It is challenging to be a parent bringing your children good skills and giving them a balanced life. Among these challenges, one of the major problems parents face nowadays is how to teach their children to spend their money appropriately.
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The 10 Best Debit Cards For Kids And Teens And More Details
So yes, money management should be taught to a child. Small steps like savings in their Piggy banks or investing that money in a fruitful place are necessary.
Nowadays, there are debit cards available for children and teenagers. It will help them learn how to manage their money and also teach them the skills of Banking.
Here is a list of the best debit cards that are available for children as well as teenagers.
1. Greenlight Debit Cards
Greenlight debit card aims to teach children how to save, invest and spend money. Guardians, you don’t have to worry green light debit card will send you a regular notification when your child is using the debit card. Apart from this, you have parental controls too.
Owing a Greenlight debit card does not require any age limit.
2. FamZoo Prepaid Card
So if your kid travels abroad, a FamZoo Prepaid Card is the best choice. You can learn how to access FamZoo’s services within one month of the free trial. There are no additional charges for currency conversions, balance inquiries, or International ATM withdrawals.
3. Copper Banking Debit Card
The benefit of using the Copper Banking Debit card is that it comes with online quizzes, which will teach your child to learn money management skills. Copper aims to assist parents, children, and the family how in growing together financially. Another reason for using copper is you don’t have to maintain any minimum balance for your kid’s account. Secondly, no extra charges for banking services are required.
4. Jassby Virtual Debit Card
Jassby’s Family Finances app help manage multiple accounts at the same time. With zero monthly fees and a user-friendly app, Jassby is appreciated by its Users. Jassby offers you contactless payments in return for rewards. Kids from 8 years up to 17 years can use Jassby’s Debit card.
5. GoHenry Debit Card
With GoHenry’s, parents or Guardians can set rules for the children to spend the money. Another plus point offered by GoHenry is that parents can load the debit card. The exciting thing Henry serves is that parents can set tasks and assignments for the kids, and rewards can be given on completion.
Parents will be notified when their kids use the GoHenry debit card. They can also set limits on where this card can be used.
6. Step Debit Card
Step banking offers both the services of credit as well as debit. So now, which step kids can purchase things but cannot exceed their limit, they can maintain their credit history too. Doesn’t charge any extra amount for their cards, and there is no minimum balance required to access the account. If you are a kid using the ATM in your network, there are no additional overdraft charges for ATM are need to be paid.
7. Chase First Banking
While other banking services and debit card services have parental controls for guardians and parents. But with Chase, kids need to send a request to their parents to spend their money. Isn’t this cool? Additionally, there are no monthly fees for Chase’s first banking. Chase is powered by green light; hence you can avail services and features of green light.
8. BusyKid Visa Prepaid Spend Card
Something beyond good money habits is a busy kid visa prepaid spend card. Children can earn real money by completing tasks and chores. Every kid desires to get money and give from relatives. So with Busy kids, QR codes: friends, family, and relatives from far away can send and share money with children. There are some monthly and yearly charges for the cards, which are mentioned on their websites.
9. Alliant Credit Union Teen Checking
Alliant’s free checking account is specially designed for children from 13 to 17 years of age. This intelligent banking system limits spending money on purchases and ATM withdrawals.
Parents can also set alerts to track their children’s transactions easily. There are no monthly fees and minimum account balance. With Alliant credit services, children can earn a high-interest rate on their money and savings.
10. Goalsetter Cashola
Goalsetter Cashola prepaid debit Master Card teaches your kid money management skills. Some other debit card services offer quizzes, so with Goalsetter Cashola. On finishing financial examinations, children are given rewards and prize money of $1 for each correct answer. Plus, Cashola’s services allow parents to lock their kids’ cards if they haven’t completed the weekly quiz. Children can set their financial goals for their purposes like traveling, vacations, etc.
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