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Banking for kids, teens and families

Teach your kids good money habits with this kids' banking guide.

Compare kids bank accounts

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Finder Score Fee Age requirements Features
$8 per month
6 to 18 years old
  • Automate allowance & instantly send money to your child
  • Optional parent-paid savings interest
  • Spending controls & limits
  • $8/month after Finder exclusive free trial
Get 2 months free and $10 allowance when you sign up to Acorns Early with Finder's exclusive code: AFFUSFDR10. T&Cs apply.
Get interactive money and investing tools for your kids, including expert-developed games and quizzes. Offers strong parental controls that allow you to set where and how much your child can spend.
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$5.99 per month
Any age
  • Spend, save & invest
  • Chores & allowance tools
  • Spending controls & limits
  • Instantly send money to your child
  • Up to 6% savings rewards
Teach your child to spend, save and invest all in one app. Get 5+ financial literacy tools, including chores and allowances. All with powerful parental controls to decide where your child can spend and how much. Includes up to 6% savings rewards.
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Current logo
$0 per month
Any age
  • Automatic savings round-ups
  • $0 monthly fee
  • Spending limits and parent notifications
  • Instant transfers to your teen
  • Parent Current account required
Current’s Teen Banking card allows parents to track their teens’ chores, allowance, and spending. Requires parent to have a Current account. FDIC insured.
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Step logo
$0 per month
Any age
  • No interest, no monthly fees, no account minimum fees, no overdraft fees, and no in-network ATM fees
  • Kids build positive credit history before turning 18 with reporting to all three major credit bureaus
  • Block merchants, freeze cards, monitor spend, add money, and automate allowances 24/7
  • Families get 1% cashback and 3% on savings with Step Black
Teens can build positive credit history before 18 with the free Step Card. Families get 1% cashback and 3% on savings with Step Black. No fees required.
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Chase logo
$0 per month
6 to 17 years old
  • $0 monthly fee
  • Financial learning tools for kids
  • Flexible parental controls
  • Supports chores and allowances
  • For kids ages 6 to 17
  • FDIC insured
A debit card for kids and teens with parental controls and digital tools to help them learn good money habits in the Chase Mobile app. Requires parent to have or open a Chase checking account. FDIC insured.
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What is the Finder Score?

The Finder Score applies to 45+ kids' debit card options. It takes into account the card's fees, features, age requirements, ATM access and more — this gives you a simple score out of 10.

To provide a Score, we compare like-for-like debit cards. So if you're comparing the best kids' cards with no monthly fees, you can see how card stacks up against each other by features, opening deposits and other benefits.

Read the full breakdown

Kids’ banking resources

Explore these useful banking tools and resources for your kids.

    • Kids’ Chore Calculator. If you decide to teach your child the value of a dollar through a chore allowance, use this calculator to determine how much you should pay them based on age and your state.

Kids chore calculator

Calculate how much to pay your kids for completing their chores by selecting your state, child's age, child's savings goal, and chore.

State
Kid's age range
Kid's weekly savings goal
Add chore
calendar iconWhich days will this chore be completed on?
Chore S M T W T F S Rate
Add chores to work out weekly total
Weekly total $0

Your child is 0% toward their weekly savings goal of $0.

Chore rates are based on suggestions from experts. See our methodology.

Learn more about kids’ bank accounts

From opening an account for your newborn baby to saving for college, explore various kids banking topics below.

kids

Compare bank accounts for your baby

Opening a bank account in your child’s name can be a great way to save for future educational expenses and teach your child good money habits. But not all banks and credit unions allow you to open an account for a baby. Find out which ones you qualify for here.

kids

529 savings plans

Education savings accounts, also known as 529 plans, are set up to save for your child’s future education. The funds from these accounts are used to cover educational expenses, such as elementary or secondary school expenses or college tuition. The number one perk of these savings accounts is that the earnings from the investment as well as any withdrawals from the account are not taxable for federal income tax purposes.

kids

How to save for college

College gets more expensive every year. The earlier you save, the greater the chance you have to combat student debt in the future. Uncover the average cost of tuition, fees and room and board. Then learn how to create a savings plan that helps your money go further.

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