Free Debit Cards for Kids

If you’re wondering whether or not it’s time to expose your kids to banking, here’s the bottom line — the earlier you do it, the better. Financial literacy is the key to kids developing healthy spending habits, budgeting, and understanding the true value of money.

Piggy banks – one of the best ways to teach kids money management – are now obsolete, thanks to cashless transactions. However, you can still pass on the same valuable money management lessons, such as spending wisely and saving money through debit cards.

Kid-friendly debit cards can make for great tools in giving kids an in-depth insight into what managing their own money is like, with the added security of parental controls to prevent irreparable mishaps.

Can You Get a Debit Card for a Minor?

Minors across the United States are not eligible to hold bank accounts in their name. They must reach the minimum age of 18 before opening an account.

Until then, parents or legal guardians can set up a joint teen checking account or load funds into a digital wallet to support their kids’ spending.

Current

Minimum deposit: $0
Card replacement fee: $5
Daily transaction limits: $2,000 debit
Cash deposit fee: $3.50
Features: Spending alerts, access to 40,000 in-network free ATMs, instant transfers, spending restrictions, block merchants, and automated transfers

Current is a banking app powered by Metropolitan Commercial Bank and Choice Financial Group, which allows it to be FDIC insured for up to $250,000.

Current’s teen Visa debit cards function like regular prepaid debit cards without the costs or interest rates that usually come with them.

Parents can receive notifications whenever the card is used, set spending limits, and block certain merchants. The app also has built-in money management features such as roundups and savings pods to promote financial responsibility.

Learn more in our Current Review at on Current’s website.

Axos Bank’s First Checking Account

Minimum deposit: $50
Card replacement fee: Free
Daily transaction limits: $500 debit, $100 for cash withdrawals
Cash deposit fee: Up to $4.95 through selected retailers
Features: Biometric authentication features, ATM withdrawals, real-time spending snapshots, peer-to-peer transactions, automatic transactions

The Axos First Checking Account is a joint checking account shared between parents and their children. It comes with a 0.10% APY and an optional debit card. The teen checking account is available for minors between 13 and 17.

Once minors turn 18, the account will convert to a regular Axos Checking Account. The Axos mobile app and desktop portal allow guardians to set parental controls on teen checking accounts to ensure minors don’t develop the habit of overspending.

Learn more in our Axos Review at on the Axos website.

Copper Banking

Minimum deposit: $0
Card replacement fee: Free
Daily transaction limits: $4,000 debit, $1,000 for cash withdrawals
Cash deposit fee: Cash deposits are not available
Features: Financial advice, ATM withdrawals, real-time spending snapshots, send/receive money instantly, automatic transactions for allowances.

Copper Banking is an online bank offering a mobile app and MasterCard debit card with zero liability protection designed with financial literacy. The app primarily targets teens, but kids as young as six can use it as long as they have a smartphone.

Even though this bank is entirely online, deposits are FDIC-insured up to $250,000 through a partnership with Evolve Bank & Trust and come with no minimum balance. The Copper banking app and website offer financial advice and tips to help kids develop healthy spending and saving habits.

Kids can make purchases with Google or Apple Pay, make in-store payments, and send and receive money through the app.

Learn more on the Copper website.

Chase First Banking

Minimum deposit: $0
Card replacement fee: Free
Daily transaction limit: $100 for cash withdrawals
Cash deposit fee: Cash deposits are not available
Features: Spending alerts, access to 16,000 free network ATMs, cash withdrawal limits, restrictions on where and how much your child can spend, recurring transfers, request funds feature

Chase First Banking accounts and debit cards are exclusively offered to Chase checking account holders and are available for kids between 6 and 17 years of age.

Parents may have up to 5 free accounts linked to a single checking account, which allows them to monitor each child’s spending individually.

First banking accounts and profiles are managed by parents, while children have access to a mobile banking app and debit cards to make purchases, request money, and track their spending.

ATM fees apply should the debit card be used to withdraw at an out-of-network ATM.

Parents can set up blocked retailers, chores, and recurring transfers daily, weekly, or monthly, while kids can request funds that can be approved or declined.

They can also set up cash withdrawal restrictions and spending alerts through the mobile app, and parents can decide where and how much money the child can spend.

Learn more in our Chase First Banking Review at on Chase’s website.

Mazoola

Minimum deposit: $20
Card replacement fee: $0
Daily transaction limit: $3,000 debit
Cash deposit fee: Cash deposits are not available
Features: Spending alerts, COPPA compliant, spending limits on selected merchants, savings goal setting feature, peer-to-peer transactions, and automated transfers

Mazoola is a mobile wallet that offers virtual MasterCard debit cards issued through Evolve Bank and Trust, a Member FDIC.

Parents first need to open a parent account through the Mazoola app, link it to a savings or checking account to load money into the digital wallet, and then create a child account.

Parents can also set up spending restrictions and parameters through the app. Kids can then make contactless payments and online purchases and use Apple or Google pay within the set parameters. Mazoola is one of the few COPPA (Children’s Online Privacy Protection Act) compliant mobile banking apps.

Till

Minimum deposit: $0
Card replacement fee: $5
Daily transaction limit: $2,500 debit, $250 for cash withdrawals
Cash deposit fee: Cash deposits are not available
Features: Spending alerts, savings goal-setting features, automated transactions, and financial advice

Till is a mobile app and virtual and physical Visa debit card provider, offering banking services through Coastal Community Bank.

All Till accounts are FDIC insured up to $250,000. This app takes a learn-through-doing approach to give a solid base to your child’s financial education and allows kids to set up their own savings targets. Guardians can make individual transfers, set up automated transfers for allowances, contribute to the child’s financial goals, and monitor all spending.

Capital One Money

Minimum deposit: $0
Card replacement fee: Free
Daily transaction limits: $500 debit, $500 ATM withdrawal
Cash deposit fee: $0
Features: Network of 70,000 free Capital One ATMs, APY of 0.10%, transaction monitoring, automated allowances

Capital One Money Teen Checking account is a starter account for kids above 8.

The app allows guardians to set automated allowances, transaction monitoring, and savings with an APY of 0.10%.

The mobile app gets a great rating on Google Play and App Store and is full of valuable tips on how your kid can manage their money.

Jassby

Minimum deposit: $0
Card replacement fee: $4.99
Daily transaction limits: Parents can set limits
Cash deposit fee: Cash deposits are not available
Features: Spending limits, ATM withdrawals, real-time notifications, automatic transactions, chores feature

Jassby is a mobile wallet with access to both physical and virtual debit cards.

The account has no minimum balance requirements, and virtual debit cards are free. However, physical cards come at the cost of $4.99.

Jassby’s mobile app allows parents to set spending limits, add family members, and block cards. Kids can earn money for completing preset chores, donate a portion of their allowance to selected charities and play financial literacy games using the app.

A monthly usage fee of $2.99 will apply if an account remains inactive for six months.

Step

Minimum deposit: $0
Card replacement fee: $0
Daily transaction limits: $1,000 debit, $500 Google and Apple pay, $250 ATM withdrawals
Cash deposit fee: The first two deposits are free, while a charge of $3.95 applies after that
Features: ATM withdrawals, send/request money feature, set savings goals, automatic transactions, start building a credit history.

Step is a banking app with built-in parental controls designed for teens. Parents or guardians can reload debit cards with funds as they wish.

Step accounts are FDIC insured for up to $250,000 through Evolve Bank and Trust. Kids have access to a Step Visa debit card which benefits from Visa’s fraud protection and zero liability guarantees.

Guardians can check Step account balances, track spending, add money on the fly, and block cards through the mobile app. Kids can start building a positive credit history for themselves by using their debit card as Step reports user activity to Experian, Equifax, and Transunion.

Alliant Credit Union Teen Checking

Minimum deposit: $0
Card replacement fee: $10
Daily transaction limits: $300 debit, $100 ATM withdrawals
Cash deposit fee: Cash deposits are not available
Features: Spending notifications, access to 80,000 network ATMs, reimbursement of up to $20 on out-of-network ATM fees

Alliant Credit Union’s Teen checking account is a starter checking account for teens between 13 and 17 years old. It comes with a free debit card.

Parents who agree to set up a recurring monthly direct deposit into the account will unlock an interest rate of 0.25% APY.

Prepaid debit cards for kids

Some of the best debit cards for teens are prepaid cards and weren’t listed since they wouldn’t qualify as “free”. However, there are some worthwhile options to consider, including:

Greenlight
GoHenry
BusyKid
FamZoo

Greenlight

Monthly fee: $4.99 for up to 5 children
Minimum deposit: $20
Card replacement fee: $3.95 for regular debit cards, $9.99 for personalized kids debit cards
Daily transaction limits: $1,500 debit
Cash deposit fee: Cash deposits are not available
Features: Savings goals, spending limits, restricted merchants, cash back on purchases, ATM withdrawals, send/request money in real-time, and investment features.

Greenlight is a banking app that gives parents and guardians complete control over their kids’ spending. Kids get access to a prepaid Greenlight MasterCard debit card provided through Community Federal Savings Bank, a member FDIC.

Funds are reloaded by their parents or guardians. Kids using Greenlight Max debit cards can earn 1% cash back on eligible online and in-store purchases.

Parents can set up where Greenlight debit cards can be used, set spending limits, receive instant notifications, approve or decline requests for funds and monitor savings through the app.

You don’t earn any interest with these accounts. However, parents can choose to pay their kids “interest” on the amounts they save.

Should kids have a job that earns money, they can choose to receive their paychecks directly into the account through direct deposit.

Greenlight also comes with an Investment Account option, allowing guardians to securely start their kid’s journey to investing in stocks and index funds.

GoHenry

Monthly fee: $3.99 per child
Minimum deposit: $5
Card replacement fee: $0
Daily transaction limits: 20 transactions per day and a $120 withdrawal limit
Cash deposit fee: Cash deposits are not available
Features: 24/7 customer service, automatic transfers, set savings goals, spending limits, restricted merchants, and ATM withdrawals.

GoHenry is a banking app targeted at minors with built-in parental controls to ensure that kids learn valuable financial lessons. Parents first need to create a parent account with GoHenry linked to their checking or savings account.

Once completed, they can create sub-accounts for their children to use.

The parent can top up accounts through the app itself, and kids’ debit card spending is limited to the amount available on their debit card, which safeguards against overdraft fees.

GoHenry offers 24/7 customer service so parents have peace of mind that their money is safe and they can easily get help should something not add up on their kids’ spending records.

BusyKid

Monthly fee: $3.99 per child
Minimum deposit: $0
Card replacement fee: $7.99
Daily transaction limits: 20 transactions per day and an $810 withdrawal limit
Cash deposit fee: Cash deposits are not available
Features: Chores feature, automatic transfers, set it and forget it savings, spending, balance notifications, ATM withdrawals.

BusyKid is a personal finance management app that allows kids access to a prepaid BusyKid Visa debit spend card to use online and in-store.

Parents can set up chores for their kids through the apps and approve payments once they’ve completed those chores.

Plenty of financial advice is built into this app to help kids develop healthy savings habits and think twice before pulling out their BusyKid spend card.

The app’s interface is simple and easy to use; however, one notable feature is that available funds are split into sections; spend, save and share to help with budgeting.

The BusyKid app also allows kids to donate a portion of their available money to selected charitable organizations.

FamZoo

Monthly fee: $5.99 per month (the first month is free)
Minimum deposit: $0
Card replacement fee: First two replacements are free, $3.99 after that
Daily transaction limits: $2,500 debit and on $510 ATM withdrawals
Cash deposit fee: $4.95
Features: Automatic debit card top-up, spending notifications, chore charts, block card feature, ATM withdrawals

FamZoo is another digital wallet built for financial education, offering a prepaid debit card for kids.

Parents and guardians can view all transactions made, monitor progress towards savings goals, instantly reload prepaid cards with funds, and temporarily lock cards.

Parents can also automate chores to save precious time, and the FamZoo app offers “first dibs chore charts” to bring in an element of competition between kids.

FamZoo comes with an extensive financial education library to help parents teach their kids the ins and outs of the world of money.

Custodial Accounts

Custodial accounts allow guardians to save money or invest in stocks on behalf of the children in their lives. Kids can access funds in custodial accounts once they reach the age of maturity, usually 18.

Parents who would rather maintain control of their child’s finances might have more peace of mind with this kind of account.

M1 Finance

M1 Finance is one of the most all-inclusive finance management apps available today. They offer custodial accounts, which include custodial IRAs.s

Fee: $125 per year
Minimum deposit: $100
Cash deposit fee: Cash deposits are not available

Acorns

The Acorns Family plan offers custodial accounts. Parents can use the “round-ups” feature, which rounds transactions up to the nearest dollar and invests the difference.

Fee: $5 per month
Minimum deposit: $5
Cash deposit fee: Cash deposits are not available

Stash

Stash+ offers guardians custodian accounts to purchase EFTs and stocks on behalf of their kids. The app provides financial and investing advice to ensure you make the wisest choices.

Fee: $9 per month
Minimum deposit: $5
Cash deposit fee: $4.95

Frequently Asked Questions

Is there a debit card for kids with no fees?

Many financial intuitions offer debit cards, accounts, and digital wallets for kids and teens with no fees. Start by looking into what financial products are available at your current bank and other financial institutions that offer their services in your area. Online banks might be the correct route if you don’t find any free options.

What is the cheapest debit card for kids?

Fees for kids’ debit cards vary depending on your chosen financial institution. When considering the cost of a financial product, be sure to watch out for additional fees like transaction or ATM fees.

What debit card can I get for my child?

Most debit cards readily available to kids are prepaid debit cards. You can link the card to a digital wallet or a joint account shared between guardian and child.

The debit card you can get for your child depends on what kind of account you choose. When choosing an account for your child, the focus should be on building healthy money habits and ensuring the banking platform offers the positive encouragement necessary for them to start saving.

Is Greenlight debit card free?

Debit cards offered by Greenlight are free. However, a Greenlight family account costs $4.99 per month for up to 5 children. Replacement debit cards cost $3.95 for standard-issued debit cards and $9.99 for personalized kids’ debit cards.