Then, we can look at the features of the best prepaid debit card programs available to kids and how you can sign up. LetвЂ™s look at some of the best prepaid debit cards for teens. Instead, a new breed of financial companies have emerged to empower parents to make money decisions with their children and equip them with the capabilities to manage money in a way theyвЂ™d like. Traditional banks donвЂ™t often have these controls available to you, making this a difficult task without the tools necessary to oversee account management. These cards give teens the control they seek over their own cash but also allow parents to monitor the spending and offer useful guidance when needed. Such options include having a joint prepaid debit card with your teen, allowing you both to manage the money jointly and agree on what the card can be used for. You might want more insight and control over their spending so you can introduce good habits. Others choose to offer them to kids who are 13 or younger.Д«ut even if you can get one from your current bank, you donвЂ™t want to just hand your child a debit card. Though rules vary by financial institution, some donвЂ™t allow minors to have debit cards under their own name before the age of 16. Therefore, the most likely place you will start to think about getting a debit card for your child would be your own bank. Typically, you think of your current situation and start evaluating options based on what you know. Can I Get a Debit Card for Teens Under 18? Traditional banks or prepaid debit cards might not allow you to do this beyond keeping the account balance at a certain level. These cards also effectively function as a prepaid debit card because you can establish parental controls. Some new apps even allow you to lock the card or limit where your child spends money. However, these accounts may not come with the custom spending controls, parental oversight or feature-filled mobile apps many new debit cards for teens provide. ItвЂ™s likely that your child will need to be at least 13 years old before receiving a card. Parents can choose one possible path: opening a subaccount from their own bank account to provide their kids with a card to use. Minors canвЂ™t open their own bank account until they reach the age of majority in their state-often 18 years old. Do Teen Debit Cards Offer Contactless Payments?.What Other Investment Accounts for Teens Should I Consider?.Do Debit Cards for Teens Collect Personal Data?.Is a Debit Card for Kids a Good Option for Teens?.Can an 8, 11, 12 or 16-Year Old Have a Prepaid Debit Card?.What to Do Before Getting a Debit Card for Teens.TeensвЂ™ Debit Cards vs TeensвЂ™ Prepaid Cards.5 Money Lessons TeensвЂ™ Debit Cards Teach.What Features Should a Debit Card for Teens Provide?.What are the Best Prepaid Debit Cards for Teens?.Can I Get a Debit Card for Teens Under 18?.Refinance Student Loans | First Republic Bank.

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