This can be an opportunity to talk about the difference between “wants” and “needs.” For most people, finding a balance takes time, and managing a bank account is one way to practice. We’ll outline the features and fees of all three here. American Express Serve is not a card I would recommend to anyone! You can fund the card from your checking account, from PayPal, or via Direct Deposit. Secure A prepaid card can help him or her to do just that. And that knowledge can be a valuable tool in the world of adult money management. These prepaid debit cards for kids come from Famzoo, a system that allows you to set up debit cards for minors without a huge hassle. Which one works best for you depends on your teen’s usage and spending habits. Get (1) Free BusyKid Card When You Enroll In BusyKid Today! Let’s face it, your kids are going to have a debit card at their disposal at some point. You can use it for your grocery budget, your entertainment budget, or your kid’s allowance budget. Empower kids of all ages. Simple and Convenient What a joke, canceled my accounts, will not use them again! Also, check out the Greenlight Prepaid Card for kids. Order immediately online with no credit check. The Mango prepaid card allows purchases wherever Mastercard is accepted. Try FamZoo for 1 month FREE! This new all-in-one plan teaches them money management and investing fundamentals — with real money, real stocks and real-life lessons. Each prepaid card can be managed from within the Akimbo app. He does not track his spending well. TD Go is a reloadable prepaid card that gives your teen the freedom to purchase items online, in person, over the phone, or through their smartphone, anywhere Visa ® is accepted. Consider prepaid cards and other financial education tools as you raise your young ones. Free card load and ATM options. A debit card can also be used to get cash and make other ATM transactions. Other features of the GoHenry debit card include: You can try GoHenry for 30 days for free. Kids get their first sense of spending freedom, but also, face life-lessons and decisions that come with having a card. With that in mind, let’s take a look at some of the pros and cons so you can see what you both could get from the experience. If you have further questions, I urge you to follow the link and find the Account Disclosures as it details most everything about this type of account. So great appreciation to you for putting it out there where parents an kids can find the knowledge they need for this world today. After my husband and I got into over $60,000 in consumer debt, I made the decision that I’d teach our kids not to repeat our mistakes. Stay in the know with our newsletter or join our Facebook community. With this reloadable prepaid card, set spending limits to help manage money and teach financial responsibility. As low as 63 cents per card per month. What will the card cost? Sign up for your first bank account and spending card in minutes. This American Express feature that allows you to receive availability to Direct Deposit funds up to two full days earlier. The first subaccount card is free. Parents can even choose an auto feature that will pay their kids interest if they want. Each child gets a debit card to spend the money you’ve transferred into their account. Share your thoughts and experiences in the comments below. Greenlight Max gives every kid an edge. That will really depend on your child, where they’re at developmentally, and where you want to take them. allowance to the accessibility of a prepaid debit card. Greenlight. Parents can also set up email notification to keep abreast of card balances and expenditures. Greenlight is a straightforward and easy-to-use kids debit card and app. They’ll also learn that some spending choices simply waste their money. Cash reload prices of up to $3.95 per load (price varies by retailer). I wish this was true, but I think you’re just missing the decimal point in front of the 2. The product is much more than a debit card for spending as it teaches kids about saving, earning, how interest works, and more. Great article! A debit card is a payment card that deducts money directly from your checking account to pay for purchases instead of using cash. Our Top Picks for Best Debit Cards for Kids: Check out the list below and see which of these debit cards for kids will work best for helping you teach minors to manage money. And that electronic spending world does have its benefits, especially for parents whose kids are learning about money. Take your kid’s spending freedom to the next level with a BusyKid Visa® Prepaid Spend Debit Card. Why not get them used to it? For instance, you can transfer $5 into a child’s account when they complete a pay-worthy chore. However, some banks offer debit card access for children as young as 9 years old. Visit External Link I hope that helps. The BB&T Young Savers savings account is available to clients under the age of 18.