Introduction
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Teaching Financial Responsibility
Debit cards for kids are great tools for teaching financial responsibility. They help children and teenagers learn how to manage money effectively.
Step Visa Card
Perks
- Earn 5.00% on savings
- Annual Fee: $0
- Regular APR: None
- Recommended Credit: No Credit
Pros
- Available for users under 18
- No minimum deposits
- Reports payments to all three bureaus
- No interest
- Rewards on purchases
- Early paydays
Cons
- No phone customer support
- Cannot deposit cash or checks
- Low ATM withdrawal limits
- No reported payments before turning 18
Below are our top recommendations for kids’ debit cards. We’ve examined each card’s features and fees to help you choose the best option for you and your child.
Top Debit Cards for Teens in February
- Famzoo Prepaid Debit Card: Best overall
- BusyKid Spend Card: Best for parental control features
- Chase First Banking: Best for traditional banking
- GoHenry Card: Best for financial literacy education
- Copper Debit Card: Best for teens
Best Overall: Famzoo Prepaid Debit Card
Insider’s Rating: 3.75/5
Fees
- $5.99 monthly service fee, $25.99 for six months, $39.99 for 12 months, or $59.99 for 24 months
Pros
- Assign chores and set weekly allowances
- Save for individual goals
- Parental monitoring features
- Access to over 30,000 ATMs without fees
- Up to four free debit cards included in the subscription
- Cash deposits available at Green Dot locations
Cons
- Monthly service fee varies based on the payment plan
- Cash reload fees up to $4.95 at Green Dot locations
- No reimbursement for out-of-network ATM fees
Product Details
- Access to surcharge-free ATMs via the MoneyPass network
- Minors of any age can get a debit card
- Multiple subscription plans available
- Load cash at retailers like Kmart, Rite Aid, 7-Eleven, or Walgreens
- Funds are secure in an FDIC-insured bank account
- Banking services provided by SouthState Bank (Member FDIC)
Best for Parental Control Features: BusyKid Spend Card
Insider’s Rating: 3.75/5
Fees
- $3.99 monthly service fee or $38.99 annual fee
Pros
- For children aged 5 to 17
- Assign chores and set weekly allowances
- Donate to charities and save for goals
- Parental monitoring features
- Access to 55,000 free ATMs
- Up to five free debit cards included in the subscription
Cons
- Monthly service fees vary based on the plan
- $1.50 out-of-network ATM fee
- No refunds for ATM provider charges
Product Details
- Access to surcharge-free ATMs via the Allpoint network
- Debit card and app for managing finances
- BusyKid Spend Card issued by MVB Bank (Member FDIC)
Best for Traditional Banking: Chase First Banking℠ Account
Insider’s Rating: 3.75/5
Fees
- No monthly service fee
Pros
- No minimum opening deposit
- No monthly service fees
- Debit card included
- Savings tools to set goals
- Parental monitoring tools
Cons
- No interest earned on account
- Fees for non-Chase ATMs
Best for Financial Literacy Education: GoHenry Card
Insider’s Rating: 3.5/5
Perks
- Teaches kids financial independence and money management through an app
Fees
- $4.99 per child per month
Pros
- In-app lessons on saving
- Assign chores and set weekly allowances
- Donate to charity and save for goals
- Parental monitoring features
Cons
- Cannot directly deposit cash
- No fee-free ATM network
- $1.50 out-of-network ATM fee
Product Details
- Zero Liability Protection by Mastercard®
- FDIC-insured accounts up to $250,000
- Real-time spending notifications
- Chip and PIN-protected transactions
Best for Teens: Copper Debit Card
Insider’s Rating: 3.75/5
Fees
- $4.95 or $7.95 monthly subscription fee
Pros
- In-app financial education lessons
- No overdraft fees or minimum balance requirements
- Access to 55,000 free ATMs
- Cash deposits available
- 2-day early direct deposit
Cons
- Cash reload fees up to $4.95 at Green Dot locations
- No reimbursements for out-of-network ATMs
Product Details
- Free ATM withdrawals at over 55,000 Allpoint ATMs
- Minors over 13 years old can get a card
- Funds are secure in an FDIC-insured bank account
- Banking services provided by Evolve Bank & Trust (Member FDIC)
Conclusion
Choosing the best debit card for your child involves considering features like parental monitoring, fees, and financial education tools. Our top picks offer a range of options to suit different needs and preferences. By selecting the right card, you can help your child develop smart money management skills early on.