Best Debit Cards For Kids And Teens Of March 2024 (2024)

Yes, a teen can get a debit card of their own, but it typically must be approved by a parent or guardian over 18. Minors under the age of 18 are not usually permitted to open checking accounts in their name, but young adults over 13 can get a debit card with the help of an adult.

Teen debit cards are typically connected to a joint bank account that both parents and teens have access to. Many teen debit cards are simply prepaid cards that parents, as account owners, load with funds. Other times, parents and teens are joint owners of a checking account and can both add, withdraw or transfer funds. For either type of account, working teens may be able to set up direct deposit for their paychecks.

A parent or guardian getting a debit card for their teen typically has full control over the spending account and how much money the teen has access to. Usually, they can monitor spending and freeze the debit card if needed. Some teen debit cards have more robust apps that allow parents to pay for chores, schedule allowance, reward saving or limit spending.

Yes, a kid can get a debit card too. Some debit card accounts permit children as young as six years old to become users. Most of these accounts are prepaid cards that allow a parent or guardian to add funds for their child to spend. With these, kids receive a debit card of their own and can access their account through a mobile app and may be able to create savings goals, donate to charity or even invest. The best debit cards for kids include educational resources to teach basic money concepts, like how to make a budget or how credit works.

For kids under 18 years old, a parent or guardian will need to sign up for an account and add the child as a co-owner. The parent or guardian will have control over the account and debit card usage, as well as administrative control over the mobile app connected to the account.

Getting a debit card for your child or teen can be a great way to teach them about money management, including how to use earnings responsibly, save for expenses and goals and set aside funds for different purposes.

Many teen debit cards offer companion apps that have built-in financial literacy and educational content as well, helping teach your child about personal finance. In addition to learning about finances, your teen can get used to handling money in the digital age, with the ability to spend online and monitor their spending habits through an app designed for them.

Letting your kids practice spending money with a debit card, with you to steer them in the right direction, can give them valuable exposure to real-world concepts and help them start building practical skills at a young age before they have more money to spend. If you feel your child or teen is ready to start learning, a debit card might be a good fit.

Are Debit Cards for Kids Safe?

Yes. Debit cards for kids typically offer similar protections as regular bank accounts, such as FDIC insurance through the issuing bank and fraud protections. In addition, kids’ debit card accounts give parents (or guardians) full control, as kids younger than 18 cannot legally open a bank account in their own name. As an account owner, you may receive real-time alerts for transactions or have the ability to block spending categories or set spending limits. Basic accounts with fewer bells and whistles permit parents to view account activity, lock cards and transfer money.

Overall, debit cards for kids offer a safe way for kids and teens to manage and spend money.

There are several debit cards for kids that don’t come with monthly account fees. Neither Current nor Revolut <18 cards carry subscription fees, but you may incur other types of common banking fees, such as foreign transaction fees or transfer fees.

There are also a number of free checking accounts that can be opened jointly with kids or teens. Popular banks such as Capital One, Chase and Axos and credit unions like Connexus and Alliant offer fee-free debit cards and checking accounts for kids.

To apply for a debit card for your child, you’ll need to find a provider that offers an account for your child’s current age. While some offer accounts for kids as young as six years old, some only permit teenagers to join.

Once you find an account suited to your needs, you’ll provide the following to apply:

• Name
• Phone number
• Home address
• Date of birth
• Social Security number
• Government-issued ID (such as a driver’s license)
• Child’s information
• Child’s birth certificate (if required)

To set up your account with your child and get them a debit card, you’ll follow these steps:

• Download the mobile app if you haven’t already
• Add your child as a user or invite them to use the app
• Let them choose a debit card design (if offered)
• Fund your account and start transferring money to your child’s account

Many debit cards for kids offer expedited shipping to get a physical card sooner, but this optional service can cost as much as $20 or more. Some accounts offer virtual card access or are only available as digital debit cards.

If you’re a teen and want to get a debit card for yourself, you’ll need to apply for one with a parent or guardian. As a minor, you can’t open a personal checking account alone.

Most teen debit cards come with a companion app, so you can download the app and start an application. Your parent or guardian will need to provide their personal and financial information to complete the application. You may be able to start this process and invite your parent to join.

Some teen debit cards let you choose your design or offer customization for an extra fee. Once you’ve completed the application and chosen a card, you’ll receive your card in the mail in a week or two.

Getting your child a debit card lets them start using their money just like you—to make in-store and online purchases, track their spending and save a little on the side. But with this comes the ability to spend frivolously, and debit cards, though safe, can be vulnerable to fraud.

To teach your child to protect their personal and financial information, warn them against revealing their debit card number to anyone in public or online. You can also encourage them to track their activity to keep an eye out for suspicious transactions. Inform your kids and teens about safe ways to make online purchases, including only using SSL-encrypted websites, verifying a website’s authenticity and avoiding sending money to anyone they don’t know.

Most debit cards for teens and kids offer parental controls as well. Parents can restrict debit card usage and even freeze the card if it’s lost or fraudulent activity is suspected. Kids’ debit cards are also protected with FDIC insurance, covering up to $250,000 per account if a financial institution fails. Most offer purchase protection and fraud protection too, meaning your child won’t be responsible for paying for damaged items or fraudulent purchases.

To help your kids develop good habits, teach them about money with fun resources. Many of these are included with kids’ debit card apps and there are a number of other classes, games and videos geared toward children learning about financial literacy concepts for the first time. Using these and having serious talks about debit card use is the best way to teach your kids to spend money wisely.

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