For mom and dads who want to teach their kids about banking they have a variety of tools to use.
They can use banking apps for kids and teens.
You can also learn how to transfer money here!
How Mobile Apps and Debit Cards for Kids Work
These banking apps for kids are very similar to regular banking apps. Both the parents and kids can access account information online, but children can also log in to their own sub-accounts, generally with limited features.
Many of these accounts come with debit cards and parents can fund the account.
The mobile apps also lets parents monitor, and even limit, purchases, by setting a spending max of $20 at restaurants.
Capital One MONEY
Many of these kids banking apps don’t pay returns, but Capital One MONEY lets children ages 8 and up set up an interest-earning checking account. This app comes with a Mastercard debit card and lets kids set aside money for savings goals.
Requirements: Parents can fund this account by linking it to either an existing Capital One adult account or an external bank account. There are no monthly service fees.
Chase First Banking
The Chase First Banking debit card account is available for children ages 6 and older. They have a variety of features such as:
- Parents can set limits on their children’s’ spending
- Kids can also set savings goals and track progress
- The Visa debit card provides free access to 16,000 Chase ATMs
Requirements: There are no monthly service fees, but the parent must be an existing Chase customer.
Greenlight
Kids using these accounts can set savings goals and parents can enable an optional round-up feature. Purchases are rounded up to the nearest dollar, and the extra change is automatically sent to a savings pocket.
If your child has a job they can also set up direct deposit into their Greenlight card.
Greenlight provides a compound interest calculator so check out how this works as well.
Requirements: Greenlight plans range from about $5 to $10 a month. There are no minimum age requirement.
Be sure to checkout an online savings account.
FamZoo
This app can come with a prepaid debit card that lets parents monitor account activity and track balances. You can also create a virtual “IOU” account. The parent or child manually enters transactions for funds held elsewhere.
Requirements: A subscription with FamZoo is $5.99 a month, however you can get a discount if you prepay. The price is the same whether the family chooses prepaid debit cards, IOU accounts or a mix of the two. Children under age 13 can receive a prepaid card in their parent’s name.
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Author’s Verdict
Debit cards for kids help parents teach their children about money, and may even help streamline chores and allowances.
Finally, remember to bookmark this page because you will always find an updated list of Banking Apps for Kids and Teens promotions here.
| PROMOTIONAL LINK | OFFER | REVIEW |
| Chase Private Client | $3,000 Cash | Review |
| U.S. Bank Business Checking | $900 Cash | Review |
| Chase Business Complete Checking® | $300 or $500 Cash | Review |
| KeyBank Key Smart Checking® | $300 Cash | Review |
| Truist One Checking | $400 Cash | Review |
| Chase Total Checking® | $300 Cash | Review |
| Chase College CheckingSM | $100 Cash | Review |
| J.P. Morgan Self-Directed Investing | Up to $700 Cash | Review |
| Chase Secure BankingSM | $100 Cash | Review |
| SoFi Checking and Savings Account | $325 Cash | Review |
| Huntington Bank Unlimited Plus Business Checking | $1,000 Cash | Review |
| Huntington Bank Unlimited Business Checking | $400 Cash | Review |
| Huntington Bank Business Checking 100 | $100 Cash | Review |
| Fifth Third Bank Checking | $400 Cash | Review |
| Axos Basic Business Checking | $400 Cash | Review |
| Axos Business Interest Checking | $400 Cash | Review |
| Axos Bank Business Premium Savings | $375 Cash | Review |
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