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When comparing prepaid cards for teenagers, you may be looking for one with budgeting features and direct deposit capabilities that allow them to manage their money. But which card should you go with? The best prepaid cards for teenagers charge minimal fees and give you the flexibility to set spending controls should you need it. Here are our top five picks, along with a guide on how to compare your options.
A prepaid card refers to a card you can load money onto and use the same way you would a debit card. When your balance gets low, you can reload your card with more funds. Most prepaid cards can be reloaded as often as you like, but some, such as a gift card, can only be loaded with money once.
Make sure you keep the following factors in mind when comparing prepaid cards for teenagers:
Unlike a credit card, a prepaid card will not impact your teenager’s credit history. Because of this, prepaid cards can be a good way for them to learn how to budget, save and spend responsibly without the worry of it affecting either of your credit scores.
Use the table to compare the top prepaid cards by cashpoint withdrawal fees, monthly fees and features.
If you’re looking to help your teenager learn to manage their money or build their credit or banking history, you may want to consider a debit card. These are available to children aged 11-17 from most UK banks and building societies. If your child has a Visa, Mastercard or Maestro debit card linked to their bank or building society account, they can use it in shops and online.
Prepaid cards from challenger banks offer a good alternative to credit cards if your teen is younger than 18. Another option to consider is a student current account that comes with a debit card your teen can use for online purchases, in-store purchases and cash withdrawals.
Legally, no one can open a credit card unless they’re at least 18 years old. In the past, it was possible to add an under-18 as an additional cardholder in certain cases, but that’s no longer an option.
When comparing prepaid cards for teenagers, look for one that has minimal fees and the features your teen needs to develop good spending habits. If our top picks aren’t quite what you’re looking for, compare other prepaid card options to see if any of these suit them.
Back to topWe show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
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