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Looking into some sort of debit card for teens
Posted on 8/16/22 at 9:01 am
Posted on 8/16/22 at 9:01 am
I googled, saw this Greenlight card company. Pretty cool setup of monitoring, loading and all this crap. Then i saw like monthly fees of $5-$10 a month.
Any ideas of how to do a manageable debit card for a kid?
Any ideas of how to do a manageable debit card for a kid?
6
Posted on 8/16/22 at 9:05 am to Chad504boy
Open a bank account for them at your bank?
Pretty much every bank has a kids account that is free
Pretty much every bank has a kids account that is free
Posted on 8/16/22 at 9:11 am to Mingo Was His NameO
maybe. i bank at regions. don't really love their set up too too much.
Posted on 8/16/22 at 11:39 am to Chad504boy
Try Capital One. My wife set up accounts for our kids. They have their own card and she can transfer money to them when they run low from our accounts thru the app. It's so simple even I can do it.
Capital One Link
Capital One Link
This post was edited on 8/16/22 at 11:41 am
Posted on 8/16/22 at 12:16 pm to REB BEER
Look into Fidelity. They are offering $50 for opening a kids account for age 13-17. They also will give you $100 for opening your own account with just $50. Free debit card for teen and parental control via app
Posted on 8/16/22 at 12:21 pm to TorchtheFlyingTiger
thanks. really didn't feel like moving primary accounts. I did find a app/bank called Till financial. Open up a family account, can then set up debit cards for kids. All the same features that a lot of apps advertise. No fee with Till at all though.
Posted on 8/16/22 at 1:18 pm to Chad504boy
Just went through this myself. Check out Copper. It's what I ended up getting mine. No recurring fees. Instant deposits via debit card charge a small fee - like 1%. Bank transfers are free but take 2 days.
Plus you can see what the little shits are buying through the parental app
Plus you can see what the little shits are buying through the parental app
Posted on 8/16/22 at 1:41 pm to Mingo Was His NameO
quote:
Pretty much every bank has a kids account that is free
My bank required a school id or a government id for a debit card, so we had to go through one of the other services to get my 10-year-old a debit card. I don't remember which card my wife picked up.
Posted on 8/16/22 at 2:00 pm to wickowick
That's one of the reasons I opened my kid an account with that Copper service. I did it all online in 15 minutes vs having to go to a bank etc. Our bank (Regions) seemed like it was going to be more of a hassle.
My youngest is 15 and goes to the movies etc with friends all the time and it was a pain to always need cash to give her. She can use this until she's 18.
My youngest is 15 and goes to the movies etc with friends all the time and it was a pain to always need cash to give her. She can use this until she's 18.
Posted on 8/16/22 at 2:01 pm to fallguy_1978
Copper seems identical to what this Till bank/app is.
Posted on 8/16/22 at 3:11 pm to Chad504boy
If you have your checking through Chase, their First Banking is pretty good.
Parents can open the account from your Chase app. The kid gets a debit card in their name. Kid can download the Chase app and have their own login. Parent's existing Chase login will show them the kid's account, but the kid's login will only show them their own account. Easy to transfer money in and out of the account and you can assign chores with a dollar value for each. There's some other restrictions you can set too if you want on where they can spend money and how much. They can't use the account for any P2P payments (Paypal, Apple Pay, Venmo, etc)
ETA: and no fees
Parents can open the account from your Chase app. The kid gets a debit card in their name. Kid can download the Chase app and have their own login. Parent's existing Chase login will show them the kid's account, but the kid's login will only show them their own account. Easy to transfer money in and out of the account and you can assign chores with a dollar value for each. There's some other restrictions you can set too if you want on where they can spend money and how much. They can't use the account for any P2P payments (Paypal, Apple Pay, Venmo, etc)
ETA: and no fees
This post was edited on 8/16/22 at 3:12 pm
Posted on 8/16/22 at 4:20 pm to REB BEER
quote:
Capital One.
Do you have a Cap One account as primary, and can see the kids accounts in addition to yours all through the Cap One app?
Also, are there any overdraft fees if a purchase is made when there aren't enough available funds. Hope I don't have to worry about that but just asking in case.
This post was edited on 8/16/22 at 4:23 pm
Posted on 8/16/22 at 7:00 pm to Chad504boy
quote:
really didn't feel like moving primary accounts.
No need to move primary accounts to take the Fidelity deal. Just open the new Fidelity account with $50 and get $100. Then open kid accounts and get $50.
Posted on 8/17/22 at 12:22 pm to Tiger Prawn
I second the Chase debit option. It works very well if you have a Chase primary checking. Instant transfers and a great app.
Posted on 8/17/22 at 12:29 pm to Chad504boy
quote:
Any ideas of how to do a manageable debit card for a kid?
Just add them to your account and place a limit of like $100 on it.
I have my GF on my credit card account and limit it just in case she decides to go all woman on me.
Posted on 8/17/22 at 6:38 pm to TorchtheFlyingTiger
quote:
No need to move primary accounts to take the Fidelity deal. Just open the new Fidelity account with $50 and get $100. Then open kid accounts and get $50.
Nice. An acquaintance of mine has a teen daughter. I’ll tell them about this.
Posted on 8/19/22 at 4:19 am to I Love Bama
quote:
Any ideas of how to do a manageable debit card for a kid?
quote:
I have my GF on my credit card account
Posted on 8/19/22 at 7:47 am to fallguy_1978
quote:
Our bank (Regions) seemed like it was going to be more of a hassle.
Regions standard operating procedure is to make everything as complicated and hassled as possible. One exception is their ATM, which is so much more user friendly than the humans inside the building.
Posted on 8/19/22 at 11:03 am to Twenty 49
Ok, how many of us have Regions as their primary bank and are annoyed with them
The Chase one sounds pretty good, and have been considering moving from Regions to Chase. Just never pulled the trigger because I don't feel like dealing with Regions
The Chase one sounds pretty good, and have been considering moving from Regions to Chase. Just never pulled the trigger because I don't feel like dealing with Regions
Posted on 8/19/22 at 11:29 am to Weekend Warrior79
quote:
The Chase one sounds pretty good, and have been considering moving from Regions to Chase. Just never pulled the trigger because I don't feel like dealing with Regions
I've had my current Regions account since it was Union Planters Bank. I opened it around 1996 or something like that. I just don't feel like trying to replace it everywhere
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