The Best Free Debit Cards For Kids To Teach Them About Money

Giving your child a debit card can be an excellent way to teach them about money and budgeting early in life.

There are a lot of money lessons that kids can learn when using a debit card. Though, the one skill that they will likely pick up above everything else is budgeting. By allotting them a predefined amount of money, you put the power in their hands to decide how they want to spend their cash.

Most of the best debit cards for kids are prepaid cards that you can load money onto. Since they are prepaid, you avoid the need to open a checking account and eliminate any possibility of overdrawing an account.

The 6 Best Kids Prepaid Debit Cards

1. Akimbo Prepaid Mastercard The Akimbo prepaid debit card is technically free. However, even though there is no monthly or annual fee, there is a litany of other costs.

2. Movo Digital Prepaid Visa Card

With Movo, it’s free, which is a massive advantage if you plan to load small increments of money onto the card frequently.

3. Current Visa Debit Card

The Current card is not free, but it does offer transparent pricing and a one-month free trial. For only $36 a month, you add money to your card as many times as you’d like, worry-free.

4. FamZoo Mastercard Reloadable Prepaid Card

The FamZoo card is probably the most popular kids’ debit card option on this list. That’s because it was designed to be a kid’s debit card, whereas some other options on the list are just prepaid debit cards that happen to be good for kids.

5. Gohenry Prepaid Mastercard

Gohenry offers a free 30-day trial. After that, it is one of the more expensive cards on the list, coming in at $3.99 per month per child. The premium price could be warranted depending on what you are looking for in a kid’s debit card. Gohenry is designed for kids, similar to FamZoo, and offers a sleek app intended to help teach kids about money.

6. Greenlight Kids Debit Card

Rounding out the list is Greenlight, another card designed for kids. In fact, their tagline is “the debit card for kids, managed by parents.” The pricing is set up similar to FamZoo, where you pay $4.99 per month but can have multiple kids on the account.

Getting a debit card for your kid to use can be a great way to help teach them about money and budgeting. Though it can also be a great way to simplify your finances, instead of doling out an allowance in cash, you can manage money digitally, just like most of us do when paying our own credit cards or monthly bills. The key when choosing a card is to make sure the benefits outweigh the costs.

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