Best Debit Cards for Kids and Teens for September 2024

The Bottom Line

Our top pick as the best debit card for kids and teens is the Greenlight Kids' Debit Card because it excels in many areas. It allows parents to monitor and control spending options, lock cards, and set up real-time parental notifications. Greenlight also has a mobile app with the parental controls built in, so parents can monitor and control spending, as well as incentivize chores by adding money to their kids’ accounts directly. Greenlight is a great option for families of any size, but it's especially useful for families with multiple kids.

Why You Should Trust Us

Investopedia collected key data points from 25 companies to identify the most important factors for readers choosing a kids' debit card. We used this data to review each company for pricing, reputation, and other features to provide unbiased, comprehensive reviews to ensure our readers make the right decision for their needs. Investopedia launched in 1999, and has been helping readers find the best kids' debit cards since 2020.

Compare the Best Debit Cards for Kids and Teens

Guide to Choosing the Best Debit Card for Kids and Teens

Ideally, your child will use their debit card for months or years. The top cards are all safe when used responsibly, but they have different fees and features. Consider the following to help determine which card works best for you and your kid.

How to Compare Debit Cards for Kids and Teens

When looking for the right debit card for your child, there are a few factors you may want to consider:

• Parental controls: While many debit cards for kids have spending controls, some offer more than others. Specifically, look for spending alerts, merchant blocking, and the ability to lock/unlock cards remotely.
• Cost: Many of the kid-focused debit cards come with a monthly or annual fee. These cards tend to offer more features, but also may cost more, depending on your needs. Also, be sure to research any associated fees, such as overdraft, reload, or ATM fees.
• Mobile app: Great kids' debit cards will have a mobile app that pairs with the card, which is essential for monitoring and managing their money. Look for apps that offer a simple user experience and control over debit card funds.
• Limits: Be aware of spending and transaction limits on debit cards. Some offer lower limits than others, so make sure to understand what type of spending you expect your child to do before signing up.

How to Get a Kids' Debit Card

It's easy to apply for a kids' debit card, but you may have to complete a few more steps than you would with a typical debit card or bank card. Kids' debit cards can't be opened by minors; they must be opened by a parent or guardian over 18.

You can typically open a kids' debit card online, or sometimes through a companion mobile app.

1. Choose the right card: Find a reputable bank or credit union that offers kids' debit cards, or a prepaid card (check our picks above). Look for low fees, parental controls and monitoring, and age-appropriate educational resources.
2. Confirm age eligibility: Some age limits start around 8 or 10 years old, some debit cards for teens require at least age 13, and other cards have no minimum age limits.
3. Set up a joint account: Depending on the card, you may have to open a joint bank account with your child. Your adult account typically allows you to send funds to the child account, oversee your child's account activity, and set limitations on spending, withdrawals, etc.
4. Provide documentation: Gather the necessary paperwork, which typically includes proof of identity and address for both the parent or guardian and the child. You'll usually be asked to confirm your name, address, date of birth, and SSN; you may be required to upload images of your ID and a recent utility bill, or a credit card or mortgage statement.
5. Set spending/withdrawal limits: Many kids' debit cards allow the adult account to set spending and withdrawal limits. These can help instill responsible spending habits and ensure that your child stays within a manageable budget.
6. Monitor the account together: Actively monitor the account activity with your child. Regularly review purchases, deposits, and withdrawals together. This can reinforce responsible spending habits and provides an opportunity for ongoing discussions about financial products and responsibility.
   

Pros and Cons of Debit Cards for Kids and Teens

Pros

• Chore tracking and payments: One of the key perks of debit cards designed for children and teens is the ability to add chore lists. With certain cards, parents can create a list of tasks and tie them to allowance payments, helping children learn about the value of money by allowing them to earn cash by working.
• Educational resources: The leading kids' debit cards offer educational resources and tools, such as videos, calculators, and games. These tools teach users how to create a budget, track their spending, and manage their money. 
• Parental safeguards: Unlike standard debit cards, the best debit cards for kids feature parental controls. Parents can block purchases from certain sites and set limits on debit card usage to prevent excess spending. 
• Debit cards tied to checking accounts can receive paycheck direct deposits: If your child's debit card is connected to a checking account, it may be eligible to receive convenient direct deposits from a summer job. This helps you avoid the hassle of cashing paychecks.

Cons

• Age restrictions: With their low fees and added benefits, kids' debit cards can be appealing. But they are usually limited to certain ages, such as those under the age of 18. Once the child reaches the maximum age, they may have to transfer their money to another account or even to another bank. 
• Limited deposit or withdrawal options: With some financial institutions that offer debit cards specifically for kids and teens, you can only make deposits or withdrawals in certain ways. For example, the bank may only accept mobile deposits or electronic transfers, and may not permit ATM withdrawals. For young people looking to deposit cash they received for their birthday or take out money before heading out with friends, that issue can be a significant drawback. 
• Monthly fee may apply: Because of the added tools and features available with debit cards designed for kids, the issuer may charge a monthly fee. The fee can be relatively high, ranging from $4 to $15 per month in many cases.  
  

Should Your Child Use a Debit Card? 

If you're interested in ways to teach your child financial literacy and the ability to manage their own money, a kids' debit card is a great onramp to get them started. Many of these debit cards are prepaid cards, and most come with some form of parental controls, including spending alerts, and the ability to block inappropriate merchants. 

You can think of these debit cards as giving your child a real checking account with bumper lanes. Kids get the responsibility of handling their own finances without the risk of unfiltered access to a standard debit or credit card (there aren't any credit cards for kids because you need to be 18 to get a credit card in most cases, but in some cases it is possible to make kids under 18 authorized users on credit card accounts). And, although debit cards won't help build a positive credit history for your child, being responsible with a prepaid card is good training for using credit cards later on.

Alternatives to Debit Cards for Kids and Teens

Debit cards for kids provide some useful tools and added features. But for older teens or kids saving for long-term goals, those features may not be necessary. Since they may not use the tools or resources provided, the debit card may not be worth the monthly fee. Instead, these alternatives may be a better fit.

• Free checking accounts: Free checking accounts allow individuals to get access to a debit card and check-writing privileges without having to worry about monthly maintenance or account fees. Teens 18 and up can open a free checking account on their own, but younger kids can open one if a parent or legal guardian is willing to act as a joint account holder. 
• Savings accounts for kids: Many major banks offer savings accounts designed specifically for teenagers and children. Savings accounts for kids have low minimum deposit and minimum balance requirements—often as low as $0—and some pay competitive interest rates. 
• Credit card authorized user: Some credit cards allow you to designate your child as an authorized user. Not only does this give them a chance to learn how to use their first credit card, it allows your child to start building credit. If you so choose, you can set them as an authorized user to build credit without actually giving them a card to use.
  
• 529 plans: For families that want to save for a child's future, a 529 college savings plan can be an excellent option. A 529 is a tax-advantaged account that allows families to invest money, and the contributions grow on a tax-deferred basis. Once the child is ready for college, they can take tax-free withdrawals from the account to cover qualifying education expenses.
• UGMA/UTMA accounts: Uniform Transfers to Minors Act (UTMA) and Uniform Gifts to Minors Act (UGMA) accounts are types of custodial accounts that can be opened on behalf of a child. The custodian—the person that opens an account—can contribute money and invest the funds in the account. Once the child reaches the age of majority for their state, the funds are transferred to the child. 
• Coverdell: Like 529 college savings plans, Coverdell Education Savings Accounts are common tools families use to save for postsecondary education. However, Coverdell accounts can also be used to pay for qualifying elementary and secondary school expenses. Coverdell contributions are not tax-deductible, and there are income limits restricting who can contribute to a Coverdell account. 

How We Picked the Best Debit Cards for Kids and Teens

Although debit cards for kids and teens are a newer concept, there are already quite a few competing companies on the market. This can make it difficult for busy parents to decide, particularly when so many products offer a similar set of features. Some products also offer less pricing transparency, especially when it comes to extra fees, making it difficult to make a true apples-to-apples comparison.

We started with 25 of the top kids' debit cards. We compared 34 criteria for each company, including its history, reputation, features, and how the product works. We also looked at pricing and fees, including any that can be waived. We reviewed parental controls, education, security, and any other standout features to select the best options. 

Although we did consider some larger, national banks, our research indicated that the smaller, niche banks provided better services tailored to the specific needs of children and their parents.

Learn More About Banking for Kids and Teens

• Best Savings Accounts for Kids and Teens
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• Best Checking Accounts for Teens
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• Debit Card Definition, Fees, and How They Work
• How to Open a Kid's Bank Account
• Opening Your Child’s First Bank Account
• Getting Kids Their First Credit Card
• Financial Education Resources for Kids
• Teaching Financial Literacy
• Credit Tips for Teens
• Tips for Teaching Your Child to Save Money
• Questions Kids Ask About Money
  
• Finance Books for Kids
  
• How Prepaid Debit Cards Work
  
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• Investing for Teens: What They Should Know
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• Talking to Teens About Financial Risk