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Copper Banking Alternatives

Copper is no more — here are some top alternative kids’ bank accounts to consider switching to.

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By

Bethany Hickey

Edited by

Holly Jennings

Updated

Fact checked

Fintech company Copper closed all its deposit accounts in May 2024. At its peak, it had over 1 million users and provided teen-centered banking services. It offered 2% to 5% savings rewards, various savings tools, educational materials and an optional investing platform. It was a decent kids’ banking app, but now that it’s no longer an option, here are some Copper alternatives with similar features.

6 alternatives to Copper

Alternative for parental controls

Greenlight

9.2 Excellent

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Greenlight is a top kids' banking option featuring granular parental controls and no age requirements. Parents set spending custom limits by store and category, monitor spending, approve or deny money movement between spending and saving, and be able to turn cards on and off. Greenlight also has chore and allowance features, up to 2% to 6% savings rewards depending on your plan, a financial literacy game and an investing platform. With pricier plans, you get extra safety features like identity theft insurance, SOS alerts, location sharing and phone and purchase protection. But you can't avoid a monthly fee: $5.99 for Core, $9.98 for Max, $14.98 for Infinity and $24.98 for Family Shield. However, each plan allows up to five kids and comes with chore tracking, custom spending controls and more.
Maintenance Fees $5.99 monthly
Age requirements Any age

Alternative for money games

Acorns Early (formerly GoHenry)

8.6 Great

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Acorns Early has a lot of similar features to Copper. For kids aged six to 18, it has educational money games and interactive quizzes developed by teachers and financial experts with its feature Money Missions. Kids learn basics around earning, savings budgeting and more while earning points and badges to unlock new levels. Acorns Early also has chores and allowance tracking, customizable debit cards and strong and customizable parental controls. Pricing is similar to Copper, costing $8 per month for one kid or $10 for up to four kids.
Maintenance Fees $8 monthly
Age requirements 6 to 18 years old

Alternative for a traditional option

Chase First Banking℠

8.6 Great

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Chase First Banking is a kids' bank account by the Big Four bank, but it's powered by Greenlight. For kids aged six to 17 and with no monthly fees or opening deposit requirements, it's a solid first checking account with tons of perks. You get chores and allowance features, choose where your kids can spend, create savings goals and track everything with the Chase mobile app. While this account doesn't cost anything to open or maintain, parents must have their own Chase checking account to open First Banking, but you can have up to five of these accounts.
Maintenance Fees $0 monthly
Age requirements 6 to 17 years old

Alternative for free

Step

8.8 Great


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Step is a fintech company like Copper was, but Copper had a monthly fee. Step's basic card doesn't have any monthly fees, overdraft fees or APR. It's available for all ages but is heavily geared toward teens, offering perks like building credit history, savings rewards up to 3% with direct deposit requirements and up to 3% in cashback rewards. Step's cards are interest-free and secured by a deposit account, so users can only spend what's in their linked account. And just like Copper, Step also has an investing platform but doesn't require a paid plan like Copper did. Step also offers up to 3% savings rewards, but you need a monthly direct deposit of at least $500 to earn that rate. If you want more cashback rewards, the Step Black card, for ages 13 and up, offers up to 8% on select purchases with a waivable $4.99 monthly fee.
Maintenance Fees $0 monthly
Age requirements Any age

Alternative for savings roundups

Current teen banking

9.6 Excellent

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Current is designed for teens 13 and up but has no specific age requirements. It also has no monthly fees, whereas Copper charged at least $4.95 per month. It has similar savings tools as Copper, such as an automatic roundup feature. Plus, parents can set spending limits on specific categories or turn off ATM usage or block merchants altogether. However, to get Current teen banking, parents must have a regular Current account for management. Luckily, that account is also free to open and maintain.
Maintenance Fees $0 monthly
Age requirements Any age

Alternative for teen banking

Axos Bank First Checking

8.6 Great

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Axos Bank First Checking has no monthly or overdraft fees or opening deposit requirement and is available to teens aged 13 to 17 as a joint bank account. What makes Axos great is it has one of the largest ATM networks among online banks, featuring over 91,000 ATMs nationwide. Teens can withdraw cash at these ATMs with no fees and get up to $12 in ATM reimbursement per month. And it earns 0.1% APY. While this account doesn't have as many parental controls as Copper or others, teens have a $500 daily debit card limit and a $100 daily cash withdrawal limit.
Maintenance Fees $0 monthly
Age requirements 13 to 17 years old

How Copper compares

On May 13th, Copper closed its kids’ bank accounts. Its accounts offered 2% to 5% savings rewards, financial literacy education and up to five subaccounts. Kids and teens could divide their money into savings buckets and use savings roundups, and kids got virtual and physical debit cards. Parents also got strong parental controls, and it had an investing platform with the Copper + Invest plan.

The downside of Copper was its unavoidable monthly fee, either $4.95 or $7.95 per month. And there were reload fees if you funded your kids’ card with your debit card, costing 2.5% + $0.30 per transfer. But overall, it was a solid kids’ bank account.

For more kids’ banking options, see our list of the best debit cards for kids and compare kids’ savings.

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To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.
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Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

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Bethany has written 470 Finder guides across topics including:
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