How Old Do You Have To Get A Debit Card: Debit cards for teens enable them to flexibly deal with their own money. It is like the normal adult debit cards with full account control available to the parents of those kids. Through using debit cards for teens they primarily learn the basics of saving and budgeting. But at the same time, the accounts are under the full control of the parents so that the kids don’t get into financial trouble. 

There are several debit card options for teenagers but the best ones are paired with mobile applications with the ability to tack the transactions and credits over time. Some of the debit cards have the option of spending limit to make the teenagers understand the correct financial decisions. This option is also helpful to safeguard them from overspending money. 

We will now discuss How Old Do You Have To Get A Debit Card. Let’s get started.

Greenlight Debit Card

The Greenlight debit card is a popularly loved kid’s debit card. It offers many benefits and values to both parents and teens. It is paired with a user-friendly, simple mobile app that teaches kids to manage and spend money responsibly. The teens will be offered up to 5 debit Mastercards and all of them are linked to the accounts controlled by parents. The debit cards enable the parents to monitor and keep a track of how much their children are spending and can also activate or deactivate the cards if needed. The monthly fee of Greenlight debit card is $4..99. It comes with basic debit card facilities paired with the mobile application and parent controls. The kids can get an investing platform in the debit card with a monthly fee of $7.99 per month. There is a Greenlight Max account that costs $9.98 per month and offers priority customer services like alerts, cell phone protection for lost or damaged phones, identity theft monitoring, and restoration. 

However, there are a few limitations of the Greenlight Kid’s debit card. The current maximum spending in a day is $1500. This is a lower rate than some other debit cards yet many parents choose Greenlight for this particular reason only. But the major problem is that the account linked with this card cannot be credited through PayPal or credit cards. 

The pros of the Greenlight debit card

  • Buil-in Financial Education
  • Specific spending from a specific store can be blocked.
  • Chore managements and payments
  • Full parental control and spending limits

          The cons of the Greenlight debit Card

  • Bank account and debit cards are the only funding options.
  • The spending limit is $1500.

Axos Bank Debit Card For Teens

Axos Bank offers a free debit card for first-time accounts. The teens do not have to pay account fees and it involves no insufficient fund fees, maintenance fees, and overdraft funds fees. It also offers a $12 reimbursement fee every month. Now there can be a question like How Old Do You Have To Get A Debit Card? Well, Axos bank offers debit cards to 13-17-year-old kids. The checking accounts have joint owners like the child and the parents and come with a free debit card. It also comes with peer-to-peer payments as well as FDIC insurance and online bill payment. 

Although Axos bank mobile app does not offer many features unlike other debit cards, it is a very cost-effective and inexpensive debit card for teenagers. They can learn money management from this inexpensive debit card. But it requires a parent to be registered to have control over the debit card. Parents have the access to activate or deactivate the debit cards and linked accounts. 

The Axos bank debit card enables the teens to directly deposit their paychecks to the counts. There are different interest schemes with the checking accounts but the interest rate is very low like 1%. But it is a learning process for the teenagers so that they understand real-world financing. 

The pros of Axos bank debit card

  • Inexpensive and no fees needed.
  • Joint checking account
  • ATM reimbursements

The cons of Axos bank debit card

  • Only available for 13-17-year-old teenagers
  • Limited parental controls

Summary Of How Old Do You Have To Get A Debit Card

Debit cards for teens enable them to flexibly deal with their own money. It is like the normal adult debit cards with full account control available to the parents of those kids. Some of the debit cards have the option of spending limit to make the teenagers understand the correct financial decisions. This option is also helpful to safeguard them from overspending money. The Greenlight debit card offers many benefits and values to both parents and teens. It is paired with a user-friendly, simple mobile app that teaches kids to manage and spend money responsibly. Axos Bank offers a free debit card for first-time accounts. The teens do not have to pay account fees and it involves no insufficient fund fees, maintenance fees, and overdraft funds fees.

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