Debit cards for teenagers are an excellent tool for helping young people learn how to manage their money. Many options allow parents or guardians to set limits and monitor activity. The best debit cards for teens often come with mobile apps that provide financial education and track spending and savings over time.
These apps can also include features like account and spending limits, which can help prevent teens from overspending while still allowing them to make real-world financial decisions. Smaller banks may also offer more convenient features for teens than larger banks.
What Is a Debit Card for Teens?
A debit card for teens is a financial card designed to help parents teach their children about money management and budgeting. These debit cards are linked to a bank account or another funding source.
They are typically accompanied by a mobile app that offers chore tracking, recurring allowance payments, and the ability to split earned money into categories such as spending, saving, and giving.
Debit cards for teens are often used as an alternative to prepaid debit cards, as they offer additional education and financial literacy resources. Some costs associated with debit cards for teens may include fees for other cards, ATM usage, and replacement cards.
Greenlight Kids’ Debit Card
| Feature | Description |
| Cost per Teen | $4.99/month |
| Reload Fee | $0 |
| States Available | All 50 states |
| Parental Controls | Yes, including real-time alerts, location tracking, and customizable spending limits |
| Spending Limit | Adjustable by parents through app |
Greenlight is a financial management tool for families with children that offers a simple-to-use mobile app to help teach kids how to manage money responsibly.
For a monthly fee, Greenlight provides up to five debit Mastercards for teens linked to a parent-controlled account, allowing parents to monitor all child spending, activate or deactivate debit cards, and block specific store spending within the app.
Greenlight offers three service levels, starting at $4.99 per month for debit cards and access to the mobile app with parental controls. The Greenlight + Invest plan, at $7.98 per month, includes access to an investing platform for kids. The Greenlight Max plan, at $9.98 per month, includes the following:
- The investing platform, as well as 1% cash back.
- A special edition card.
- Priority customer service.
- Identity theft monitoring.
- Alerts and restoration.
- Cell phone protection.
- Purchase protection.
Greenlight has a daily spending limit of $1,500 and only allows accounts to be funded through bank accounts or debit cards, not PayPal or credit cards. There are no in-network ATMs available, and ATM fees are not reimbursed.
Pros of Greenlight’s debit card for kids
- Full parental control and monitoring of teen spending
- Built-in financial education
- Chore management and payments
- Ability to block spending for specific stores
- Low monthly fees
- No additional costs beyond the monthly plan fee
- Investing platform, a rare feature among prepaid cards in its class
- No need to create a new checking or savings account
- App with chore, allowance, and parental controls
- Store-specific spending blocks to help control children’s spending
Cons of Greenlight’s debit card for kids
- $1,500 daily spending limit
- Limited funding options: accounts can only be funded through bank accounts or debit cards
- Monthly plan fees range from $4.99 to $9.98, which may be more expensive than other prepaid debit Mastercards for kids.
- The Greenlight Max plan offers many perks and rewards, such as cashback and purchase protection.
- Multiple parents or guardians may need a joint account to manage the app since money transfers, spending controls, and investment actions are tied to the primary account holder.
- Unlike some competitors, it requires frequent management of both the physical debit card and mobile app.
BusyKid Visa Prepaid Spend Card
| Feature | Description |
| Cost per Teen | $14.95/year per family |
| Reload Fee | $0 |
| States Available | All 50 states |
| Parental Controls | Yes, including customizable spending limits and real-time alerts |
| Spending Limit | Adjustable by parent through app |
BusyKid is a financial education and management tool for families with children. The company offers prepaid debit cards for kids linked to a parent-controlled account through a mobile app.
The BusyKid app allows kids to earn money through chores or allowance, with a chart of preset amounts for each activity. Parents can use the app to track their children’s spending, set limits on where and how the card can be used, and distribute funds to their children’s accounts.
The app also offers real-time spending alerts and the ability to lock transfers. A family of up to five can have up to five prepaid debit cards through BusyKid for $3.99 a month. Additional cards cost $5 per year, and replacement cards cost $5. ATM withdrawals in the U.S. are $1.50 (plus any fee assessed by the ATM owner).
The card has a $2,000 balance limit, and transactions are limited to 20 per day. An additional $0.50 fee may apply if the card is used with a PIN or if four failed attempts are made in a month.
Pros of BusyKid Visa Prepaid Spend Card
- Savings locks and account alerts for financial management
- User-friendly mobile app for convenience
- Flexibility to fund cards through debit cards, credit cards, or checking accounts
- Affordable annual fee
- Kids have the option to spend, save, or invest their money
- Suggests chores based on age for age-appropriate tasks.
Cons of BusyKid Visa Prepaid Spend Card
- Fees on declined purchases after 4 attempts
- $5 cost for a replacement card
- $1.50 ATM fees
- Only one card is included in the plan.
Axos Bank Debit Card
| Feature | Description |
| Cost per Teen | $0 |
| Reload Fee | $0 |
| States Available | All 50 states |
| Parental Controls | Yes, including customizable spending limits and real-time alerts |
| Spending Limit | Adjustable by parent through app |
Axos Bank is a financial institution that offers a variety of products and services, including the First Checking account for teenagers ages 13 to 17. This standard checking account comes with a free debit card and features like online bill pay, peer-to-peer payments, and FDIC insurance. It has no account maintenance fees, no overdraft fees, and reimburses ATM charges of up to $12 per month.
Parents can set up a joint account with their teenager, giving them equal control over the account. The Axos Bank mobile app allows parents to deactivate or reactivate their teenager’s debit card and set up automated alerts for any account activity. Teens can use the account to direct deposit their paychecks and earn a small interest. However, the interest rate is well below 1%, so parents may consider setting up a separate saving account for their teenager.
Pros of Axos Bank Debit Card
- No account maintenance fees
- No overdraft fees
- ATM charges are reimbursed for up to $12 per month
- Joint account ownership with a parent or guardian gives both parties equal control.
- The ability for teens to direct deposit paychecks into the account
- Parents can deactivate or reactivate the teen’s debit card directly from the banking dashboard and set up automated alerts for any account activity.
- FDIC insurance for added security
- Standard checking account features such as online bill pay and peer-to-peer payments
Cons of Axos Bank Debit Card
- The low-interest rate on the First Checking account.
- Joint ownership requirement.
- Limited ATM network.
- No rewards or cash back.
GoHenry Debit Card
| Feature | Description |
| Cost per Teen | $3.99/month |
| Reload Fee | $0 |
| States Available | All 50 states |
| Parental Controls | Yes, including customizable spending limits and real-time alerts |
| Spending Limit | Adjustable by parent through app |
GoHenry is a financial management tool for families with children aged 6 to 18. The company offers a debit card and mobile app that helps kids manage their allowance and chore money and provides financial education through interactive lessons based on national standards.
GoHenry has excellent customer service, with phone and email support available seven days a week and a comprehensive support section on the website. The app includes chore tracking, savings goals, real-time notifications, parental spending controls, and peer-to-peer payments.
Direct deposit is available for those 14 and older, and accounts are FDIC-insured. The debit Mastercard offers chip-and-PIN technology for added security, and cardholders can choose from over 45 card designs. Parents of kids and teens will appreciate GoHenry’s full-featured app and excellent customer service, although it is slightly more expensive than other debit card accounts.
Pros of GoHenry Debit Card
- Direct deposit available for anyone 14 and older
- FDIC-insured accounts
- For extra security, Mastercard’s debit cards feature chip-and-PIN technology
- 7-days-a-week phone and email support
- Wide range of card design options
- Built-in financial education tools, including “money missions” based on national standards
Cons of GoHenry Debit Card
- More expensive than some other debit card options.
- There is a daily spending limit of £3,000, which may be lower than some families need.
- ATM fees are not reimbursed and there are no in-network ATMs.
- GoHenry does not offer an investing platform.
- Some users have reported issues with the card being declined at specific merchants, even when sufficient funds are available.
Jassby Virtual Debit Card
| Feature | Description |
| Cost per Teen | $0 |
| Reload Fee | $0 |
| States Available | All 50 states |
| Parental Controls | Yes, including customizable spending limits and real-time alerts |
| Spending Limit | Adjustable by parent through app |
Jassby is a digital banking service that offers a virtual debit card that can be used with Apple Pay for in-store transactions. Sutton Bank of Ohio issues the MasterCard, and accounts are FDIC-insured. Jassby also offers a mobile app that allows parents to assign chores, set up allowance payments, and monitor their child’s transactions.
Kids can also earn rewards for completing tasks that increase their financial literacy through the app. Users must be 18 years of age, U.S. citizens or legal residents with a U.S. phone number and a U.S. bank account or credit card to use the card. The app is available for iOS or Android devices.
Pros of Jassby Debit Card:
- A virtual debit card that is compatible with Apple Pay
- PIN code required for each transaction
- FDIC insured through Sutton Bank of Ohio
- A kid-friendly mobile app that allows parents to assign chores set up recurring allowance payments, and monitor transactions on the account
- Rewards program to increase financial literacy
- No fees for using the card
Cons of Jassby Debit Card:
- Must be 18 years old, a U.S. citizen or legal resident with a U.S. phone number, and have an iOS or Android device
- Must have a U.S. bank account or credit card to sign up
FamZoo Prepaid Debit Card
| Feature | Description |
| Cost per Teen | $5.99/month |
| Reload Fee | $0 |
| States Available | All 50 states |
| Parental Controls | Yes, including customizable spending limits and real-time alerts |
| Spending Limit | Adjustable by parent through app |
FamZoo is a prepaid debit card and mobile app designed to help children manage their money using spend, save, and give budget categories. It also includes various financial education tools, such as a loan repayment tracker, weekly financial reports, and the ability to set up mock stock investments.
FamZoo’s mobile app allows parents to assign chores, set up recurring allowance payments, and monitor transactions on their child’s accounts. The app has features such as real time alerts, instant transfers, and expenditure tracking for parents. FamZoo offers two options for families: prepaid cards or IOU accounts. There are no age restrictions on FamZoo accounts.
The pricing for FamZoo ranges from $2.50 to $5.99 per month for up to four cards, with additional cards costing $3 each. There are also fees for reloading the card with cash, which can cost up to $5 per reload. FamZoo offers financial education-centered apps for iOS and Android.
Pros of FamZoo Prepaid Debit Card:
- FamZoo offers a prepaid debit card with the option to purchase additional cards for $3 each.
- The platform offers a variety of educational features, including chore lists, savings goals, and loan tracking.
- FamZoo’s app supports Apple Pay and Google Pay.
- The company provides a comprehensive financial literacy app.
- FamZoo does not charge foreign transaction fees.
- Parents can pay interest on saved amounts to encourage saving behavior in their children.
Cons of FamZoo Prepaid Debit Card:
- Cash may incur a fee of up to $5
- There is a fee for ordering more than four cards
- Reloading the card with other methods may cost up to $4.95
- Parents may choose to pay interest on their child’s savings account
- The lowest pricing option requires payment for two years upfront.
Kachinga Prepaid Debit Card
| Feature | Description |
| Cost per Teen | $5/month |
| Reload Fee | $0 |
| States Available | All 50 states |
| Parental Controls | Yes, including customizable spending limits and real-time alerts |
| Spending Limit | Adjustable by parent through app |
Kachinga is a financial tool that helps teens learn about budgeting and money management through a chore app and prepaid debit card. With Kachinga, parents can set up chore charts or recurring allowance payments for their teens and the earned money is loaded onto the card.
Teens can then choose to spend, save, or donate the funds on the card. The app also provides parental controls, including spending alerts, blocking specific merchants, and locking the debit card from the mobile app.
Kachinga offers simple spending reports to help teens track their spending over time and understand how to manage their money. The service costs $36 per year per child and offers a one-month free trial. There is a $2 fee for ATM withdrawals, but there are no overdraft fees, inactivity fees, or reload fees on the card.
Pros of Kachinga Prepaid Debit Card:
- Option to set up recurring allowance payments
- Wide range of parental controls
- Easy tracking of spending and earning
- Ability to set savings goals
- No overdraft fees or reload fees
- Check depositing and direct deposit options
- One low yearly fee per child
Cons of Kachinga Prepaid Debit Card:
- A fee of $36 per year per child.
- Withdrawing money from ATMs costs $2 per transaction.
- Getting assistance with any issues or questions may be difficult with Kachinga’s limited customer support options.
Current Debit Card for Teens
| Feature | Description |
| Cost per Teen | $0 |
| Reload Fee | $0 |
| States Available | All 50 states |
| Parental Controls | Yes, including customizable spending limits and real-time alerts |
| Spending Limit | Adjustable by the parent through app |
Current is a financial tool designed to help teens learn about money management. It includes a prepaid debit card and a mobile app that allows teens to manage their funds and set aside money for spending, saving, and giving. The app also includes a chore tracker and recurring allowance options to help teens earn money.
With Current, teens can track their spending, set budget limits, and round up purchases to transfer the difference into savings pods. The app also offers recurring savings options, financial education resources, and parental controls such as real-time spending notifications and the ability to lock or block certain merchants.
There are no fees for teen accounts, and the card has access to over 40,000 fee-free ATMs across the US. To sign up, however, a parent account is required.
Pros of Current Debit Card:
- Mobile app with easy-to-use features
- Savings Pods encourage teens to save for their goals
- Round-up feature helps teens save extra money on purchases
- Spend tracker helps teens understand their spending habits
- Access to over 40,000 fee-free ATMs across the US
Cons of Current Debit Card for Teens:
- Requires a parent account to sign up
- Deposits may take up to 5 business days to be transferred
Capital One MONEY Teen Checking+
| Feature | Description |
| Cost per Teen | $0 |
| Reload Fee | $0 |
| States Available | All 50 states |
| Parental Controls | Yes, including customizable spending limits and real-time alerts |
| Spending Limit | Adjustable by parent through app |
Capital One MONEY is a financial tool designed specifically for teenagers, featuring a free debit card and accompanying mobile app with separate sign-ins for teens and parents.
The app allows parents to monitor account activity, set spending limits, and lock and unlock the debit card, while teens can set savings goals and track their balance. Capital One MONEY also allows teens to deposit checks remotely and set up direct deposit for paychecks.
Once teenagers turn 18, they can convert their MONEY account to a standard Capital One account. The MONEY account also earn 0.10% interest.
Pros of Capital One MONEY Debit Card for Teens:
- Free debit card for teens 8 years and older
- 0.10% interest earned on account balances
- Separate sign-ins for teens and parents in the mobile app
- Parental controls including real-time spending alerts, allowance auto-funding, and the ability to lock/unlock the debit card
- No overdraft fees, inactivity fees, or reload fees
- No Capital One account is required to sign up
- Transition option to standard account when the teen turns 18
Cons of Capital One MONEY Debit Card for Teens:
- No ATM network partner, resulting in a $2 fee for ATM withdrawals that is not reimbursed
Guide for Choosing the Best Debit Card for Teens
Should Your Teen Use a Debit Card?
If you want to teach your teenager financial literacy and how to manage their own money, a debit card designed for teens may be a good option. These prepaid cards often come with parental controls such as spending alerts and the ability to block certain merchants.
Before deciding whether a debit card is right for your teenager, it’s important to consider their personality and whether they are ready to manage their finances. You should also consider whether you can afford any potential overspending. These cards can allow your teenager to learn valuable money-management skills while still having some restrictions to protect them.
Compare Debit Card for Teens
There are a few factors you may want to consider when selecting the right debit card for your teen:
- Cost: Debit cards for teens usually have a cost, whether a monthly or yearly fee. Consider your budget and what you are willing to pay for a debit card for your teen.
- Reload Fees: Some debit cards charge a fee for reloading the card with cash or transferring funds from a bank account. Consider whether this fee is something you are willing to pay and how often you expect to reload the card.
- States Available: Not all debit cards for teens are available in all states. Check if the card you are considering is available in your state.
- Parental Controls: Consider the level of parental controls the debit card offers. Do you want real-time notifications of your teen’s spending? The ability to lock and unlock the card remotely? The ability to set spending limits?
- Spending Limit: Some debit cards for teens have a spending limit, which can help teach your teen about budgeting and financial responsibility. Consider whether a spending limit is something you want for your teen.
Teaching Your Teen to Use a Debit Card
To sign up for a teen debit card, you will usually need to do it online and provide some basic information about your teen. There will usually be a requirement for a joint account holder, such as a parent or guardian, who is at least 18 years old. Once you have set up the account, you can link a checking account or debit card to provide funds for the card.
Many teen debit card apps offer features like chore tracking, recurring allowance payments, and the ability to categorize money into spending, saving, and giving. These features help teens learn financial literacy and responsibility as they gain exposure to different financial concepts. The app can also track spending and set budgeting goals, giving teens a better understanding of managing their money.
What Costs Are Associated With a Debit Card for Teens?
You should be aware of several costs associated with a debit card for teens. These costs may include:
- Monthly fees: Some debit cards for teens charge a monthly fee for using the card.
- Reload fees: If you need to add more money to your teen’s debit card, you may be charged a reload fee.
- ATM fees: If your teen uses an ATM not part of the card issuer’s network, you may be charged an ATM fee.
- Purchase fees: Some debit cards for teens charge a fee for each purchase made with the card.
- Replacement card fees: If your teen loses their debit card or is stolen, you may be charged a fee to replace it.
Does a Debit Card for Teens Help Teach Financial Responsibility?
Yes, debit cards for teens can be a valuable tool in teaching financial responsibility. These cards often come with mobile apps that provide educational resources and tools, such as chore tracking and savings goals, to help teens learn good money habits.
The parental controls available on many of these cards also allow parents to monitor their teen’s spending and set limits, helping to teach financial responsibility and the importance of budgeting. Additionally, using a debit card allows teens to make real-world financial decisions and manage their own money, which can be a great learning experience and help them develop valuable skills that will serve them well in the future.
What Is the Minimum Age to Receive a Debit Card for Teens?
In the United States, the minimum age to receive a debit card for teens is as young as 13 years old, while other banks may have a higher age requirement. Regardless of the age limit for a specific debit card, a child under 18 must have a parent or guardian on the account who is at least 18 years old.
Kid-focused debit cards are available to children as young as six, but again, a parent or guardian must be on the account.