The 5 best debit cards for kids and teens

Teaching kids about money management is important. Debit cards can help them learn financial independence while staying safe. Several banks offer debit cards designed for children and teens. These cards come with parental controls and safeguards. Here are some of the best options available.

Greenlight Debit Card for Kids allows parents to send money instantly, set spending controls, receive real-time notifications, and turn the card on or off through a mobile app. Parents can also block certain spending categories, approve payments from friends, and automate chore allowances. Funds are FDIC-insured and earn cash back on purchases. There is a monthly fee of $5.99 to $19.98.

Chase First Banking is another option for kids aged 6-17. It allows children to make purchases, track balances, set savings goals, and withdraw money from ATMs. Parents can set spending limits, assign chores, and monitor activity. This account is available to Chase checking customers and has no monthly fee or minimum deposit.

Capital One's MONEY Teen Checking account is suitable for children as young as six. Parents can add money, monitor spending, lock the card, and track financial goals. Teens can set personal goals, manage their finances in the app, and track progress. The account earns 0.10% APY and has no fees until the child turns 18.

Axos Bank's First Checking account offers a teen debit card with no monthly fees. It's available to customers aged 13-17 (18 in Alabama) and includes parental controls for monitoring spending, locking the card, and setting alerts. There are no overdraft fees, and domestic ATM fee reimbursement up to $12 per month.

Acorns Early, formerly GoHenry, is a financial app and debit card for kids aged 6-18. It teaches money management through an app and allows children to receive money for birthdays and holidays. Parents can set spending limits, receive account alerts, and transfer money for chores. There is a monthly subscription fee of $8 or $12.