10 Best Banking Apps for Kids & Teens in 2024

Personal finance skills are a priceless lesson you can teach your child, and the more natural you make it as they grow up, the easier it is for them to make important financial decisions when they’re on their own. Teen banking apps make it easy for kids to learn about money by handling it in real life.

There are many options for banking apps for kids and teens today, but they aren’t all created equal. So I’ve rounded up the top 10 banking apps to help parents learn which is best for their children.

How Do Banking Apps for Teens Work?

Teen banking apps allow kids to operate independently but with the safety net of parental supervision. Kids can make decisions, but most transactions have the option for parental approval.

Those not requiring parental approval may have boundaries or parameters that parents can set up and provide real-time updates on any transactions.

Until kids are 18 years old, most banking apps must be held as joint or custodial accounts. This means parents have access to and control of the accounts to help their children make sound financial decisions.

Best Banking Apps for Kids and Teens

Below are the top 10 banking apps for teens. Most are good for kids starting at age 6, but note that some apps on this list are specifically for teens starting at age 13.

  1. Greenlight
  2. Chase First Banking
  3. Copper
  4. GoHenry
  5. FamZoo
  6. BusyKid
  7. Current
  8. Stash
  9. Revolut <18
  10. Axos First Checking

1. Greenlight

  • Price– $4.99 – $14.98 per month
  • App Store Rating: Apple – 4.8/5, Google – 4.1/5

Greenlight is a prepaid debit card where parents control most features, including the funding and where and how much they spend. Kids can add their own funds if they work or receive gifts, or parents can control the funds on the card.


  • Parental controls allow parents to limit where kids spend their money or how much they spend
  • Parents get real-time alerts on all transactions
  • Parents can add chores and tie them to payouts, so kids learn to work for money
  • Kids can learn how to invest with the Greenlight Max or Infinity Plan
  • Includes up to 5 debit cards on one account
  • Includes helpful tools so kids learn to save, spend, and give
  • Pays 1% to 5% APY on savings balances


  • Offers the most intuitive parental controls down to where kids can spend money (you can restrict specific stores)
  • Can earn cash back on purchases with the Max or Infinity plan
  • Pays high APYs on savings balances


  • High monthly fees
  • Doesn’t work with Apple Pay or Google Pay
  • There’s no option to add cash to the card, only electronic transfers

2. Chase First Banking

  • Price – Free with a parent account
  • App Store Rating: Apple Store – 4.8/5, Google Play – 4.4/5

Chase First Banking is a bank account for kids whose parents have a Chase checking account. The account is for kids ages 6 to 17 and includes all the same features you’d find in a regular checking account, helping kids learn to manage their money.


  • The account includes a debit card for kids
  • Parents can manage the account in the same dashboard as their personal accounts
  • Sends real-time alerts, so you know where your child spends money
  • Kids can request money, and parents can send it instantly (or decline it)


  • Parents can set limits on where and how much kids can spend
  • Has an ATM network of more than 15,000
  • Parents can set limits on how much kids can take out of the ATM


  • No investing option for kids
  • Teens aren’t eligible unless their parents have a qualifying Chase account
  • Not many educational components to it

Chase First Banking (ages 6-17) Logo

Chase First Banking (ages 6-17)

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3. Copper

  • Price – Free
  • App Store Rating: Apple – 4.9/5, Google Play – 4.7/5

Copper is a bank account for teens ages 13 to 17. It’s meant to help teens learn to manage money themselves with parental guidance before entering adulthood. Teens can use the Copper debit card at most stores and link it to Apple or Google Pay.

Copper includes an easy-to-read dashboard that teens and parents can see, educating them on the teen’s financial status in real-time.


  • Parents can send money instantly or automate payments, such as an allowance
  • Teens can create savings goals and see their progress on the dashboard
  • The debit card includes zero liability protection
  • Includes helpful tips from financial experts


  • Teens have access to 55,000 fee-free ATMs
  • Teens that work can get early access to their funds up to two days early
  • Doesn’t require a minimum balance
  • No monthly fees


  • The app doesn’t include an investment option
  • Parents don’t have control over where or how teens spend; they can only see what they’ve already done
  • The app doesn’t include any type of chore tracking

4. GoHenry

  • Price – Starts at $4.99 a month and includes a free 30-day trial
  • App Store Rating: Apple Store – 4.6/5, Google Play – 3.6/5

GoHenry is a banking app and debit card for kids ages 6 to 18. It includes one parental account you can link with your kids’ accounts. Each child receives their own debit card, and parents control how much money is on it.

GoHenry is similar to a prepaid debit card, so kids can’t spend more than is on the card. This helps them learn to budget and avoid overspending leading overdraft fees.


  • Parents can tie chores to a child’s payout, setting up automatic or one-time payments
  • Includes built-in money missions to help kids learn about personal finances
  • Parents can set boundaries and goals to help kids learn to manage their finances
  • Parents can block the card if it’s stolen or they don’t want kids using it for a specific time period


  • Parents get real-time notifications when a child uses their debit card
  • Kids can customize their debit cards
  • Parents and kids can create savings goals and monitor the progress


  • The app doesn’t offer an investment option
  • Kids don’t earn interest on their balances
  • The family plan only includes up to four children

5. Fam Zoo

  • Price – $5.99/month with discounts if you prepay for 6 to 24 months
  • App Store Rating: Apple – 4.6/5, Google Play – 4.7/5

FamZoo is a prepaid debit card for kids that parents control. Parents are the ‘banker’ in the situation, funding kids’ cards.

For example, you can set up automatic payments for weekly allowance or payments for things like parent-paid interest, rewards for good grades, or any other reason you find to pay your children.

Parents and kids have separate accounts, but parents have 100% control over the kids’ accounts.


  • Parents have the option to set up ‘IOUs,’ tracking them in the app and paying kids separately or transferring funds to a FamZoo prepaid card
  • Parents can automate allowance payments and make one-off payments
  • Parents can deduct earnings if kids don’t complete their chores
  • The account includes the option to reload electronically or with cash


  • The prepaid debit card works anywhere Mastercard is accepted
  • Kids can’t spend more than is loaded on their prepaid card
  • Parents can stick to IOU accounts and not give kids prepaid cards if they aren’t ready


  • There’s no option for parents to restrict where kids spend their money on their prepaid card
  • The account includes only up to four kids
  • The subscription fee is somewhat high

6. BusyKid

  • Price – Free with a parent account
  • App Store Rating: Apple Store – 4.7/5, Google Play – 4.4/5

BusyKid is another banking app that helps kids learn how to manage their finances and make important decisions. It started as an allowance app but has quickly become much more.

Each account includes prepaid debit cards for kids, and parents control how their kids’ money is saved between the save, spend, and give categories. In addition, parents get real-time alerts when kids request money, are due for allowance, or any investment transactions occur.


  • Anyone can add money to your child’s BusyKid account, including friends and family
  • The app is linked with over 60 charities for kids who want to donate a part of their earnings
  • Parents can set up automatic allowance payments
  • Allows a parent-match option for savings
  • Includes unlimited investing options in ETFs and stocks


  • Parents can set up how kids divvy their funds and can turn on Money Lock so kids can’t move money from one bucket to another
  • The app has a large selection of charities to help kids learn the value of giving
  • Kids can learn how to invest with parental support


  • The debit card isn’t a chip card, and it doesn’t have ATM capabilities
  • There isn’t any educational material in the app
  • There aren’t controls to limit where kids spend money

7. Current

  • Price – Free with a parent account
  • App Store Rating: Apple Store – 4.7/5, Google Play – 4.4/5

Current is a banking app for teens. It’s meant to help teens learn how to manage their finances using real money and provide parental support. Kids receive their own free debit card, and parents can send instant transfers to it for immediate use.

Parents can tie the earnings to chores, block specific merchants for spending, and allow other family members to add funds to their child’s card.

Like most banking apps for kids and teens, parents must link their bank account to the app to fund their teen’s card, but parents are in control of where and how the money is spent.


  • Parents get real-time notifications regarding all transactions
  • Teens can set up savings pods for specific goals
  • Teens can opt-in to automatic round-ups for easy savings
  • Offers access to over 40,000 Allpoint ATMs


  • No monthly fee
  • Parents have control over where the money is spent
  • Parents get real-time updates on all transactions


  • There’s no option for teen investing
  • Money sometimes takes a while to show up in your teen’s account
  • Customer service is lacking

8. Stash

  • Price – Free with a parent account
  • App Store Rating: Apple Store – 4.7/5, Google Play – 4.4/5

Parents can open a custodial account for kids under 18 on Stash, and when they turn 18, the account becomes theirs. In addition, parents can invest in stocks and ETFs on behalf of their children and help set them up financially.


  • Anyone can open a custodial account, including family friends, grandparents, and other relatives
  • Parents can set up automatic investments


  • Earnings are taxed at the child’s tax rate, saving parents money
  • Kids can learn alongside parents, learning how to invest at a young age
  • Parents can buy fractional shares of stocks
  • Even a few dollars at a time can help kids have a healthy portfolio


  • The banking app doesn’t have a debit card or bank account linked
  • Kids can’t touch the account until they are 18
  • Investing can be risky

9. Revolut <18

  • Price – Free with a parent account
  • App Store Rating: Apple Store – 4.7/5, Google Play – 4.4/5

Revolut <18 is a banking app for kids ages 6 to 17. Revolut was built to give kids some independence while allowing parental guidance and controls to help kids make good decisions.

Each account comes with a contactless card that kids can link to Apple or Google Play or use anywhere debit cards are accepted. With a paid plan, you can have up to five kids on one account and easily loop in a co-parent, so everyone is on the same page.


  • Parents get spending alerts in real-time
  • Parents can set spending limits and have in-app controls to keep kids from spending in the wrong places
  • Kids can create their own card
  • Kids can set up savings goals and monitor their progress in real-time


  • There is a free option
  • Parents can freeze the card as needed
  • Parents can set spending limits


  • There isn’t an investment option
  • Parents must have a parent Revolut account before opening a kids’ account
  • Instant transfers may only be between account holders

10. Axos First Checking

  • Price – Free
  • App Store Rating: Apple Store – 4.7/5, Google Play – 4.6/5

Axos First Checking account, as the name suggests, is a starter checking account for teens. It’s a joint account, so parents are on the account with teens until they are 18. Each account includes a debit card and parental controls.

The account is for teens ages 13 to 17 and gives teens all the features adults have in their checking accounts


  • Teens can send peer-to-peer payments
  • Parents and teens can set up push alerts for real-time updates on transactions and activity
  • Parents and teens can manage their debit cards from the online dashboard


  • Teens earn interest on their balances
  • Gives teens real-life experience using a checking account
  • Reimburses up to $12 a month in ATM fees


  • The account doesn’t include many educational resources
  • Parents must be joint account holders
  • There isn’t an investment option

Benefits of Having a Debit Card App for Your Kids

There are many benefits of having a banking app for kids, including:

  • Teach kids about personal finances – It’s easier to teach children about money when they can be hands-on with it. Kids and teens can make decisions about their money, set savings goals, and learn the importance of spending, saving, and giving. It’s easier to teach kids when they can handle the money themselves and build real-world connections with their money rather than just having discussions.
  • Kids can save for their goals – There’s nothing more rewarding than reaching a financial goal. Kids banking apps can help kids set specific goals and watch the progress on their dashboards. It’s more rewarding than instant gratification, aka receiving what they want without working for it.
  • Parents have control – Parents can still be in control with kids banking apps because they can set spending limits, restrict spending at certain stores, or have the ability to approve/decline specific transactions.
  • Kids can learn how to invest – Many banking apps include an investing component. This means kids and teens can buy and sell stocks or ETFs with parental supervision. This can be a great way to teach kids about investing, making it a natural part of their life financial education and growth.

Frequently Asked Questions

What type of banking app is best for my child?

Think about how your child learns, their decision-making capabilities, and what sort of control you want. Each banking app has different features and benefits, and no two parents or kids will need the same thing. Find the best app for your child’s abilities and help them learn how to save, spend, and give.

When should kids get their first debit card?

You will be the best judge of when your child is ready for their first debit card. Most banking apps don’t offer a debit card until the age of 13, but there are a few exceptions. Think about your child’s understanding of money, including saving and spending. If you give a debit card to a child under 13, consider one that provides you with complete parental controls, including dollar and store limits.

What security measures can a parent take with kids’ banking apps?

Parents should ensure that all precautions are taken with a kids’ banking app. This includes setting up two-factor authentication, changing the password often, and ensuring no one else gets access to the password.

Is BusyKid better than Greenlight?

Greenlight is better for teens, and BusyKid works best for younger children. That’s because Greenlight has more investing options and is more customizable for teens. BusyKid has more preset chores and features for kids ages five and under. BusyKid only offers preset chores, whereas Greenlight can be customized according to your child’s age and your family’s needs.

Greenlight offers features like parent-paid interest, automatic round-ups for savings, and more robust investing options.

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