What Is a Debit Card for Kids?

What Is a Debit Card for Kids?

What is a debit card for kids?

A children’s debit card is just like your everyday debit card. There are a few different types of debit cards for kids, from prepaid cards to reloadable kids’ debit cards. Some are tied to the child’s bank account, while others keep information linked to the parent’s and offer more controls. While there are some differences, all debit cards work in a similar way, pulling funds from an account with money you own, not credit.

Differences between regular cards and debit cards for kids

The main differences between your debit card and a kid’s debit card are the special security features for children and how old you have to be to open the account. Keep in mind, banks can set their own rules for how old your child has to be to open a debit account. Some banks may not offer debit cards for kids at all. Debit cards for kids give your child the same debit power, but offer more parental controls like spending limits and monitoring. So that parents can actively guide kids as they make spending decisions.

Why parents use kids’ debit cards

Debit cards can offer a safer option for kids than cash. If your child’s card is lost or stolen, you can freeze the card while your money stays protected in an account. Parents want to encourage financial independence while maintaining parental controls. Look for a debit card for kids with the benefits of both. A card with parental controls can help you set limits on spending and monitor your child’s activity.

How debit cards benefit your kid

Your child will likely start spending money more independently as they go out with friends and make their own purchases. A debit card can be a great tool to teach your child important money lessons without the risk of overspending or going into debt. With a debit card for kids, your child can easily swipe their card, pay friends back, and save toward goals. Kids can also learn important money lessons with fun videos and quizzes through our in-app Money Missions.

Before you get a debit card for kids

If you’re considering a kid’s debit card, make sure your child is ready to learn about money and understands how to use a debit card. Begin the conversation before giving them their own account. Debit cards for kids can be a great tool that allows kids to practice financial independence while still allowing parents to monitor activity and control spending. GoHenry allows parents to set spending limits and control the type of places your child’s debit card can be used.


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Written by Kristin Yarbrough Published Jul 2, 2022 ● 3 min. read