The best debit cards for teens often come with features that allow parents to monitor and control their child’s spending while also providing a learning experience in financial responsibility. Here are five debit cards that are suitable for teens as of my last knowledge update in September 2021:
- Greenlight: Greenlight is a popular choice for parents with teens. It offers a debit card for kids and teens, allowing parents to set spending limits, designate specific stores where the card can be used, and even pay allowance digitally. It also includes educational features to teach financial literacy.
- FamZoo: FamZoo is a family-friendly financial app that provides prepaid debit cards for kids and teens. It allows parents to create virtual family banks, set up allowances, and track spending. It’s a great tool for teaching budgeting and financial responsibility.
- Capital One MONEY: Capital One offers a MONEY teen checking account that comes with a debit card. Parents can monitor transactions and set spending limits through the app. The account also offers a competitive interest rate and no monthly fees.
- Chase First Banking: Chase offers a First Banking account, which includes a debit card for teens. It allows parents to set spending limits and monitor their child’s spending. It’s a good option if you already bank with Chase.
- Bluebird by American Express: Bluebird is a prepaid debit card that offers features suitable for teens. Parents can set spending limits and track transactions. There are no monthly fees, and it’s widely accepted wherever American Express is taken.
