If you are searching for the finest kids’ debit cards, this post is for you. In this article, you will find exactly the card you want, whether you want one for your kids or you are a kid yourself. And, if you are wondering sure, children too can use prepaid cards and debit cards. We are not talking about gift cards, but the real, cash-loaded prepaid debit card for kids.
A debit or prepaid card is a plastic card that kids can use as a cash alternative for payments. The cards ideally help teens and kids cultivate excellent financial skills from a tender age, as we will explain.
When it comes to teaching kids the basics of managing money, it is never too early to begin. One way of teaching financial literacy is through hands-on experience via a debit card. The best prepaid debit card for kids can be a valuable tool for monitoring and managing funds, whether they understand ways to earn income as kids or not.
With a sound debit card, such as choosing a child bank account with a debit card option, kids can transfer money to others, make deposits while still checking account balances. Therefore, these cards let kids and teens spend money on shopping, while visiting relatives, or on domestic and international school trips.
You will encounter various types of children’s cards in the market, with some issuers providing a free debit card for kids. The cards come with different features as vendors, credit unions, banks, and other financial institutions advertise. Whether you are a parent trying to help their child manage and master using prepaid cards, or a kid that qualifies for one, this post will be valuable to you.
We highlight some of the greatest prepaid cards for kids. We hope you will know what card options are there, why kids need them, as well as the ten best ones, including why to select each of the ten.
Prepaid Kids Debit Card: What Are Your Options?
Although using actual cash to help kids get comfortable with money is a good thing, you will want to move to a more digital world as they get older. In this way, you will prepare them better for the real world.
For instance, prepaid cards provide an opportunity to make the young ones understand the safety of online debit card, including the risky places to swipe the cards. Also, the cards can teach them to protect card numbers, bank details, and PINs, along with never posting images of a debit card on social platforms.
So, what are your options concerning debit cards and prepaid debit cards? Usually, parents have two ways to provide kids access to a debit card;
1. Open A Kids Checking Account
First, you can help them open a kid’s bank account with a debit card. Your child can qualify for a debit card through the checking account you help them open at a kids’-friendly financial institution.
Depending on state regulations and an institution’s terms, some credit unions, traditional banks, and online banks offer savings and checking accounts for kids and teens. There are different account ownership options, including:
- A parent or legal guardian jointly owning the account with the child
- A child exclusively holding the account
- A parent acting as the account custodian
For teens between the age of thirteen and seventeen, teen checking accounts usually issue debit cards, whose holders can make purchases. Kids and teens can use these types of debit cards to shop from a store, and the bank deducts funds from their checking account balance.
The cards allow for unlimited transactions at stores. However, unlimited transactions do not mean unlimited withdrawals from the checking account. Parents need to make their kids understand the daily ATM withdrawal limits before they attempt to withdraw funds.
Please note that this option may not apply if you want a debit card for 12 year old kids. Most banking institutions limit children 12 and below to savings accounts, which often come with an ATM card. If so, you’ll want to consider the second method for providing your child access to a prepaid card.
2. Get Your Child A Prepaid Debit Card
Prepaid cards are mostly identical to traditional debit cards, which means that kids or teens can use the cards for purchases. However, unlike regular debit cards, prepaid debit cards have no link to a bank account. Instead, the parent adds money to the card, which the child can then spend.
A kid cannot complete new transactions on the card once the account balance reaches zero. You will have to transfer more funds to the card for the child to continue transacting.
We would recommend that parents get prepaid debit cards for kids, particularly for children at younger ages or when still learning vital concepts in financial literacy.
The 10 Best Prepaid Debit Cards For Kids To Consider
The current options for children’s debit card are an excellent alternative to traditional bank accounts, especially knowing that children can’t open a bank account without a cosigner. Many of these cards carry the features of a checking account, including;
- Making direct deposits,
- Making mobile check deposits
- Option for online bill pay
However, unlike a checking account, these cards come without the risk of overdraft charges. Our list includes prepaid debit cards with incredible features and benefits, some even giving its holders the option to add sub-accounts with individual prepaid cards.
1. American Express Serve
The American Express Serve belongs to the three Serve cards that Amex issues. It is most popular with teens who want to make different types of payments. Parents and kids who have come of age will want to consider this option because:
- You can use it to pay bills online without charges
- Get up to two days’ free early direct deposit of cash
- You can use the card to withdraw some money for free from MoneyPass ATM
- You will incur between $0 to $1 cost with each statement period if you direct deposit at least $500
2. FamZoo Prepaid MasterCard
FamZoo Prepaid MasterCard is valuable when you want to help children master excellent financial skills. The card allows parents to deposit or withdraw funds from the kid’s account as a reward or punishment.
FamZoo may not offer debit cards for kids under 13 since they require parents to open accounts for children who are at least thirteen years of age. Also, it requires that the parent remains one of the legal cardholders in the account.
The legal custodian has access to the cardholder’s activities at any time, including digital tracking. FamZoo Prepaid MasterCard has the following features on top of teaching kids vital money management skills;
- Free cash withdrawals at ATM
- Free card reloads. However, they will charge for direct deposits
- No charges for each purchase
- You can get from $0.63 every month, based on your subscription type and number of cards
3. American Express Serve Free Reloads Card
The American Express Serve Free Reloads card is another version under AMEX prepaid cards. The teen-friendly card packs multiple benefits, including;
- No credit check
- Zero hidden charges
- Free cash reloads using one of the 45,000+ locations
- Free online bill pay
- Zero minimum account balance
4. The Pockit Prepaid Card
Pockit is one of the best issuers of prepaid cards for kids, teens, and children, allowing easier payments to the cardholder. The Pockit Prepaid Card is ideal for older kids who can make independent financial decisions because it lacks features for parental control.
The best parts about using their card include:
- No need to sign a contract
- No requirements for monthly fees
- Each Pockit account comes with three extra cards
5. The Visa Buxx Prepaid Card
You can find an excellent debit card for kids with Visa Buxx. The Visa Buxx prepaid card provides various customizable options, including uploading photos. Kids and teens can use this reloadable card for purchases online, in-store, and other places that accept Visa debit cards. Parents can set limitations on what kids can purchase with the card.
It provides different ways to load funds such as over the phone, online, and automatic transfers. Furthermore, both kids and parents can track and monitor account activity like balances, reloads, and spending on the card on the internet. Visa Buxx prepaid card allows kids and teens below 18 years, with perks such as;
- Parents monitoring and controlling their kids’ spending with peace of mind
- Children enjoying the freedom to make purchases without using their parents’ cards
- Parents teaching their children vital lessons in financial management using the card
6. The TD Go Reloadable Prepaid Visa Card
America’s Most Convenient bank, the Toronto Dominion Bank, popularly known as the TD Bank, offers the TD Go Reloadable Prepaid Visa Card. The card provides parents the chance to track and control their kids’ spending online. The card packs various advantages, among them;
- It is an easy card to purchase online
- For reloading, parents have multiple options, including through the TD Bank credit or debit card online or via the phone at any time
- Parents and teens can use direct deposit to load funds
- You can authorize other people such as friends and family to add funds into the kid’s account with their TD Bank credit or debit card
7. The Movo Virtual Prepaid Visa Card
The Movo Virtual Prepaid Visa Card is among the top prepaid cards for kids in the market. It is suitable for kids and teens, with various compelling features such as;
- Zero monthly maintenance charges
- Add cash through direct deposit and bank account transfers among other options
- Quick, direct deposits
- Withdraw money from Venmo and PayPal
- Insured by FDIC
- A multipurpose prepaid card with over 6,000 ATMs across the country
- Register and activate without charges
- Minimal $2 out-of-network ATM charges
8. The Akimbo Prepaid Debit Card
If you are looking for a prepaid card to help your kids gain financial discipline, the Akimbo prepaid debit card might be the right choice. The card offers numerous benefits, including;
- Suitable for parents with more than one kid
- Set up the card to manage various accounts under one master account
- Easy for kids to use when making payments
- Minimal operation charges
- Zero charges on signature purchases
- Easy to load funds with cash, through direct deposit, or via a paper check
9. The Greenlight Debit Card
The greenlight debit card for kids has flexible parental controls that parents can use to manage their kids’ spending from the phone. Some of the main benefits include;
- Instant shut down by parents or kids when the card is stolen
- Parents get real-time card activity notifications
- Allows automatic allowance payments
- Parents can send funds instantly to the card from anywhere
- Savings option for kids through the parent-paid APY
10. The BB&T LEAP Account Card
Parents searching for a prepaid debit card for their kids with excellent parental controls should consider the BB&T LEAP Account Card. The card carries numerous perks for both the parent and the kid. The Branch Banking and Trust Company often issues the reloadable Visa card to those who have a LEAP account. The prepaid card packs various perks such as;
- Zero overdraft charges due to the overdraft-proof feature
- Reasonable $3 monthly fee for parental control
- One paper statement for free per month
- Utilize the prepaid card for secure purchases over Samsung, Apple, and Android mobile devices
- Free online statements
- $0 direct deposit
- Funds transfer to and from other BB&T accounts
- Purchase security for all qualifying products
- Free cash withdrawals and inquiries at BB&T ATMs
Things To Look For In A Prepaid Debit Card For Kids
The financial market is brimming with prepaid card options, with some seeming more appealing than others, depending on your individual preferences. However, here are a few factors to look out for and stack up on your search for the most suitable prepaid cards;
- Flexible spending and pay bill options
- Free direct deposit
- Wide acceptance at purchase points
- Free cash withdrawal
- Convenient methods to load funds
- Zero to minimal monthly charges
- Availability of retail networks and online connections
- Ability to transfer funds to family and friends on the internet or over the phone
- Fraud protection
Frequently Asked Questions (FAQ)
1. What is the youngest age you can get a prepaid debit card?
Giving kids a prepaid card is often a personal decision. A lot may come down to the judgment of the parent concerning the kid’s maturity level. However, we would recommend twelve years as the perfect time to begin practicing with a prepaid debit card for kids.
2. Can I get a prepaid debit card for my child?
Yes. Giving children access to a debit card is becoming the norm in many homes. The card can help your kid to learn and get practical with managing finances from an early age.
3. How much money does a kid need to get a prepaid debit card?
There is no definite amount concerning how much it costs to purchase a prepaid card for a kid. Ultimately, it boils down to individual issuers since each has different charges. While some card issuers will charge you up to $5 per card, others offer free debit cards based on other terms and conditions.
4. How to teach kids how to safely use prepaid debit card?
Getting a prepaid card with parental controls is the best way to teach kids how to use the card safely. In this way, you can monitor all their activities, including their spending habits and where they are making payments, and guide them accordingly.
5. Which bank is best for children’s account?
Deciding the best bank for a child’s account may depend on individual goals concerning what you want to achieve with opening the account. Different banks have different children’s accounts with varying features. Therefore, you will want to review each provider separately to determine the one that best suits your interests.
The Bottom Line
Even though the financial market unveils new prepaid cards every year, some have stood the test of time, and the above are ten of the best prepaid debit card for kids. Each card is unique, with plenty of features. If you are thinking of allowing your child to manage funds with a prepaid card, then any of the above cards can be useful.
We advise you to consider how each card we have listed can work with the financial habits you want your kid to learn. You can research further and look into the fees of each option to see how they compare.