How to get a Debit Card for Teens at 14, 15 & 16 Without Parents
Easy transfers, parental monitoring, and spending limitations are all features of the best debit cards for minors. They also have no monthly service fees, no overdraft fees, ATM rebates, and no extra expenses for high-interest rates.
We can assist you with questions such as what age a minor can obtain a debit card. We delve further to assist you in selecting the best debit card for kids and the checking account that goes with it.
What is the minimum age to obtain a debit card?
When a parent or legal guardian creates an adolescent checking joint account on their behalf, a child can typically acquire a debit card at the age of thirteen. Teen checking accounts are usually available until the youngster reaches the age of eighteen.
When the account holder reaches the age of 18, the charge is frequently converted into a conventional checking account with additional spending and withdrawal limits. Before you open an account, be sure you meet the minimum age requirements.
Debit card and checking account features to look for
With the correct teen checking account and debit card, your child may be free to make purchases while still being supervised by an adult.
Debit cards can come with daily withdrawal and spending limitations to help kids budget and provide parents peace of mind. Alliant’s Teen Checking, for example, offers daily cash withdrawal and expenditure limitations of $100 and $300, respectively.
Fee-free ATMs and ATM fee rebates
These are two other debit card bonuses to keep an eye out for. You may also look for a credit union or bank account for kids that do not charge a monthly fee or charges for overdrafts.
Bring your teen along when looking for a checking account and debit card so they can understand that not all bank accounts are created equal. Some reports have fees, while others offer excellent rates. Sit down with them and go over the fee schedule, just like you would with any other account, so they know how to avoid costly fees like non-sufficient money (which some accounts have).
Transferring money to your teen’s bank account should be simple once you’ve become a joint owner. You have the option of setting up recurrent transfers or one-time transfers. A mobile app or online banking will allow you and your teen to keep track of the account. A decent teen checking account will also allow you to set up transaction alerts so that you and your child are both aware of any transactions made.
Mobile wallet compatibility
We’re all banking differently now than we were five years ago. You’ll want a debit card that works with mobile wallets like Apple Pay, Samsung Pay, and Google Pay and a user-friendly mobile app. Teens can use their debit cards by simply tapping their phones. Mobile wallets may even be safer than using a physical card.
Say goodbye to missing paychecks with direct deposit and high-interest rates! Direct transfer into their checking account is an option if your kid works part-time. They could watch their money grow if the version has a high-interest rate.
How a debit card for teens can help them learn to handle their money
According to studies, we obtain most of our financial advice from our family. When you open a bank account for kids, you may teach them crucial financial lessons they will remember for the rest of their lives.
A debit card may teach a teenager about money’s value and the need to set aside money for specific goals. Several teen checking accounts have personal financial management apps within their online banking platform. If your kid is saving for a large purchase, such as a cell phone, they can examine their debit card spending to see where they can save money.
Teens can learn how to use a credit card by practicing money management using a debit card. Teens can learn not to stretch their budget too thin by setting spending limitations and having a limited quantity of money. Teens can learn to monitor their spending and transactions by utilizing an app linked to their debit card. This will help them better understand their spending habits. It will also teach them how to monitor their accounts for signs of fraud.
Is it possible to get a debit card for teens at 14, 15, 16?
In most cases, you consider your existing circumstances and begin weighing possibilities based on your knowledge. As a result, your bank is the most likely place to start thinking about getting a debit card for your child.
Though laws differ by financial organization, some do not allow kids under 16 to have debit cards in their names. Others opt to give them to teens aged 13 and under. You don’t want to merely hand your child a debit card, even if you can get one from your current bank. You may desire more visibility and control over your spending to instill positive habits.
Having a joint prepaid debit card with your child or teen, for example, allows you to handle money together and agree on what the card can be used for. These cards provide youngsters the power they want over their money while also allowing parents to keep track of their spending and provide helpful advice when necessary.
Traditional banks don’t always have these controls available, making account administration challenging without the proper tools.
Instead, a new breed of financial companies has evolved to empower parents to make financial decisions with their teens and provide them with the tools they need to handle money how they see fit.
What are the Best Free Debit Cards for teens?
Let’s look at a few of the most excellent free debit cards for teens and teenagers. Below is a selection of the top free debit cards for teenagers and teens that should suit your needs. Examine each and decide which makes the most sense for your requirements.
- Axos First Checking
- Till Financial
- Chase First Banking
- Nationwide First Checking