Parents are constantly buying presents for their children—whether they need them or not. If you’re not buying the latest Lol Surprise doll, Squishmallow, or Pokémon cards, you’re taking your kids to the store to let them pick out their own.
But what if you could just transfer money to your child and let them buy their own items? Well, you can! Not only do kids’ debit cards make it easier for you to send cash and avoid the fluorescent lights at the shopping mall, but they also teach your child money management skills. It’s a win-win situation.
The only choice you need to make is which kids’ debit card to open. Seeing as you’ve found your way to this article, I’d wager you’re considering BusyKid and Chase First Banking. I can help you choose between the two.
Today, I’m going to give you in-depth looks into each debit card. I’ll provide an overview, costs, list of noteworthy features, and more. Just in case you aren’t convinced either card offers everything you need, I’ll also highlight a few more top kids’ debit cards available.
BusyKid vs. Chase First BankingSM Comparison
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|---|---|---|
| WealthUp Rating | ☆ 4.0 / 5 | ☆ 4.8 / 5 |
| App Store Rating | ☆ 3.4 / 5 | ☆ 4.8 / 5 |
| Price* | $48/yr. | No monthly fees |
| Billing | Annually | N/A |
| Special Offer | Free 30-day trial | N/A |
| Allowed Cards Per Subscription | 5 | 1 |
| Minimum Age** | No | 6 |
| Features That Make This Card Stand Apart | Low price compared to other kids' paid debit cards | Access to 4,700+ branches |
Basics | | |
| Spending | Yes | Yes |
| Saving | Yes | Yes |
| Investing | Yes (Stocks and ETFs) | No |
| Giving/Donating | Yes | No |
Funding | | |
| Funding Source(s) | Checking account, debit, or credit card | Chase bank account |
| Direct Deposit | No | No |
| Allowance | Yes | Yes |
| Chores | Yes | Yes |
| Gifting | Yes ($1/transfer) | No |
| Cash Reload Fee | N/A (No cash reload) | N/A (No cash reload) |
Saving/Spending | | |
| Savings APY | None | N/A |
| Round-Ups | No | No |
| Other Savings Features | Parental Match | None |
| ATM Network | Allpoint (55,000+ ATMs) | Chase (15,000+ ATMs) |
| ATM Transaction Fee | $1.50 (Operator fee may apply at out-of-network ATMs) | $0 in-network (Operator fee may apply at out-of-network ATMs) |
| Card Network | Visa | Visa |
| Compatible Mobile Wallets | Apple Pay, Google Pay | N/A |
Parents | | |
| Parental Controls | Medium (Limited transfers from app to card) | High (Store-level controls and limit setting) |
| Parental Monitoring | Yes | Yes |
| Parental Notifications | Yes | Yes |
Other Features | | |
| Cash Back | No | No |
| Builds Credit | No | No |
| Customization options | Select from 10+ preselected designs | No |
| Refund Policy | 30-day money-back guarantee | N/A |
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| * Prices do not include processing fees when applicable. ** Many cards have different suggested minimum ages. We are only listing any hard-and-fast minimum age requirements. *** In some cases, funding sources may apply to parent account, which subsequently must be used to fund the child account. |
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BusyKid Overview
- Available: Sign up here
If you’re looking for prepaid debit cards for kids that let your kids spend while learning about money, and lets you pay them allowance, consider the award-winning BusyKid app and the connected BusyKid Visa Spend Card.
BusyKid started as an easy-to-use, interactive chore app but has since added a prepaid debit card for kids that allows your children to spend their money both in person and online. Better still: Your children can earn money by completing chores and other tasks around the house, then use the app to learn valuable financial skills, such as budgeting, saving, and even giving back.
Parents can pay allowance on an ad hoc basis, or they can set up Auto-Allowance. When parents add to their children’s accounts, that money can be split among their Save/Invest, Share, and Spend allocations:
- Save/Invest: Parents can automatically allocate money toward a savings basket, and they can also match any money their children elect to save.
- Spend: When your kid is ready for a little independence, they can spend from this account using BusyKid’s Visa Spend Card.
- Share: Children can choose which charities they would like to give money to, and parents must approve before the cash is transferred.
Parents aren’t the only people who can add money to children’s BusyKid accounts. With BusyPay, parents can share a simple QR code that allows grandparents, aunts, uncles, other family members, and even friends to add money—whether it’s a birthday present or a payment for chores. BusyKid charges the giver a $1 fee plus any credit card or bank transaction costs.
BusyKid also allows children to invest their earnings through the app. Doing so requires setting up a separate Apex Clearing account. Children can choose to invest in hundreds of stocks and ETFs with as little as $10.
BusyKid has no minimum age requirement.
In addition to the $4 monthly subscription, BusyKid charges other fees, including 50¢ per declined transaction, $5 for a card reissue, and a $5 monthly fee for paper statements.
- BusyKid is an award-winning, parent-approved app that educates kids about money.
- Parents can pay allowance on an ad hoc basis, or they can set up Auto-Allowance.
- Parents can split allowance money across Save (and even match money in the Save category), Spend (which kids can access with their Visa Spend Card), and Donate (children can choose charities to donate to; parents must approve).
- Parents can set up a separate Apex Clearing brokerage account to allow their children to invest earnings through BusyKid, with as little as $10.
- Feature-heavy allowance function
- Offers investment functionality
- Combines several kid-focused financial needs in one app
- Charges a fee
- Lower customer user ratings than competitors
Related: Best Greenlight Alternatives
BusyKid Plans + Costs
BusyKid has a simple, single subscription tier that costs $3.99 per month, which is billed annually, so you pay $38.99 once per year.
| Plan | Monthly Fee | Features Offered Under Plan |
|---|---|---|
| BusyKid | $4/mo. (Billed annually, so $48/yr.) | - BusyKid Visa Spend Cards for up to five kids - Core financial tools - Parental controls - Chores - Allowance - Savings matches - Ability to earn, save, spend, invest and give |
Also, people outside of the BusyKid account who want to send money to a child must pay a $1 fee per transaction.
Past that, BusyKid’s other fees are pretty standard and minimal. For instance, it charges a $5 replacement-card fee and a 50-cent domestic fee for declined charges.
If you’re not satisfied, BusyKid provides a 30-day subscription-back guarantee. While it sounds nice, that’s actually a step down from most other cards. I’ve reviewed more than a dozen kid-focused cards, and most of them offer 30-day/one-month free trials—meaning you don’t have to spend anything until you’re sure you’re happy with the product. But with BusyKid, you have to pay up front, then ask for a refund if you’re not happy. It’s a small difference, but one I think is worth noting.
Related: Best Teen Checking Accounts
BusyKid Features
Below, I’ve listed a number of BusyKid’s most prominent features. Like with all debit cards aimed at children and teens, some of these features are for the kids, but others are meant to keep parents happy (and sane).
BusyKid Visa Spend Card
The BusyKid Visa Spend Card is a prepaid debit card for kids and teens that acts as the physical central point of the BusyKid experience. Each BusyKid subscription comes with up to five of these kids’ debit cards, which are intended for use by children ages 5 through 17.
Kids can choose from a small selection of more than 10 designs.
The adults can instantly transfer funds at any time. Kids have to follow the set spending limits, so they can’t overspend as they learn money management skills.
Every debit card is backed by the Visa Zero Liability guarantee, which means if your kid’s card gets lost or stolen, or misplaced and fraudulent charges crop up, you can dispute the charges within a certain time frame to avoid liability for paying.
Related: Best Money Apps for Kids
Parental Controls
Parental controls are essential for parents who want to retain some peace of mind while their kids develop money management skills.
With BusyKid, parents can monitor all transactions made either in the app or with the BusyKid Visa Spend Card.
BusyKid’s parental controls are pretty rudimentary. By using the “Lock Money Transfers” feature, parents can prevent their kids from transferring money among their Save, Share, and Spend areas. Kids will still be able to use the money in these accounts, but each transaction will require a parent’s approval.
Chores + Allowance
Some parents like to pay an allowance to their younger children, and this might or might not be connected to chore completion. BusyKid allows you to pay an allowance to and/or set chores up for your child. For chores, parents can set up their own chores and payment amounts, or they can use BusyKid’s preset chore chart, where chores and allowance are preset based on a child’s age. As kids complete their chores, they can click “I did it!” inside the BusyKid app.
BusyKid pays kids each Friday based on any chores the child has marked “Done” since the previous Friday. Parents will be notified and asked to approve; when it is, it will be deposited into the child’s various account areas depending on how their allocations were set up.
BusyPay
The BusyPay feature lets family and friends instantly send money to a BusyKid account, whether it’s as a birthday or holiday gift, payment for helping out, or just because. It’s easy, too—a child just has to share a QR code, and anyone can pay them. (Note: The payer is charged a $1 fee to use this feature.)
Related: How to Get Free Money [Ways to Earn Money]
Bonuses + Savings Matches
Several BusyKid features help your children accelerate their earning and saving.
For instance, let’s say your teen stepped up to babysit a younger sibling, or one of your kids got a perfect report card—BusyKid allows parents to pay a bonus to any of their kid’s account areas or even directly to the BusyKid Spend Card.
Parents can also establish a savings match, which is similar to a 401(k) match. Parents simply select a weekly percentage match, or a monthly max that’s dividend equally across all the weeks in a month, and BusyKid will transfer the appropriate amount of additional funds to the kid’s account based on how much they save.
Related: Best Round Up Apps + Savings Accounts
Investing
Learning to invest is an important part of the personal finance journey. BusyKid helps children with that journey by providing commission-free stock trading.
BusyKid offers commission-free trading of stocks and exchange-traded funds (ETFs), allowing kids to start investing with as little as $10. BusyKid provides access to “hundreds” of popular stocks and ETFs—a considerably smaller selection than the thousands of stocks and ETFs available from traditional brokerage accounts, but a sufficient world of assets to get a child started.
Related: Best Trading Apps for Under 18 [Investing Apps for Teens]
Charities
Parents who want to instill the importance of giving back to their children at a young age can allow their kids to donate a percentage of their allowances to charity. Kids can choose among roughly 50 charities, and BusyKid even welcomes suggestions for other charities to add.
You can sign up for BusyKid here.
Related: Best Credit Cards for Kids [Kid-Friendly Credit Cards]
Chase First BankingSM Overview
Chase First BankingSM (Best Free Debit Card for Kids)
- Available: Sign up here
- Price: Free (no monthly fees)
Ready to teach your little ones about money, but not quite sure if you have the time, patience and expertise?
Chase First BankingSM offers simple banking for both of you in one location—the Chase Mobile® App—for free . With Chase First BankingSM , parents can help their kids learn how to spend, set up savings goals, and even pay allowance or money earned completing chores.
Need insight and oversight into your child’s spending and saving? You can set up spending notifications, as well as set limits on how much and where your child can spend, from the Chase Mobile® app. Chase First BankingSM also helps parents teach teens and kids about money by giving parents the control they want and kids the freedom they need to learn.
At the heart of Chase First BankingSM sits one of the best free debit cards for kids and teens. It works anywhere Visa is accepted, and it allows your kid to withdraw money, fee-free, from more than 15,000 Chase ATMs around the country.
To get started, you’ll first need to be a Chase customer with a qualifying Chase checking account. Consider opening a Chase Total CheckingSM or Chase Secure BankingSM account to qualify.
- Chase Total CheckingSM also grants access to more than 15,000 Chase ATMs and more than 4,700 branches. You can pay $0 in monthly fees, subject to meeting certain conditions.* And if you set up direct deposit within 90 days of coupon enrollment, you can earn a $300 sign-up bonus!
- Chase Secure BankingSM offers the same Chase ATMs and branch locations as well as a $100 sign-up bonus when you make stated qualifying activities and meet certain conditions.
Once you open a qualifying Chase Checking account, you may apply for a Chase First BankingSM account for your child.
Chase First BankingSM is designed with kids ages 6-12 in mind, but it is available for ages 6-17. Read more in our Chase First Banking review.
- Chase First Banking offers simple banking for both of you in one location: the Chase Mobile® App—for free.
- The account is designed with kids 6-12 in mind, and available for ages 6-17.
- You can set spend alerts and limits as well as specific locations all in your Chase Mobile® app.
- Teach your kids to spend, save and earn with Chase First Banking. The account helps parents teach teens and kids about money by giving parents the control they want and kids the freedom they need to learn.
- No monthly maintenance fees
- Chore and allowance functionality
- Parental controls on types of expenses
- No paired investment account
- No interest
Related: Best Trading Apps for Under 18 [Investing Apps for Teens]
Chase First BankingSM Plans + Costs
Chase First BankingSM is a primarily fee-free kids’ debit card.
| Plan | Monthly Fee | Features Offered Under Plan |
|---|---|---|
| Chase First BankingSM | N/A | - Chase First BankingSM debit card - Parental controls - Savings goals - Allowance and chores - Physical bank locations |
A few situations where fees may be charged include:
- Expedited shipment of a replacement debit card ($5)
- Using the debit card at a non-Chase ATM ($3)
- Using the debit card to make an ATM withdrawal or transfer inquiry outside the U.S., Puerto Rico, and the U.S. Virgin Islands ($3 for transfers or inquiries, $5 per withdrawal)
- For international card purchases or withdrawals, you have to pay 3% of the amount after conversion to U.S. dollars.
But note that these are all pretty common fees for debit cards.
Related: Best Brokerage Accounts for Teens
Chase First BankingSM Features
Below are some of the most notable features of Chase First BankingSM. These features are designed to strike the delicate balance of giving kids independence while keeping parental safeguards in place.
Chase First BankingSM Card
The Chase First BankingSM card is a Visa-branded debit card that can be used anywhere Visa is accepted (at physical stores and online), as well as at 15,000 fee-free Chase ATMs. The card is protected by Visa’s Fraud Protection and Zero Liability guarantee; as long as you dispute fraudulent charges within the stated time frame, you can avoid having to pay for those charges.
Admittedly, Chase First BankingSM has some of the strictest funding limitations of all kids’ debit cards. You must fund the account from a qualifying Chase checking account, such as Chase Total CheckingSM or Chase Secure BankingSM . That means you can’t fund the account from other traditional funding sources, like third-party payment apps, cash, and any other bank’s debit cards or checking accounts.
Parental Controls
Chase First BankingSM offers some of the best parental controls among all the kids’ debit cards I have reviewed.
You can use the Chase Mobile® App to set limits for where and/or how much your kid or teen can spend. Don’t want them eating too much fast food? Set a $15 limit at fast-food restaurants. Worried about your kid overspending in general? Just limit how much the card can be used for anywhere. You can even set withdrawal limits at ATMs.
Parents can also enable account alerts. There are three categories of alerts, including:
- Balance & spending
- Security
- Chase First Banking (transfer money requests, ATM use, card declined, etc.)
You can choose to be notified via email, push notification, text message, or a combination of multiple alerts.
Has the card gone missing? Don’t worry about it. It can be locked or unlocked from the app. Children can also lock and unlock their cards, but if a parent locks the card, the kid can’t unlock it.
Savings Goals
Children can create savings goals and transfer money toward those goals at any time. Parents can transfer money to the kid’s goals as well. And the Chase Mobile® App makes it easy to track their progress.
Allowance + Chores
Whether you want to pay daily, weekly, or monthly, it’s easy to set up recurring allowance transfers through the Chase Mobile app. You can also assign repeating chores and pay your kid when they’ve completed them.
Physical Locations
Many of the most popular debit cards for teens and kids are offered by online banks with no brick-and-mortar locations. Chase, however, has more than 4,700 physical locations. If you find comfort that you could speak face-to-face with a human if anything goes wrong, this debit card and accompanying account could be a good fit for you. Plus, you can deposit cash and checks for free.
You can sign up for Chase First Banking here.
Related: Best Child Bank Accounts With Debit Cards
BusyKid vs. Chase First BankingSM: Our Editors’ Choice Is …
BusyKid and Chase First BankingSM both offer useful features for families.
Chase First BankingSM stands out from most kids’ debit cards in that users have access to over 4,700 branches. Also scoring points for Chase First BankingSM is the fact that it pays interest on the money in the account (albeit a low amount), makes it easy for kids to set goals, and provides comprehensive parental controls. Plus, it doesn’t charge a monthly fee or any ATM transaction fees. Note that to sign up for Chase First Banking, parents need to be Chase® customers.
BusyKid offers several valuable features that Chase First BankingSM doesn’t though. The biggest selling point is that BusyKid lets kids invest in stocks and ETFs. This feature gives children hands-on investing experience to prepare for the future and has the potential to grow their money significantly over time.
For any uninvested money, parents have the option to encourage saving with a parental savings match. BusyKid also lets kids donate to charity, choose their favorite debit card design, and easily be gifted money from other family members. While this is a paid account, it allows up to five kids per subscription. You can try BusyKid for free for the first 30 days.
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Runner-Up: BusyKid
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Our Pick: Chase First Banking
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Primary Rating:
4.0
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Primary Rating:
4.8
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Related: 13 Best Allowance and Chore Apps for Kids [Easier Family Life]
Other Debit Cards for Kids to Consider
Are neither BusyKid nor Chase First BankingSM the best fit for you and your family? You may want to try one of these other highly rated debit cards for teens.
| App | Apple App Store Rating + Best For | Fees | Promotions |
|---|---|---|---|
 Greenlight | ☆ 4.8 / 5 Customer rating and parental controls | Core: $4.99/mo. Max: $9.98/mo. Infinity: $14.98/mo. (Each plan supports up to 5 children.) | None |
 Copper Banking | ☆ 4.9 / 5 Teen financial independence | Copper $4.95/mo., Copper + Invest: $7.95/mo. | 30 days free |
 GoHenry | ☆ 4.6 / 5 Accessible customer service support | 1 month free. Individual: $4.99/mo. Family (supports up to 4 children): $9.98/mo. | 1 month free |
 Revolut <18 | ☆ 4.7 / 5 Parent-paid bonuses | No monthly fees | None |
 Axos First Checking | ☆ 4.7 / 5 Teens ready to learn about money management | Free (no monthly fees) | None |
| *Apple App Store Rating as of April 1, 2024. | |||
Related:
- Best Brokerage Accounts for Minors
- Best Trading Accounts for Minors
- Best Taxable Brokerage Accounts for Parents + Teens
Revolut <18 Disclosure
The Revolut prepaid card is issued by Community Federal Savings Bank, Member FDIC, pursuant to license by Visa.
Chase Disclaimer
* Chase Total Checking charges a $12 monthly service fee. However, that fee may be waived with one of the following, each monthly statement period: 1.) Electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment or FedNow℠ network, (iii) third-party services that facilitate payments to your debit card using the Visa® or Mastercard® network, OR a balance at the beginning of each day of $1,500 or more in this account, OR an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings, and other balances.
