A bank account gives kids the chance to learn real-world money management skills. Combining this with a debit card lets you teach your child about responsible spending habits.
Free debit cards for kids can be an excellent tool to help your child understand critical financial lessons. They can also teach your child about the importance of avoiding bank fees.
Here’s a closer look at the best free debit cards for kids.
Top Free Debit Cards for Kids
Whether you are looking for an interest-earning card, financial literacy tools or a credit-building option, these debit cards for kids offer minors an opportunity to open an account and start practicing money management skills.
In alphabetical order, here are the best free debit cards for kids.
1. Axos First Checking
Axos First Checking has a joint checking account for teens and parents. It’s available for teens ages 13 to 17.
The main perk of this checking account is the interest-earning feature. It’s a useful way to encourage your child to save money and watch it grow.
If you are concerned about your child overspending, the daily transaction limits of $500 for debit purchases and $100 for cash withdrawals will come in handy. Plus, you’ll get real-time updates on all your child’s debit card activities.
The extensive security options that come with this checking account will even help keep your child’s funds safe while they learn money management skills.
Although there are limited features, this debit card for kids provides a straightforward solution to educate them about important financial lessons. Without extra bells and whistles, kids can focus on understanding the basics of money management.
Learn more: Axos Bank Review
Pros
- Earns interest
- Small daily usage limits
Cons
- Minimum age of 13
- Limited features
2. Capital One Money
Capital One Money provides a joint checking account for kids and parents. Kids between the ages of eight and 17 can open this account.
Better yet, parents don’t need to be existing Capital One customers to sign up.
As a parent, you can:
- Track account activity
- Pay an allowance
- Lock your child’s debit card
Within the mobile app, teens can set savings goals and monitor their financial health.
A key feature is that the balance within the teen’s account will earn interest. This is a great way to encourage building savings within their account since they are at the perfect age to start learning methods of putting their money to work for them.
Ultimately, these straightforward tools offer teens the chance to learn essential money management skills.
Pros
- Earn interest
- Available for ages 8 to 17
Cons
- Relatively low interest rate
3. Chase First Banking
Chase First Banking offers a free debit card to kids ages six to 17. However, one of their parents must hold a qualifying Chase checking account.
Parents can transfer funds into their child’s account with one-time or recurring transfer options. You’ll have the option to set limits on how much your child can spend and where.
If your child needs more money, they can send a request for you to approve. Plus, parents can take advantage of account alerts to monitor their child’s spending.
Within the Chase app, teens can set up savings goals and complete chores to earn money. This helps them learn the value of earning money and working towards their financial goals.
Learn more: Chase First Banking Review
Pros
- Fee-free Chase ATMs
- Set spending limits easily
- Establish savings goals
Cons
- Connects to one parent account
- No direct deposits
4. Copper Teen Banking
Copper is specifically designed for teens between the ages of 13 to 18.
Teens can accept funds into their accounts through an automated allowance or their direct deposit from work. The account also ties to Google Pay, Apple Pay, Venmo and CashApp for seamless money movement.
As a parent, you can monitor your child’s debit card transactions in real time and set up chores for completion.
Copper even offers extensive in-app financial literacy information to help your child learn more about money. Plus, your teen can earn $3 for each friend who opens an account using their referral link.
Keep in mind that there is a $10 minimum opening requirement for this account.
Learn more: Copper Banking Review
Pros
- Financial literacy tools
- Referral program
Cons
- App-online
- No phone customer service
5. Current
Current offers free banking to teens 13 years of age and older. As a parent, you can transfer funds directly into your child’s account and set limits on their spending.
Within the app, you can:
- Block merchants
- Set custom spending limits
- Receive alerts when your teen makes debit card purchases
Current also allows parents to assign chores and automate allowance payments. Plus, multiple family members have the ability to add funds to the card.
If your teen is driving, the worry-free instant gas hold removals will help when it comes to budgeting for gas.
This account also offers savings features. The debit card provides automatic round-up saving options and savings pods to work towards financial goals.
Learn more: Current Review
Pros
- 40,000+ fee-free ATMs
- Instant gas hold removals
- Round up savings
Cons
- Lacks physical branches
- No joint accounts
6. Jassby
Jassby is a virtual debit card for kids that has a strong focus on financial literacy.
Within the app, you can set up real earning opportunities for your children. For example, you can assign household chores with predetermined financial incentives attached. As your child completes tasks, they’ll earn money.
Plus, they can propose their own opportunities. This allows the connection between work and financial rewards to be established at a young age.
Children can set up savings goals on their own. Additionally, they’ll have the ability to spend and give their funds.
The digital debit card can connect with Apple Pay, Google Pay and Samsung Pay for easy spending.
When kids make smart money decisions, they can earn Jassby rewards. These can be redeemed for real cash, providing more incentives to make good financial choices.
Additionally, there is an extensive learning component within the app that can help kids build a solid foundation of financial literacy.
Pros
- Rewards program
- Monitor spending
Cons
- No physical card
- Doesn’t allow cash deposits
7. Mazoola
Mazoola offers a mobile wallet for kids that comes with a virtual debit card.
Within the Mazoola app, parents have a variety of controls.
Parents can:
- Create chores
- Authorize retailers
- Set spending limits
- Suggest a budget
- Monitor their child’s spending in real-time
On the child’s side of the app, kids have the power to make purchases without the need for a physical debit card.
Kids can:
- Set savings goals
- Build a budget
- Earn allowance through chore completion
Mazoola takes your child’s privacy seriously. The app is Children’s Online Privacy Protection Act (COPPA) compliant, which means your child’s information is extremely secure.
With the help of Mazoola, kids can learn how to build a budget that works for their goals at an early age.
The exceptional privacy considerations are a major perk for many parents. However, the lack of a physical card can make teaching money lessons a bit more complicated.
Pros
- COPPA compliant
- Budgeting tools
Cons
- No physical card
- Doesn’t have ATM access
8. Nationwide First Checking
Nationwide Bank’s First Checking account is available for kids ages 13 to 17. It’s a joint account with one parent or legal guardian.
With this bank account, kids can earn interest on their funds. This provides them with a great incentive to build savings.
However, there is a minimum account balance of $50 to get started.
If you are worried about kids overspending with this debit card, there are built-in limits to prevent that. Specifically, it comes with a daily transaction limit of $500 for debit purchases and $100 for cash withdrawals.
The account comes with plenty of mobile banking tools, including:
- Online bill pay
- Free mobile deposits
- A switch kit
Unfortunately, there aren’t any built-in financial literacy resources. As a result, you’ll need to provide your child with other resources as they learn about personal finance and responsible money management.
Luckily, that doesn’t have to be a dealbreaker since there are countless financial literacy resources out there. Plus, you can offer your own money insights to your children.
Pros
- Earns interest
- No overdraft fees
Cons
- $50 minimum deposit
- No financial literacy resources
9. Till
Till is a free financial literacy app that comes with a debit card. The platform has the stated goal of building smarter spenders.
Kids of any age can use the app and get a debit card, but the ‘Family Owner’ must be at least 18 years old.
Within the app, Till teaches kids how to manage their funds in real-life situations. It provides spending insights to help kids learn what money moves make the most sense for their financial goals.
Kids can set savings goals and learn to make tradeoffs between spending and savings. They can build up their savings by completing chores or accepting direct deposits from a part-time job.
With these built-in training wheels, kids can learn to make more confident money decisions as adults.
The biggest downside is that Till is only available for iOS users. This means that kids will need a compatible phone or tablet to manage their Till account.
Pros
- Savings goals
- Spending insights
Cons
- No cash deposit option
- Only available on iOS
10. Step
Step is an online banking option for kids ages six to 18. Parents must sponsor their children’s accounts.
What sets Step apart from other options is the ability to build credit. Each month Step reports your payment activity to the credit bureaus. This feature allows your child to start building credit at a very young age.
Length of credit history is a factor in determining your credit score. This means that the earlier your child starts building credit, the more positively it can impact their overall credit health.
The fact that this debit card allows kids to build credit is a huge benefit since a good credit score is essential later on in life.
Fortunately, there’s no way to overdraw the account. This means that teens won’t be able to get themselves into debt while building credit.
Teens can accept funds into their account in a few ways, including:
- Transfers from parents
- Direct deposits
- Cash deposits at around 70,000 retail stores
The flexible options, ample controls and credit-building capabilities make this a great option for teens.
Learn more: Step Card Review
Pros
- Build credit history
- Set savings goals
- Cash deposits allowed
Cons
- Doesn’t have rewards
- No interest
FAQs
If you aren’t sure whether or not a debit card for kids is right for your child, these frequently asked questions might be able to help.
Yes. A debit card is generally considered safer than cash because you can cancel a lost card. More specifically, debit cards for kids often include parental controls that make them safer.
Plus, the child can only spend the funds available in the account. Without access to a high spending limit associated with a credit card, there’s no danger of your child racking up debt.
The right free debit card for your child varies based on your goals. A few things to look for include parental control limits, built-in safeguards for children and unique features.
Additionally, check out the age limits before signing your child up.
A debit card allows your child to start building good financial habits at a young age. The reality of using a debit card has real consequences on their bank balance.
Although you could teach your child similar lessons with cash, our modern world often relies on online banking skills. Instead of waiting to learn about online money management as an adult, access to a debit card allows your child to learn the basics early.
Summary
A free debit card for kids is a great option to teach your child money management skills. Using a debit card responsibly is an important lesson for kids to learn.
As a parent, these cards give you the chance to help your child make wise purchasing decisions by ensuring they don’t overspend. Ultimately, they provide a safe way to teach your child basic financial skills that will help them succeed later on in life.
