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Akimbo review: Debit cards for all

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A generic prepaid card for budgeting or allowances — but it'll come at a cost.

Akimbo is a basic prepaid debit card platform that comes with one main card and up to five subcards. Some individuals use these subcards to divvy out funds for budgeting, while others use them to pay their teens an allowance. But only the first subcard is free, and the Akimbo app is missing key features — such as chore assignments and task tracking — that make it a good solution for teens.

$0

Monthly fee

$0

Signature transaction fee

$0.99

PIN transaction fee

Details

Card typeCredit
Card networkMastercard
Monthly fee$0
Signature transaction fee$0
PIN transaction fee$0.99

Expert review

Rhys Subitch

Review by


Rhys Subitch is a writer and editor at Finder who tackles topics across the site. With half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info on all things finance.

Expert review

Akimbo offers a unique way to manage funds through one main card and up to five subcards. The lack of monthly maintenance fees puts Akimbo ahead of several competitors. But cash reloads cost you and only the first card is free.

It’s ideal for those who want to take control of their budget by using separate cards for things like groceries, gas and entertainment. Or for parents who want to divvy out separate cards to kids and teens. Just keep in mind that it’s missing key features found in most prepaid cards for kids and teens. Akimbo doesn’t have any chore management integrations, so you can’t assign and track tasks in the app. And you can’t control how and when your child spends their money. For these reasons, it’s best for teens who are already financially responsible and need little supervision.

What you’ll like about Akimbo

Akimbo is a prepaid debit card that gives you the power to easily manage your family’s money. Similar to other debit cards you can switch the card on and off and receive text notifications. Other benefits include:

  • Create up to five subcards. Choose to have virtual or physical cards — both types count toward the five maximum.
  • Send money instantly. Transfer money from your main Akimbo balance to any other Akimbo card almost instantly and without attracting additional fees.
  • No monthly maintenance fee. There’s no monthly or annual fee for opening or maintaining your Akimbo account.
  • Request funds. Send a real-time request for funds from any of your Akimbo cards.
  • Automatic reloads. Set it and forget it with weekly automatic reloads to any of your Akimbo cards.
  • Send gift cards. Send digital Akimbo gift cards instantly via email or text.

What to watch out for

Prepaid debit cards come with limitations, and you may find that Akimbo isn’t as robust as other setups. Similar to other prepaid debit cards, you won’t earn interest on funds moved to your Akimbo cards and only one person can manage the account. Other drawbacks include:

  • ATM withdrawals and PIN transactions cost. Signature transactions come at no extra cost, but you’ll pay to make ATM withdrawals or PIN transactions and you can’t withdraw money using a subcard at this time.
  • Cash reloads come with a fee. While the fee isn’t charged by Akimbo, it’ll still run you a couple of bucks every time you want to put cash on your card.
  • Only the first subcard is free. Each subcard aside from the first one costs $4.95.
  • Not a complete chore app. While Akimbo bills itself good for allowances, it’s doesn’t offer chore or task management tools, which other apps and cards specifically designed for allowances have.

If you prefer a more comprehensive task-management solution for allowances and chores, compare your prepaid debit card options.

Compare Akimbo with other prepaid debit cards

Name Product ATM withdrawal Monthly Fee Features
Greenlight
$0
$4.99
  • Allowance payouts
  • Usage notifications
  • Parent-paid interest
Greenlight is the prepaid debit card for kids that parents manage from their phones with flexible parental controls.
BusyKid
$0
  • High load limits
  • Invest in real stock
  • Donations to 20+ charities
Link your child's BusyKid account to a prepaid card to help teach invisible money management. The base app has no fee, but you'll pay an additional $7.99 annually for each spend card
ACE Flare Account
$2.50
$9.95 per month (or $5 with a $500+ direct deposit) $9.95
  • Earn interest on your Flare Account
  • Optional Debit Card Overdraft Service
  • Get paid up to 2 days faster with Direct Deposit
Withdraw up to $400 in cash per day without a fee at participating ACE locations when you have qualifying Direct Deposit activity.
FamZoo
$0
$5.99
  • Free trial
  • Real-time requests
  • Parent-paid interest
Teach your children good money habits with this comprehensive prepaid card and account.
Brinks Prepaid Mastercard
$2.50
$9.95 per month (or $5 with a $500+ direct deposit, or $0 with pay-as-you-go)
  • Mobile app
  • Direct deposit
  • Payback rewards
No credit check. No minimum balance. No late fees because this is not a credit card.
PayPal Prepaid Mastercard
$1.95
$4.95
  • Manage money on the fly
  • Receive special offers and cash back rewards
  • Get your state and federal tax refund faster than a paper check
Use the no-cost direct deposit service and have access your funds up to two days faster than what traditional banks offer.
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How do I get Akimbo?

You can apply for an Akimbo account online at any time.

  1. Go to the Akimbo website.
  2. Click Get started.
  3. Choose who will use the card and select Next.
  4. Give the card a name and choose a physical or virtual card then click Next.
  5. Fill out your contact info and create a password. Then select Next.
  6. Verify your email.
  7. Review the fees and click Next.
  8. Provide your address, Social Security Number and date of birth and select Order my card.

Eligibility

To open an account you need to be a US citizen and at least 18 years old. Authorized users must be at least 13 years old.

Required information

To sign up you’ll need to provide your:

  • Full name
  • Email and cell phone number
  • Residential address
  • Date of birth
  • Social Security number

Akimbo card funding options

You can fund your main account in a few ways. Reloading via check or cash may cost extra.

  • Direct deposit
  • ACH transfer
  • PayPal
  • Mobile check deposit via Ingo
  • Cash via Mastercard rePower or Green Dot Reload at the Register
  • Transfers from other Akimbo cards

How long will it take to get my Akimbo card?

Cards arrive five to seven business days after your information is verified.

I got my Akimbo card. Now what?

Once you’ve got your card in hand you can:

  • Set up direct deposit. You can set up direct deposits from your employer, government stipend or tax refund.
  • Transfer money to your main account. Start funding your prepaid debit card using any of the six available funding options.
  • Order more subcards. Order up to five subcards and customize them for any use.
  • Set up automatic reloads. If you want to transfer money to your card regularly, set up automatic reloads from your bank or main Akimbo account.

Frequently asked questions

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