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Which prepaid debit card is best for your child? Compare the pros, cons, and cost of the top prepaid cards for kids.
This list of best prepaid debit cards for minors includes many nonbank cards, so you have plenty of options if you’d rather go with a prepaid card over a debit card that’s tied to a checking account.
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Finding the best prepaid debit cards for teens and parents can help your children expand their financial know-how while learning valuable lessons in responsibility. A good prepaid debit card can help your teen learn how to budget, meet his or her savings goals, spend wisely, and lessen the danger of carrying around cash.
Kid-friendly debit cards have lots of built-in advantages, including full adult ownership (usually) and tight controls on transactions. They also tend to have robust educational features and tools to reinforce the money lessons kids naturally learn by using them.
Several companies have launched reloadable prepaid debit cards with apps designed for families with teens. These cards give parents an easy way to give an allowance, set chores, and even pay interest on savings. They also give parents control over how, when, and where the card is used.
Prepaid cards are a safe and easy alternative to dolling out your kid’s allowance in cash – some options will even let you drip feed the allowance into their account depending on how many of their chores they complete. Here’s our pick of the 10 best prepaid debit cards for kids. 10. Current Prepaid Card