Our verdict
Current's Teen Banking debit card gives teens some financial freedom while allowing parents to track their kids' spending. There are no monthly fees, and parents have a range of controls, such as spending limits and blocking transactions from select merchants. Families can enjoy the chores and automated allowance features, as well as the savings roundup option to help teens achieve their goals. But parents must first get their own Current account before opening this account for their teen.Best for: Teens aged 13 to 17 in need of a free digital bank account with chore and allowance features.
- No monthly fee
- Parental controls and spending limits
- Roundup savings
- Chore and automated allowance features
- Parents must get a Current account
- $3.50 fee for cash deposits