Prepaid debit cards aren’t a new concept to most of us. But have you heard about prepaid debit cards for teens? What makes these cards so unique? Among all conversations concerning education reform, teenagers’ financial literacy continues to receive little attention. If financial education for our children isn’t happening in schools, then it has to happen in our homes. For that reason, a prepaid debit card for a teens can be given to a minor, mostly from 13 years old, to use for ATM withdrawals and spending, which isn’t available with most other cards.
While issuers market some prepaid debit cards specifically for families, teens, or college students, they all serve the same purpose as other prepaid cards. If so, why should you bother with the teenager cards? For starters, some prepaid card providers add extra features, which parents find enticing.
The primary distinctive feature gives parents the ability to track and monitor how teens are using the card, suitable for prepaid debit cards for 16-year-olds, but unnecessary for those in college. Nevertheless, parental control is a common feature of these teen cards.
It would serve parents better to add adult children as authorized users to their high-earning rewards card. Another feature is the flexibility to obtain several cards on the same account, allowing parents to transfer cash to the child’s card. It means the teens prepaid debit cards is a sub-account of the primary card account belonging to the parent.
However, the feature is available with the majority of prepaid offers and not just those meant for young adults. If so, the cost will be a critical determining factor. Therefore, we have explored and put together the greatest, low-cost prepaid debit cards for minors and their parents below.
The 10 Best Prepaid Debit Cards for Teens
The best teen debit cards come with flexibility in reloading funds, charge minimal fees, and give parents access to the card, particularly for children in the earlier years of the teenage spectrum. Older teens who are running a part-time job and responsibilities like their own cell phone bill may also benefit from perks such as direct deposit and bill pay.
The best debit cards for teens often have these services without charges. Features such as online account balance checking or via a mobile application are another plus. After reviewing debit cards from multiple banks, we have whittled down all the available prepaid card options to the following ten.
1. FamZoo
Teens and parents can both have access to the prepaid debit card from FamZoo.
What We Like
- Transfer funds between accounts regularly if necessary
- Tie the card to chores and jobs, especially for parents looking to start building responsibility
- Parents can lock and unlock the FamZoo prepaid debit card, which is vital in protecting against unauthorized purchases and fraud, as well as controlling access to the card
- Suitable for those who need a card with no reload fees, although other providers may ask for payments to reload
- No charges for direct deposits
- Parents can opt to directly deposit part of their pay to the card as the source of funds by cashing in on the free, instant transfers between cards
What We Do Not Like
- Parents must keep a paid FamZoo subscription, usually $5.99 monthly for the whole family to use
Card Fees
- Purchase Fee: Free for the first four cards then $2 for each card after that
- Monthly Charges: $5.99
- Reload Charges: As much as $6 based on the reload option
- ATM Charges: $0 within their network. Variable out-of-network fees
2. Mango Prepaid MasterCard
Nurturing proper savings habits in your teen is just as vital as teaching them to learn good spending habits.
What We Like
- You can open a Mango Prepaid MasterCard and allow your teen the chance to open a savings account offering an annual percentage yield of up to 6%
- The savings account has the option for six transfers out every month
- No sign-up, activation, or loading funds charges through bank transfer
- Minimal fees, including a $5 monthly cost and $3 for ATM withdrawals
- Teens get to use the card at any outlet accepting MasterCard
- Option for teens to manage their account via a smartphone application
What We Do Not Like
- A standard $1,500 in purchases with a $25 minimum balance by the end of the first month to qualify for the six percent APY
Card Fees
- Purchase Fee: $9.95 to get a custom card
- Monthly Charges: $5
- Reload Charges: $0
- ATM Charges: $3
3. American Express Serve Free Reloads
American Express offers three different options under its Serve prepaid card. The Free Reloads version is a reloadable debit card with no charges for reloads.
What We Like
- Allows free early direct deposits
- Free funds management tools
- 24/7 customer support
- Free cash withdrawals at 24,000+ MoneyPass outlets
- Over 45,000 reload locations, including Walmart, Family Dollar, CVS Pharmacy, 7-Eleven, Rite Aid, and Dollar General among others
- Free online bill pay
- Free card replacement
- Allows teens to reload the card from a bank account
- Free to order the card online
- Free fraud protection service
What We Do Not Like
- Unnegotiable $6.95 monthly charges, making it ideal for frequent cash reloads
Card Fees
- Purchase Fee: $0 online, $3.95 at retail centers
- Monthly Charges: $6.95
- Reload Charges: $0 at specific locations
- ATM Charges: $0 at MoneyPass ATMs with up to $2.50 at other locations
4. American Express Serve Cash Back
The American Express Serve Cash Back is suitable for teens who regularly spend hundreds of dollars per month.
What We Like
- 1% cash back for purchases
- The provider instantly adds cash rewards to the card, which teens can redeem at any time
- Free card replacement
- Early direct deposit with no charges
- Free ATM withdrawals within their network
- Free online bill pay
- Teens get 90-day purchase protection on up to $1,000 purchases
- Free fraud protection
What We Do Not Like
- Irreducible $7.95 monthly fee, making the account suitable for big spenders
Card Fees
- Purchase Fee: $0 online with $3.95 at retail centers
- Monthly Charges: $7.95
- Reload Charges: $3.95 to make cash reloads
- ATM Charges: $0 at MoneyPass ATMs with up to $2.50 at other locations
5. Akimbo Prepaid MasterCard
Families with multiple teens will find the Akimbo prepaid debit card ideal for managing all their teen accounts.
What We Like
- The issuer allows you to open multiple separate prepaid debit cards with one parent or master account.
- Teens can use the Akimbo app to manage individual prepaid cards
- If you are looking for free prepaid debit cards, Akimbo provides the first subaccount card free
- Subsequent subaccount cards come with a $4.95 one-time fee each
- The app allows users to enable and disable each card from within the platform
- Parents get a notification text after each activity
- Akimbo prepaid debit card has minimal charges. Unlike other cards, there is no enrollment fee, no monthly expenses, and no charges for signature purchases. Also, the card has a $0.99 PIN transaction fee, a $1.98 ATM cash withdrawal fee, as well as a $0.33 ATM balance inquiry fee.
What We Do Not Like
- Akimbo applies a $5.95 surcharge for accounts that are inactive for 12+ months. The fee is valid for the thirteenth month.
Card Fees
- Purchase Fee: $4.95
- Monthly Charges: $0
- Reload Charges: From $4 to $5 to make cash reloads
- ATM Charges: $1.98
6. Movo Virtual Prepaid Visa Card
Movo is one of the few card issuers with free prepaid debit cards.
What We Like
- The Movo Virtual Prepaid Visa prioritizes online shopping safety by letting users create another disposable account number, which they can use for online transactions. The move protects the primary account number from exposure to hacking or data breaches.
- No monthly or activation charges
- Free for purchases
- Free ATM cash withdrawals at its 6,000 in-network ATMs. However, there is a $1 fee for declined ATM transactions, especially if you attempt to withdraw more than the available balance
- No surcharge for inactive cards
- Plenty of reload options, including bank transfer, Venmo balance, cash at select retailers, direct deposit, PayPal, and debit card transfer. Reloads can take up to three business days to reflect, depending on the chosen method.
What We Do Not Like
- Movo applies $4.94 for cards that are dormant for ninety days
- Load a maximum of $5,000 per day
Card Fees
- Purchase Fee: $0
- Monthly Charges: $0
- Reload Charges: 2.9% plus $0.30 for every transaction that adds funds from another card, with $0 for other methods.
- ATM Charges: $0 for in-network ATMs, with up to $2 for non-network ATMs.
7. BB&T Debit Card
The BB&T Leap Account Card is another option from a traditional bank that provides Prepaid Debit Cards for under 18. The card is ideal for older teens living in one of the sixteen states where BB&T operates. However, teens cannot open the account on their own. One applicant of between 18 and 21 years is an essential requirement.
What We Like
- Allows users to open an account online
- Most services on the prepaid card are absolutely free
- 24/7 roadside dispatch
- Free transactions
- Free direct deposits
- Travel and emergency help
- Free bill payments
- Free online banking
- No overdraft charges since the card overdraft-proof
- Free mobile banking
- Free in-network ATM withdrawals
- Teens can use the card at any location that accepts Visa cards
- Purchase security for qualifying items
- Minimal $3 monthly fee
What We Do Not Like
- $10 card replacement fee or a $15 replacement fee for express delivery
- Cards are available only in states with a BB&T branch
Card Fees
- Purchase Fee: $0
- Monthly Charges: $3 for those who load $1,000 per month or $5 otherwise
- Reload Charges: $0 for select Visa ReadyLink merchant outlets
- ATM Charges: $0 for in-network ATMs, with $3 for out-of-network ATMs
8. Current Visa Debit Card
Current is among the leading providers of prepaid cards and teen spending.
What We Like
- Excellent customer service
- Appealing user interface
- Simple fee structure involving a $36 annual fee to keep the card for each teen
- No monthly fee
- No statement charges
- A 3% exchange fee for international purchases
- No activation fee
- A $2 charge for a paper statement
- Parents can monitor and block transactions from any merchant
- Current allows any family member to link their bank account and transfer funds into the Current Visa Debit Card without charges
- Free mobile check deposits for teens
What We Do Not Like
- The $5 card replacement fee
Card Fees
- Purchase Fee: $36 annually to own the card
- Monthly Charges: $0
- Reload Charges: $0
- ATM Charges: $0
9. TD Go Reloadable Prepaid Visa Card
The TD Go Visa is an ideal choice, especially for those who need debit cards for teens tied to a traditional bank.
What We Like
- Chip technology fraud protection makes it a safe, secure and convenient way for teenagers to transact
- Teens can transact at any location that accepts Visa
- Parents can monitor their kids’ spending online, with an option to set up text and email notifications concerning the card balance and other account activities
- Provides real-time tracking of a teenager’s spending
- Allows the user to add the card to Apple for additional payment methods
- Convenient to load cash and check card balance over the phone or on the internet
- Available for purchase online
- Minimal charges, including a $1 fee to load with debit or credit card, a $2.50 fee for cards that are inactive for more than 12 months, and $3 for non-TD ATM withdrawals
- Free in-network ATM withdrawals
What We Do Not Like
- Minimum $20 initial deposit with a $1,000 maximum
- The $5 paper statement fee
Card Fees
- Purchase Fee: $$4.95
- Monthly Charges: $5.99
- Reload Charges: $0 for direct deposit and $1 to load via credit or debit card
- ATM Charges: $0 for in-network withdrawals and $3 for non-TD ATMs
10. The goHenry Prepaid Card
The goHenry Prepaid MasterCard is among the fewer issuers that give cards to kids under the age of 13.
What We Like
- Allows kids from as young as six as well as young adults of up to 18 years to use the card
- Parents get to set age-appropriate spending limits for individual card users
- The goHenry card has a mobile application, which parents can use to set chores and automatic allowance
- The online portal gives teens instant access to their account balance
- Zero fees for the master account
- No activation fees
- Zero transaction fees
- The card comes with a 30-day free trial period
What We Do Not Like
- Lack of a free ATM network increases ATM cash withdrawal fees
- The $2,500 daily spending limit
Card Fees
- Purchase Fee: $0
- Monthly Charges: $3.99 per card
- Reload Charges: $0 to add funds with a bank debit card
- ATM Charges: $1.50 per withdrawal on top of ATM owner charges
Read Also
- Home Depot Credit Card Pre Approval Application Process
- The Five Best Credit Card For Damaged Credit To Improve Credit Score
Frequently Asked Questions (FAQ)
Which banks provide the teens’ current debit card?
You can get the current debit card for teens from both traditional and online or mobile banking apps. For instance, Current, a debit card and app empowering teens to make wise financial decisions.
Can I get a Visa prepaid debit card under 18?
Yes. You can get a Visa prepaid debit card under 18 with a parent co-signing to create a savings or checking account at a bank.
What is the right age to get a debit card?
Most issuers allow teens from 13 years of age the right to a sub-account debit card. However, some issuers like goHenry Visa have cards for kids as young as six years old.
Where to get a debit card for teens?
You can get a debit card for teens from your traditional bank or an online bank that issues those kinds of cards. Please note that not all banks will offer debit cards for teens.
When should a teen get a credit vs. debit card?
The decision as to when a teen should get a debit vs. credit card is upon the parent’s discretion. In both cases, a parent maintains control over the master account.
The Bottom Line
Today’s debit cards for teens provide a viable financial management tool to families. The cards are safer than cash. In addition, they also avoid the risks of a checking account. With the right prepaid debit card for teens, parents can prevent funding teens’ spending from debt. The cards could be a great alternative to cash if you want to teach your teenager how to spend wisely.
