Best Debit Cards for Kids and Teens: Greenlight, BusyKid, Capital One and More

Earlier than you select a debit card in your child, take into account the next components: Parental controls All of the apps listed above provide a wide range of parental controls, together with the power to routinely pay an allowance, lock the debit card or examine your child’s obtainable steadiness. Some options let you choose which sorts of purchases your youngsters could make, set spending limits and set rewards for finishing sure duties.Completely different apps present various levels of management, however most will allow you to preserve tabs in your kid’s spending and saving, and assist them handle their cash as wanted. Instructional sources A lot of the playing cards right here embody entry to instructional sources for you and your youngster. Your youngsters can be taught necessary expertise like budgeting, saving, spending and even investing. Some playing cards provide sources primarily based on age and monetary literacy classes — corresponding to spending, saving, credit score and extra.  Age Some debit playing cards designed for youths have minimal age limits, however most permit you to join a baby till they’re 17 years outdated; they will open an account on their very own at 18. You will have to verify the minimal or most age and determine if it is the precise time in your youngster to get a debit card. Eligibility Many debit playing cards designed for youngsters require private info and a shared checking account. Dad and mom should additionally present info and obtain the app to handle their child’s account and switch cash. Usually, this info contains easy identification corresponding to e mail, telephone quantity, handle and date of start. It might additionally embody the mum or dad’s and kid’s Social Safety numbers. Spending expectations Some debit playing cards for youngsters function spending and withdrawal limits that oldsters can set. You will wish to ensure your kid’s spending will not exceed the debit card’s limits.  Financial institution familiarity Do not forget to examine whether or not your most well-liked financial institution affords a kids’s debit card. It is often simpler to get new merchandise or good phrases if you have already got a longtime relationship with the monetary establishment.