Your adorable little one can confidently count to ten by the age of 3, and by the time they hit 6, they're all set to extend their math skills beyond the classroom — especially when it comes to counting money. It's the ideal moment to dive into a hands-on financial literacy lesson by introducing a prepaid debit card.

“Through [a debit card], kids can grasp the fundamentals of spending, saving, and budgeting within a controlled environment,” says Robert Farrington, MBA, the founder and CEO of TheCollegeInvestor.com. 

There are a lot of debit cards marketed for kids right now, but each has unique features that set them apart and can help you determine which is best for your family. Here, we’ll break down what to consider before getting a debit card for your child — as well as a list of vetted, parent-approved debit cards for you to choose from.

What to look for in debit cards for kids

When considering debit cards for children, there are some key features to look for, says Dennis Shirshikov, a professor of finance, economics and accounting at the City University of New York. These include:

  • Parental controls, such as setting spending limits and transaction notifications

  • Minimal or affordable monthly fees

  • Ease of use, which may include simple and user-friendly apps or websites 

  • Robust security features, such as the use of a personal pin number and FDIC insurance, to protect you from bank failures

  • Age requirements that meet your needs

“In my opinion, the most important are educational tools and parental controls,” says Shirshikov. “These features not only keep the child's spending in check but also provide teachable moments. For instance, a card that offers savings goals or spending analytics can be a valuable educational resource.” 

Farrington says other key features parents may want to consider include the ability to set spending limits and being able to control where the card can be used. User-friendly interfaces on debit card apps for parents and their kids as well as access to educational tools within the app are also on Farrington’s list of important features.

“These features empower parents to oversee their child's financial activities while providing valuable learning opportunities,” Farrington says.

How we chose the best debit cards for kids

To help you select the best debit cards for your kids, we narrowed down our picks based on the following criteria: 

  • We consulted with two financial professionals for this article. Robert Farrington has an MBA in entrepreneurship from the University of California, San Diego, and is the founder and CEO of TheCollegeInvestor.com. Farrington uses his personal experience in corporate investing to advise Millennials on how to navigate student loan debt and build wealth for their families. We also consulted with Dennis Shirshikov, a professor of finance, economics and accounting at the City University of New York. 

  • All recommended options offer parental controls, which these professionals deem one of the most important features of a debit card for kids. Each of the cards we recommend allows parents to view all transactions that their children make. Nearly all of the cards also allow parents to set spending limits. 

Best debit cards for kids

Greenlight

Features:

  • Age requirements: No age restrictions

  • Monthly fees: Plans start at $4.99 per month for five kids, and go up to $14.98 a month if you want additional features, such as investing capabilities

Pros:

  • Can be used at any ATM with no fee

  • More expensive plans offer 1% cash back on purchases

  • Parental controls include limiting weekly spending, paying your child’s allowance by adding more funds to the debit card and assigning chores

  • All plans include savings awards; your child can earn between 1% to 5% on money that they put in a Greenlight savings account

Cons:

  • Has higher fees on some plans than other debit cards

  • Investing only available on plans with higher fees 

Why we love it

There are many good debit cards out there for kids, and you can even get a debit card directly from your bank. But if you’re looking for something more robust, the Greenlight debit card is at the top of Farrington’s list. “The Greenlight debit card stands out for its extensive parental controls, fee-free instant transfers and a focus on financial literacy within the app,” he says. 

The Greenlight debit card is one of the most popular on the market and with good reason. Parents praise it for its ease of use, extensive parental controls and a shared app that notifies parents about exactly what their child has purchased and makes it easy to access their transaction history. Parents also love the fact that you can assign your child chores in the app and then pay them once the chores are completed. 

Chase First Banking 

Features:

  • Age requirements: ages 6 to 17

  • Monthly fees: None

Pros:

  • Parental controls include limits on where and how much your child can spend and alerts that tell you when your child has made a purchase

  • Can be used for free at all Chase ATMs

Cons:

  • You must already be a Chase customer to use it

  • No investing capabilities

Why we love it

The Chase First Banking card is another top pick of Farrington’s. The card’s seamless integration with a mobile banking experience, along with its absence of monthly fees, are the top reasons he recommends it. Parents are attracted to the Chase card because it’s associated with a well-known bank. They also like the heavy-duty parental controls and value the ability to set spending limits and oversee usage.

Go Henry

Features:

  • Age requirements: 6 years old and up

  • Monthly fees: $4.99 for one child; $9.98 for a family plan for up to four members

Pros: 

  • Parental controls include limiting spending each week and even per purchase

  • Allows parents to restrict where money can be spent, including specific types of establishments — for example, you could ban your child from using the card at places that sell alcohol and tobacco

Cons:

  • Pricey monthly fees

  • No cash back, savings or investing options

Why we love it

Go Henry is a debit card that also acts as an educational tool, explains Alicia Sanchez, blogger and financial educator at Mamas Dinero. It’s an excellent way to teach young kids — starting as early as age 6 — key concepts about spending choices and how money works. Go Henry is a perfect “basic” debit card.

Sanchez is also in love with Go Henry’s security features. “Go Henry has password-protected top-notch security and additional reminders deposits,” Sanchez says. 

BusyKids Debit Card

Features:

  • Age requirements: 5 years old and up

  • Monthly fees: $4 for up to five kids

Pros:

  • Parental controls include overseeing how much of your child’s allowance goes on the card and tracking their daily spending

  • Investing is included with a basic subscription

Cons:

  • ATM withdrawal fees are $1.50 on all ATMs

  • Only allows for an annual subscription of $48 a year, which must be paid upfront

Why we love it

BusyKids is a basic debit card for kids that focuses on allowance and chores as a means of payment. This teaches children that money doesn’t grow on trees and it makes them feel responsibility and pride toward the money they’ve earned. Unlike Greenlight, BusyKids offers a flat fee that includes an investing component.

Copper Banking

Features:

  • Age requirements: No age restrictions

  • Monthly fees: $4.95/month for a basic plan with up to five users; $7.95/month for investment capabilities

Pros:

  • Parental controls include spending alerts in real-time, the capability to freeze spending and the ability to schedule allowance payments

  • Free ATM usage       

  • You can earn up to 2% on savings

Cons:

  • Higher fees

  • Can only invest if you increase your monthly fee

  • Doesn’t allow parents to limit spending

Why we love it

If you are looking for a debit card that offers a little more freedom and caters to older kids and teens, Copper Banking is the app for you. The app emphasizes financial literacy and making smart decisions with finances. It’s a learning app as much as it is a debit card. Copper has some of the best investment features of all the debit cards we reviewed, including the ability to curate an investment portfolio. This involves teaching teens about what an investment portfolio is, asking them some questions about their comfort with investing their money, and matching them with an investment portfolio that meets their needs. Teens can start investing with as little as $1 from their debit card balance.

How to safely introduce a debit card to your kid

Once you’ve picked out your child’s debit card, you’ll want to make sure that you and your child know how to use the card and the online tools attached to the card. You’ll also want to establish some house rules, says Farrington. “This includes clearly communicating usage instructions, setting spending limits to teach budgeting, introducing financial concepts such as earning and saving and involving kids in money decisions,” he says.

Another important aspect of introducing the card is having your child begin to reflect on their spending choices. Initially, your child is likely to be excited about the freedom a debit card offers them. But it’s also an opportunity for your child to learn first-hand that money isn’t limitless. 

“Involve them in monitoring their spending and encourage them to reflect on their choices,” Shirshikov suggests. “For example, discuss the difference between wants and needs, and how to prioritize spending. This approach turns the debit card into a learning tool rather than just a means of spending.”

The bottom line

Although choosing a debit card for your kid can feel like a daunting process, it doesn’t have to be. The good news is that there are quite a few debit cards out there that offer top-notch parental controls, low fees and straightforward user experiences. 

It’s one thing for kids to be taught the importance of smart money management, but it’s quite another thing for them to experience it firsthand. Debit cards are a great training tool for kids because they can get a real-life feel for what it means to spend money, save money and manage their money — all under the careful watch of their parents.