend money in Secord.
One of the important facts is that, there is no monthly or overdraft fee and no minimum balance requirement with copper. That is, your kids can use the card at all point and money pass ATMs without paying a fee.
However, the Copper card help your teen to create multiple buckets to save up for long-term goals. They (teens) can as well set up set up automatic deposits into their savings buckets and invite friends and family to contribute funds.
Best for Families with Multiple kids – BusyKid
- Annual or monthly fee $3.99 per month
- ATM withdrawal $1.50
- Card replacement fee $5
- Age requirements 5+
- Card type Debit
- Card network Visa
One of the special offers at BusyKid include referring family and fronds to earn more cash. They will pay you $25 for each referral that is subscribed for at least 30 days.
However, the BusyKid visa prepaid spend debit card is also best for consumer service because it offers faster responsible times after it upgraded. Like many other kids’ debit cards, BusyKid also offers chore assignments and automated allowance payments.
The BusyKid Visa Prepaid Spend Card gives your kids the freedom to spend anywhere Visa® is accepted, and parents can see every transaction made.
FAQs
Is A Debit Card For Teens A Good Idea?
Yes, a debit card is a good option for teens to develop healthy money habits. The card you choose will depend on how they use it. Some offer control to parents over their kid’s spending.
How Can I Transition My Child Out Of A Teen Account?
The transition depends on the type of account you open for your teens. Prepaid debit card for teen will continue working after they turns 18. While if your kids are using checking account, it will automatically transition to a standard account once they turn 18 in most cases.
What Is A Debit Card For Kids?
Debit card for kids is a card a parent’s issues for their teen & kids in order to teach them hoe to start managing their money at an early age. The debit card lets the kids to save and spend money online or at store all while learning hoe money work through financial quizzes, chore and allowance.
Is a Debit Card for Kids a Good Option for Teens?
Yes, it can be a good idea to get a debit card for your teen. But the card you choose will depend on the environment your child can tolerate.
Some card offers less parental control to give the teen more freedom in how he or she spends money without parent’s approval.
Are Debit Cards for Kids Safe?
YES! First, these debit cards for kids come with an FDIC-insured account, so no matter what happens to the bank, you’ll get your money back.
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