Our pick for a kids debit card: Greenlight
$4.99
Monthly Fee
- Allowance payouts
- Usage notifications
- Parent-paid interest
We researched over 14 cards to bring you the top seven best kids debit cards in 2021 to help you find a card that works for you and your kids. All three plan options come with tools for helping your child learn to save, spend, earn and give. But the two highest plans come with an investing platform that let's your child buy real stocks with your permission.
BusyKid is set up to work with allowances, and once you set an allowance it'll be automatically transferred to your kid's card. You can even set a list of chores — each with a different monetary value. As with most prepaid cards, your kids don't get paid unless you confirm that they completed their chores. You can also decide what percentage of it they can spend, share and donate to charity.
Special offer: Try FamZoo for one month free As a parent, you can track where your child is spending their money. You can also set an interest rate to encourage them to save — but you'll pay the interest. If too much is coming out of your account, you can set a cap on how much interest you're willing to pay your child. FamZoo also lets you set up mock stocks so that your kid can practice investing. But like with savings, you're the one who pays anything they earn.
Greenlight
Monthly fees
Card purchase fee
ATM fee
Monthly fees
$4.99
ATM fee
$0
Card replacement fee
$3.50
Account type
Debit
Card type
Mastercard
Available to Temporary Residents
No
BusyKid
Monthly fees
Card purchase fee
ATM fee
Annual fees
$19.99
Additional Cardholder Fee
$7.99
Card replacement fee
$5
Paper statement fee
$5
Account type
Debit
Card type
Visa
FamZoo
Monthly fees
Card purchase fee
ATM fee
Monthly fees
$5.99
Additional Cardholder Fee
$2
ATM fee
$0
Card replacement fee
$0
Account type
Debit
Card type
Mastercard
Available to Temporary Residents
No
Best for teens
Monthly fees | $0 |
---|---|
ATM fee | $0 |
Card replacement fee | $0 |
Account type | Debit |
Card type |
Mastercard |
Available to Temporary Residents |
Yes
|
Yes, Jassby, Mazoola and Chase First Banking are three debit cards for kids that don’t require a monthly fee. With Jassby, you can avoid a monthly fee when you make one virtual debit card purchase a month.
Chase First Banking is a good option for those who like Greenlight but want a free alternative. The account is powered by Greenlight, so it has all the same features. But it’s only available to parents with existing Chase accounts.
Compare the following features when shopping around for a debit card for your child:
There are six common features to consider when looking for a debit card for your kid:
Use this table to compare popular debit cards for kids. Sort the list by monthly fee, ATM withdrawal and features to find the best one for you.
Most debit cards for kids are prepaid cards. You can load money onto them from an app using your checking account. Then, your kid can use them to shop online and in-store just as they would a normal debit card. The major difference is that your kid typically can’t overdraft with a prepaid debit card as they could a regular debit card.
A lot of these cards come with extra features, like the ability to see how your child spends their money or pay them for doing chores.
Prepaid cards are available for kids as young as five. But debit cards linked to traditional checking accounts usually require your child to be at least 13.
You can help your child transition to a prepaid debit card for teens once they turn 13, or you can help them open a checking account for teens if they’ve outgrown the prepaid card.
Yes, debit cards for kids are generally safe because of two main features. First, they’re FDIC-insured so you’re guaranteed to get your money back if the bank fails. Secondly, most debit cards for kids are COPPA-compliant, meaning they never sell or collect your child’s personal information, including their name, address, Social Security numbers, and even their geolocation and images.
Your child may be ready for a kids debit card if they often ask to borrow cash or have started earning money on their own — whether through an allowance or a paid job. A debit card like Greenlight can help them master the art of spending, saving and investing wisely.
If your child isn’t ready to handle real money just yet, consider a simulated bank account like Bankaroo or RoosterMoney. These apps use virtual money to help young children learn how to spend and save until they’re ready to upgrade to a real debit card for kids.
You can open most debit cards for kids online. But keep in mind that if you decide to open a kids checking account as opposed to a prepaid card, you’ll need to open it as a joint account between a minor and an adult.
Before you get a debit card for your kid, consider these features and drawbacks:
Here’s a quick overview of the top debit cards available for kids:
Card name | Features |
---|---|
BusyKid | Kids can donate money to charity, invest in stocks or spend with their prepaid debit card. You’ll get one free card and pay $7.99 a year for each additional one. |
Cashola | Offers educational quizzes and savings tools designed for Black and Latinx children. But you’ll pay $1 per transaction, which adds up quickly. |
Chase First Banking | It’s technically a kids checking account, but it’s powered by Greenlight and has all the same features. It’s free for parents with an active Chase Checking account. |
Copper | A full-fledged checking account tied to a Mastercard debit card and a mobile app that includes interactive quizzes to increase your kid’s financial literacy. The account also includes savings tools, but funds earn virtually no interest. |
FamZoo | The app divides your kid’s money into virtual piggy banks for spending, saving and giving. But there’s an unavoidable $5.99 monthly fee. |
Gohenry | A basic card with chore and allowance tracking. But be prepared to pay $3.99 a month for each child — unlike other platforms that charge a flat fee for the entire family. |
Greenlight | The most robust debit card for kids, offering savings and investing tools, plus store-level spending controls. Costs $4.99 to $9.98 a month depending on your plan but includes debit cards for up to five children. |
Jassby | A virtual debit card for kids with iPhones. It has budgeting tools and parental controls, plus a $2.99 monthly fee that’s waived with one debit card purchase a month. |
Kachinga | A prepaid Mastercard for teens tied to a chore app that includes features to boost your kid’s financial literacy. Parents can also activate automatic transfers and get real-time notifications about their teen’s purchases. |
Mazoola | The only free virtual debit card for kids. It offers basic chore and allowance tracking, spending controls and savings tools. But it’s not available on Android yet. |
Purewrist | A wearable payment bracelet that comes with a one-time prepaid card or a reloadable option. It costs $25 to activate, but your kid can customize their bracelet color. |
Revolut Junior | A free prepaid card with parent-paid bonuses, spending analyzers and task tracking. But adults must have a personal Revolut account to get started. |
RoosterMoney | A free allowance app that teaches kids how to earn, spend and save. The debit card option is currently only available in the UK, but the company is looking to expand it to the US soon. |
If you’re not set on a prepaid card for your child, here are some other options to consider, depending on their age:
A prepaid debit card for kids can help your child learn how to manage money responsibly — and let you track their spending so you can see if they’re meeting that goal. But while some prepaid cards let kids save money on them, they’re not a replacement for a savings account. Compare savings accounts for kids and prepaid debit cards to create a banking solution that’s right for your family.
Teach your kid to save, spend and give wisely with this prepaid debit card and mobile app.
The Stash debit card earns fractional shares as rewards, but balances don’t earn interest.
Use this allowance app to teach your kids about saving and spending.
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See how much interest you could earn with a savings account from Capital One.
An online savings account with a tiered interest model but not-so-competitive rates.
Help your child learn to spend and save wisely with a virtual, COPPA-compliant debit card.
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