Best Debit Cards for Kids, 2024
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Overview of best debit cards for kids
Debit card | Best For |
Greenlight | Savings and investing features |
BusyKids | Paying allowance |
Chase First Banking | No fees |
GoHenry | Spending controls |
Capital One MONEY | Interest-earning |
- Up to 2.00% Annual Percentage Yield (APY)–over 10X the national average!
- No minimum balance, no monthly service fees, no overdraft
- Get your paycheck up to 2 days earlier
- Signing up takes 2 minutes
Best debit cards for kids
1. Greenlight Kids’ Debit Card
- Price: $4.99 per month (up to five cards for children and 2 for adults)
- Pros: No withdrawal fees, no overdraft fee,1% cashback, investing options
- Cons: Monthly charge
2. Busykid Visa Prepaid Spend Card
- Price: $4 per month, charged yearly
- Pros: Charity donation option; saving and investing options
- Cons: Monthly charge; no interest-earning option
3. Chase First Banking
- Price: $0
- Pros: Ability to control a child's spending at certain merchants; spend, earn, and save categories
- Cons: No interest-earning option; no ability to invest or give to charities; $3 for out-of-service ATM withdrawals in the U.S.
4. GoHenry Debit Card
- Price: $4.99 per month
- Pros: Financial literacy quizzes; spend, earn, and donate categories
- Cons: Monthly cost; no interest-earning option; no ability to invest; only one charity to donate to
5. Capital One Money
- Price: $0
- Pros: No monthly cost, set savings goals, earn up to 0.10% APY in interest
- Cons: No investment or donate options
- Up to 2.00% Annual Percentage Yield (APY)–over 10X the national average!
- No minimum balance, no monthly service fees, no overdraft
- Get your paycheck up to 2 days earlier
- Signing up takes 2 minutes
Summary of best debit cards for kids
Debit Card | Monthly Cost | ATM fees | Minimum Age | Interest | Investing options |
Greenlight | $4.99 | $0 | 8 | Up to 1% cash back | Yes |
BusyKid | $4, charged annually | Not eligible | 5 | Not eligible | Yes |
Chase | $0; must be a Chase banking account holder | $3, out of network | 6 | Not eligible | No |
GoHenry | $4.99 per month | $1.50 | 6 | Not eligible | No |
Capital One | $0 | $0 | 8 | Up to 0.10% APY | No |
Other options to consider
FAQs
- Up to 2.00% Annual Percentage Yield (APY)–over 10X the national average!
- No minimum balance, no monthly service fees, no overdraft
- Get your paycheck up to 2 days earlier
- Signing up takes 2 minutes
The bottom line
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Courtney Johnston is a freelance writer, specializing in finance, travel, and health. She has written for The Chicago Tribune, Benzinga, BestReviews, Mashvisor, Fundera, MoneyGeek, and The Culture Trip. She also teaches writing instruction at the University of Indianapolis. Courtney currently resides in Indianapolis.