Best Banking Apps for Kids & Teens

This blog post discusses banking apps for kids, teens and minors including some tips on what questions parents should ask themselves before letting their kids bank on their own.

What are Banking Apps for Kids and Teens?

Many kid-focused banking apps come with debit cards that are personalized for you. Mobile banking apps for minors make it easy to manage money and teach kids the value of spending and saving. However, these are not your traditional bank accounts.

How Do Banking Apps Work?

These money apps for kids work similarly to the ones parents use themselves. Both children and parents have online account access but these apps allow children to log into their own sub-accounts, like an authorized user on a credit card.

Do I Have an Account at an Actual Bank?

These platforms are actual banks, just not in the traditional sense of having established real estate to enter when needing to use a bank’s services. These online-only institutions function just like actual banks save the physical location you traditionally visited in the past.

How Do I Deposit Money on Banking Apps for Teens?

Banking apps for teens allow a parent or guardian to send money from their own account as one of the features for funding an account.

What are the Best Banking Apps for Minors?

1. Chase First Banking

Teach your kids to spend, save and earn — all from the Chase Mobile® app. Chase First BankingSM helps parents teach teens and kids about money by giving parents the control they want and kids the freedom they need to learn.

2. Greenlight Card

Greenlight provides parents control over where their kids can spend money by limiting the stores where their cards work. Parents can get alerts when money is spent on the Greenlight debit card and for how much. 

3. Copper Card

With the Copper app, you get easy snapshots of your accounts and, with the Copper Debit Card, it’s easy to shop in-store, online or with Apple or Google Pay.

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