Debit Cards for Kids? Yes. For Kids.

"Debit cards … for kids?"

Kyle here, and that was one of the first questions I had when I talked to Riley about coming on board years ago. He had already spent years learning about the space and had reviewed dozens of these products. I had been pigeon-holed away in the investment world; I didn't even know they existed.

My initial reaction? Recoil. For whatever reason, that seemed a bit much for children, even teens.

And then I started remembering how I interacted with money when I was a kid.

I was spoiled rotten, to be clear. I didn't receive a formal allowance that I could remember, but I would ask my parents for arcade money all the time. Fortunately for me, my dad was a pinball nut, so he understood, so I was always momentarily flush with cash.

Money in, money immediately out. I had no concept of money past "it makes me competitive at Ironman Offroad Racing" and "if I ask enough, I'll get it."

I didn't really learn to appreciate the value of money until I got my first¹ job in high school. Fortunately, that lesson took, but it opened up additional to-dos for my parents.

I was a busboy at a better-than-you'd-expect mall restaurant. Unlike waiters, who received a fraction of the minimum wage and largely subsisted on cash tips, bussers' income was predominantly the full minimum wage (with a little extra cash from waiters' tip-outs). So, I had checks to deposit. My parents and I opened up an account at our local bank, and Mom or Dad would drive me there every couple of weeks so I could fill out deposit slips, wait in line, and stow away my paychecks. When I "needed" cash (nothing I bought was a "need," let's be honest), one of my parents would drive me up to the ATM.

Pain. In. The. Tuchus.

And once I was done with my little trip down memory lane, kids' debit cards—which are oh-so-much more than just debit cards—started to make a lot more sense.

Now, let me hand it over to Riley.

Debit Cards for Kids

I started Young and the Invested (with encouragement from my wife) as a means to lay out our financial independence journey and connect with and help others who share the same goals. And I quickly realized that ensuring a financially secure future for our children doesn't just mean earning enough money to take care of their needs—it means educating them to ensure they have a healthy understanding of finances and make good decisions on their own.

Young and the Invested Tip: Whether it’s in the school curriculum or it’s up to you to teach, here are the financial concepts your kids should be learning.

And kids' debit cards are one of the most useful tools in the financial-education toolbelt.

That's because, as Kyle said, debit cards aren't just debit cards—nowadays, they're merely a small part of much larger digital financial ecosystems (usually centered around apps) that help kids learn how to spend, save, and even invest. And while children enjoy some newfound financial freedom, these cards and apps provide parents with robust guardrails to ensure their children are acting responsibly and learning the right lessons.

At least, the best ones do.

Some kids' debit cards are bare-bones pieces of plastic that are only a little more convenient than paper checks. Others are connected to apps—but they're spartan, low-feature products that don't engage kids and don't provide parents with enough protective features.

But there are some stellar cards out there that really were designed thoughtfully, with everyone's experience in mind. And those cards are effective tools that can really help kids get ahead.

3 Top Debit Cards for Kids

With all of that said, let me introduce you to three of my top-rated debit cards for kids.

1. Greenlight

• Available: Sign up here
• Price: Core: $5.99/mo. Max: $10.98/mo. Infinity: $15.98/mo. Family Shield: $19.98/mo. (All plans include cards for up to 5 children)

The Greenlight debit card allows kids to begin spending, but provides parents with peace of mind by giving them control over where their kids can spend money. Parents also can choose to receive alerts that tell them when, and how much, money is spent on the Greenlight debit card.

Greenlight works like a prepaid debit card, allowing you to transfer money onto the card for your child to pay for expenses at approved locations. You can choose how much money to load onto the card, and your child will be cleared to make approved purchases so long as a money balance backs up the card.

If your child asks for extra money to get added to the card, you can have them take a photo of the purchase they want to make and receive your approval. This gives you control and allows you to have discussions with your child about why a purchase might be a good or bad idea. And if your child has a job, they can add their own funds to the card via direct deposit.

Greenlight boasts numerous other features, too: 

• Parents can open an investment account for kids to get their children investing in stocks and exchange-traded funds (ETFs) for the first time.
• Greenlight offers monthly savings rewards based on your tier.
• Max, Infinity, and Family Shield families can also earn 1% cash back on their spending.
• You may also set up "Parent-Paid Interest" between you and your child, which allows you to foot the bill and pay interest on accounts for up to five kids.

Each monthly Greenlight subscription includes debit cards for up to five kids. Replacement cards cost $3.50 each but are free the first time. If you need to replace your card quickly, you can get express delivery for $24.99. The company also offers a personalized card, with your own photo or design, for $9.99.

Greenlight has no minimum age requirements for this card, but recommends starting at age 6 or older.

Sign up for Greenlight via our link.

2. Cash App Families

• Available: Teens (13-17): Sign up here | Kids (6-12): Sign up here
• Price: Free* (no subscription fees)

Do you want your children to start learning smart money habits? Cash App Families can accomplish that—with no subscription fees—by putting the power of Cash App into your kids' hands while keeping their financial safety firmly in yours.

Teens can spend, save and invest with Cash App Families. A parent or guardian** sponsors the account, which comes with a designable Cash App Visa^® Card they can use to spend money where Visa is accepted. Meanwhile, access to Cash App allows them to save money toward specific goals, send money to friends, accept offers for instant discounts at their favorite places, and check out securely in stores and online by using a QR code.

If your teen direct-deposits $300 or more each month, they'll also unlock a bevy of other features, including getting paid two days earlier, no ATM fees¹ when withdrawing from more than 40,000 in-network ATMs, and one waived out-of-network ATM withdrawal per month.

Cash App Families even has an investing feature with fractional shares, allowing teens to purchase as little as $1's worth of stocks and Bitcoin (parent permission is required).²

Younger kids, ages 6 to 12***, can learn money basics, too, through Cash App Families Managed Accounts. These provide a fully parent-managed money experience with no subscription fees, no minimum balance requirements, and no hidden charges, and they too can design their very own Cash App Visa^® Card, making their first financial tool feel truly their own.

Both teens and kids can watch money grow thanks to Cash App's high interest rates on savings balances and with the assistance of their parents/legal guardians.³ They also benefit from downright stellar parental controls and safety features. Parents can monitor activity from their own Cash App or receive real-time transaction alerts for kids' payments and purchases. You control which features—stocks, Bitcoin², sending money, the Cash App Visa^® Card—your teens can access, and certain spending categories are auto-blocked. For kids ages 6-12, all account access lives within your own Cash App—your child never logs in independently. You set the rules, and you can change them anytime.

Parents/guardians must download Cash App (also free). From there, they'll either invite their teen to create a sponsored account, or create a managed account for children under age 13.

Get started with Cash App Families using our links:

Sign up for Cash App Families for teens (ages 13-17).

Sign up for Cash App Families Managed Accounts for kids (ages 6-12).

(See my story for Cash App disclosures.)

3. Acorns Early

• Available: Acorns Early Lite | Acorns Gold
• Price: Acorns Early Lite: Free 30-day trial, then $8/mo. Acorns Early: $12/mo.

Many reviewers have long painted Acorns Early (formerly GoHenry) as just a way to spend. However, I see it as a real financial solution for minors—a debit card, yes, but also an app-based ecosphere that provides education and experience for the child, as well as ways for parents to keep their kids safe and teach them responsibility.

An Acorns Early account includes a smart money app, as well as Visa debit cards for up to four children. These debit cards can be used to spend anywhere Visa is accepted (so, millions of vendors online and in stores), as well as withdraw cash from ATMs. An Acorns Early account also allows kids to set savings goals, which they can fund manually or via autosave. And the app also hosts educational materials to help children and teens alike develop good money habits.

This FDIC-insured account also enjoys a variety of safety features, including chip and PIN protection, secure PIN recovery, and fraud protection. Acorns Early also offers parents additional peace of mind by providing a number of controls, including:

• Real-time spending notifications
• Card lock/unlock
• Savings goal lock/unlock
• Adjustable spending limits on a per-transaction and per-week basis
• Card category block/unblock for in-store purchases, online purchases, and ATM withdrawals
• Adjustable spending block/unblock at stores that sell age-restricted goods such as firearms and alcohol

Also, kids can only spend whatever money is available on the card because it's a prepaid debit card. That means parents don't have to worry about costly overdraft fees or their kids running up a debt.

Acorns Early also stands out to us as one of the best prepaid debit cards for kids because of its outstanding customer service, which it inherited from GoHenry. Acorns Early users enjoy seven-day-a-week phone service (9 a.m. to 8 p.m. ET Monday-Friday, 9 a.m. to 5 p.m. ET Saturday-Sunday), as well as 24/7 live chat support.

Acorns Early has no minimum age requirements but recommends starting at age 6 or older. Parents have two ways of signing up for Acorns Early: 

1. Sign up for Acorns Early Lite. This subscription level provides you with everything mentioned above.
2. Sign up for Acorns Gold. Acorns Gold is the top Acorns subscription tier for adults, and it provides a wealth of banking, investing, and other features. However, it also includes a subscription to Acorns Early (again, good for up to four children), and it unlocks Acorns Early Invest: a UGMA/UTMA custodial account you can use to invest for your kids' future.

Get started with Acorns using either of our links.

Sign up for Acorns Early Lite.

Sign up for Acorns Gold.

¹ My actual first job was at Aeropostale. My mom spent $200 on clothes for me using my employee discount. I then found out most of the job would be spent in the back folding clothes instead of running register and dealing with people, so I quit after my first day.

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Thank you again for reading. And if you’re watching the World Cup this Sunday, ¡Vamos, la Roja!

Riley & Kyle

Young and the Invested

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