Opening a child’s bank account with a debit card can be a big step for both a child and parents. So, it’s important to know what you are getting into before making your decision to move forward with your child’s first bank account and debit card.
What is a Child Bank Account with Debit Card?
As digital banking through an online portal and mobile app interface become the norm for how we buy and sell goods, get paid, transfer money and more, kids need to keep up with the times or risk getting left behind.
Does a Child Need a Checking Account to Get a Debit Card?
Having a bank account with a linked card can help parents manage their kids’ finances while also giving them the freedom to make some of their own money decisions—albeit with guardrails installed by parents and enabled by fintech apps.
What Age Can a Child Have Bank Accounts with a Card?
Most prepaid debit cards require the child to be 18 or older (or, sometimes even 16 or older). Though, you can also get around this situation through the use of adding your child as an authorized user on your existing prepaid debit card.
Are You Ready to Open a Bank Account and Debit Card for Your Kids?
If you feel ready to open a bank account with a debit card associated with the account, you’ll need to consider your available options. Have a look below at some useful debit cards for teens (or younger).
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.