Kids’ Debit Cards – Special Debit Cards for Kids


We’ve talked about debit cards earlier. But can kids have their own debit cards?

Generally, you have to be at least 18 years old to have your own debit card. But there are special debit cards that are meant for kids, which have lower age restrictions – as low as 6 years old. And some of these have no age restrictions at all!

What are the special features and advantages of kids’ debit cards?

Kids’ debit cards are prepaid, so there is a limit on the amount a kid can spend at a store or withdraw at an ATM. For some of these debit cards, parents can schedule a recurring allowance, apart from one-off payments. With some cards, parents can even select where their kids can use the card – like specific restaurants or the local movie theater.

Lastly, parents can teach their kids to start saving at a young age by setting savings goals – like for those expensive shoes they’ve been eyeing, or the next video game. Kids can save by allocating a portion of their allowance towards the goal. Parents can also sweeten the deal by offering incentives like interest on the savings.

Are there any disadvantages?

The main disadvantage of kids’ debit cards is their fee. The fee ranges from $3.99 to $5.99 per month, and usually includes all the kids in the family.

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How can someone get a kids’ debit card?

It’s fairly simple for parents to get a debit card for their kids. Depending on the card issuer, it can be bought online directly from the issuer, or from banks and retailers they have partnered with.

Special Debit Cards for Kids
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