Bank accounts aren't usually described as "scary," but tell a parent that their kid has a debit card granting them unfettered access to the family funds and watch their face fill with terror.
Fortunately, many debit cards exist with features that strike a balance between financial freedom and parental oversight. That way, you can feel confident that your child is developing good spending habits while you maintain some control over their spending.
To determine the best debit cards for kids, we evaluated parental controls, security features, educational tools and age appropriateness. (See our methodology for more information on how we chose the best debit cards for kids.)
Best for financial education
Who's this for? The Greenlight debit card is a good choice to help your child learn more about money management through features like expense tracking, savings goals and interactive tools.
Standout benefits: This debit card offers 1% cash back on every purchase, and financial literacy tools like the Greenlight Level Up™ game, where kids can earn "coins" that can be redeemed for rewards ranging from digital badges to discounts from partner businesses.
Greenlight Debit Card
Cost
$5.99 per month for Core Plan, $9.98 per month for Max Plan, or $14.98 per month for Infinity Plan
Rewards
1% cash back
Minimum deposit/balance
None
Overdraft fee
None
ATM access
Any ATM with a Mastercard, Visa Interlink or Maestro name or logo
Parental controls
Parents can block spending categories and more
Terms apply.
Pros
- Earns cash back
- Ideal for all young ages
- No minimum deposit/balance requirements
- No overdraft fee
Cons
- Monthly fee applies
- No ATM fee refund
Best for parental controls
Who's this for? The Capital One MONEY Teen Checking stands out for its robust parental control features, allowing parents of children over eight to monitor transactions, set alerts and lock or unlock the card.
Standout benefits: This account earns a modest amount of interest on your balance and doesn't require a minimum. It also doesn't charge any monthly, foreign transaction or transfer fees.
Capital One MONEY Teen Checking
Annual Percentage Yield (APY)
0.10% APY
Minimum deposit/balance
None
Monthly maintenance fee
None
Overdraft fee
None
Offers debit card?
Yes
ATM access
70,000+ fee-free ATMs nationwide; no ATM fee reimbursement
Parental controls
Parents can lock or unlock their kid's debit card, but can't set spending limits or block certain transactions
Terms apply.
Pros
- Ideal for all young ages (ages 8+ eligible)
- Parent or guardian on teen checking account doesn't need a Capital One account; can link external bank accounts outside of Capital One
- 0.10% APY
- No minimum deposit/balance requirements
- No monthly service fee
- No overdraft fee
- No foreign transaction fee
- Large fee-free ATM network
- Parents can set up alerts, lock/unlock kid’s debit card, schedule automatic allowance, reward kids for savings goals
- Capital One has physical branches (but not nearly as much as other big banks)
Cons
- No ATM fee refund
- Daily limits apply on debit card purchases and withdrawals (including ATM withdrawals)
Best for earning interest
Who's this for? The First Checking from Axos Bank caters to parents seeking a simple, no-frills debit card for their kids aged 13 to 17, while also earning interest.
Standout benefits: Along with earning interest, this card comes with no monthly maintenance fees and no overdraft charges.
First Checking from Axos Bank
Annual Percentage Yield (APY)
0.10% APY
Minimum deposit/balance
None
Monthly maintenance fee
None
Overdraft fee
None
Offers debit card?
Yes
ATM access
91,000 fee-free ATMs nationwide; up to $12 domestic ATM fee reimbursement per month
Parental controls
Parents can lock or unlock their kid's debit card, but can't set spending limits or block certain transactions
Terms apply.
Pros
- Ideal for teenagers ages 13 to 17
- 0.10% APY
- No minimum deposit/balance requirements
- No monthly service fee
- No overdraft fee
- One of the largest fee-free ATM networks
- Up to $12 per month ATM fee refund — the most generous we found
- Parents can set up alerts, lock/unlock kid's debit card
Cons
- Daily limits apply on cash withdrawals and debit card transactions
- Online-only bank
Best for budding investors
Who's this for? Acorns Early functions as its own stand-alone deposit account, but parents interested in teaching their children about the market (and who are paying $12 a month for an Acorns Gold account) can take advantage of its seamless integration with an investment account designed for kids.
Standout benefits: This debit card allows parents to set spending limits, track purchases and assign allowance payments for chores. It also integrates seamlessly with the Acorns app and allows parents to transfer funds or set up recurring contributions to an investment account.
Acorns Early Debit Card
Cost
$5 per month for one kid or $10 per month for 2-4 kids
Minimum deposit/balance
None
Overdraft fee
None
ATM access
55,000+ fee-free ATMs within the AllPoint Network
Parental controls
Parents can lock or unlock their kid's savings goals, block transactions at stores that sell age-restricted items, or receive real-time spending notifications or notifications on declined purchases.
Terms apply.
Pros
- Ideal for all young ages (ages 6+ eligible)
- No minimum deposit/balance requirements
- No overdraft fee
- No foreign transaction fee
- Large fee-free ATM network
- Parents can set up alerts, block transactions at specific merchants, adjust spending limits and lock/unlock savings goals in app
Cons
- Monthly fee applies
- No ATM fee refund
Best from a big bank
Who's this for? If you're looking to open an account with a big, established bank and you have a child between the ages of six and 12 then Chase First Banking might be right up your alley.
Standout benefits: The account is a low-cost option with no monthly fees, and it gives parents the flexibility to teach their kids budgeting through features like spending limits and money request approvals. But the real star here is access to Chase's extensive network of ATMs and physical branches. If you think your kid would benefit from a more hands-on approach to money management that includes visits to a brick-and-mortar bank, this could be a great account to try.
Chase First Banking℠
Monthly maintenance fee
$0. You must be an existing Chase checking customer to open the account for your kids ages 6 to 17.
Minimum deposit to open
$0
Minimum balance
$0
Annual Percentage Yield (APY)
N/A
Free ATM network
16,000 Chase ATMs
ATM fee reimbursement
None
Overdraft fee
$0
Mobile check deposit
Yes
Terms apply.
Pros
- Top-rated mobile app
- No minimum deposit to open an account
- No monthly service fee
- No fees at 16,000 Chase ATMs
- No. 2 on J.D. Power's 2019 U.S. National Banking Satisfaction Study
Cons
- No APY
- $100 ATM limit at Chase and non-Chase ATMs
- Parents must already be Chase customers to open an account
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Sign-up bonus of $50 or $400
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Debit cards for kids FAQs
What's the best debit card for a child?
All of the debit cards on our list are strong options depending on your family's needs, but Greenlight is a great starting point for parents who want built-in parental controls and financial education tools in one place.
Is there a free child's debit card?
Yes, there are free child debit cards. Several cards on our list charge no monthly fees, and Chase First Banking is a solid fee-free option that's backed by a major bank and available to kids ages 6 to 17.
Can kids under 13 have debit cards?
Yes, most of the debit cards on our list are available to kids under 13, as long as a parent or guardian opens or co-signs the account.
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Our methodology
To determine which debit cards for kids were the best, CNBC Select analyzed some of the most popular debit cards for kids on the market. We compared each card's parental controls, security features, educational tools, age suitability, rewards rates, whether a minimum balance was required, ATM fees, the size of the ATM network, monthly fees and other perks. If customer reviews were available, we referred to those as well.
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