These cards also effectively function as a prepaid debit card because you can establish parental controls. Traditional banks or prepaid debit cards might not allow you to do this beyond keeping the account balance at a certain level.
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.
Like Axos’ First Checking, this Nationwide account works as a joint account between a parent or guardian and their teen, allowing for easy-to-set, customizable parental controls with a debit card dashboard.