ANother vote for the Capitol One Money account. The debit card is free -- all of my kids get this when they turn 13.

I can auto fund allowance, pay them back for a particular purchase, and send money when needed. They can also pay me back through the app! Plus they can get cash from the ATM if they need it.

Capitalism one, it’s great but I also had an account there already

I looked at Greenlight but Fidelity offers this for free.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:MY DD has a kid account with Capital One -- it works great. It's free, has no minimum, and she has a debit card she uses. I either deposit checks into her account or just transfer from mine.

+1 The Capital One Teen Money account is great.

+2

+3, and you (parent) don’t even need to have a capital one account. I looked at greenlight but don’t see the point in paying for the service when you can get it for free.

Revolut

Anonymous wrote:

Anonymous wrote:MY DD has a kid account with Capital One -- it works great. It's free, has no minimum, and she has a debit card she uses. I either deposit checks into her account or just transfer from mine.

+1 The Capital One Teen Money account is great.

+2

You can also set up a venmo teen account and it comes with a debit card. Kids have their own savings account and debit card. We do payment to them via Apple Cash to keep things separate- what we pay for vs what they pay for. So they use their debit card to use their own money, apple cash if it is our money. Been a great leanring experience.

I pay for Greenlight. Its very easy and I like the investment options. Gave it to DD when she was 13. Its been really helpful.

Anonymous wrote:MY DD has a kid account with Capital One -- it works great. It's free, has no minimum, and she has a debit card she uses. I either deposit checks into her account or just transfer from mine.

+1 The Capital One Teen Money account is great.

We did this through our bank. No fees

Any bank will do this with your permission. Just use the bank that you currently have.

My kid has a Truist debit card. It’s worked fine for Venmo.

We just found out about Apple Cash for teens!

MY DD has a kid account with Capital One -- it works great. It's free, has no minimum, and she has a debit card she uses. I either deposit checks into her account or just transfer from mine.

I would like to set up a debit card/checking account for my tween that allows me to auto-fund her allowance (I never have cash) and lets her accept digital payment for petsitting, watering plants, and eventually babysitting without it needing to go through my Venmo or Zelle but not requiring a smartphone on her end. I think Greenlight does this but it’s $$. Are there cheaper or free alternatives that you recommend?