Choosing the best debit card for kids depends on various factors such as features, fees, parental controls, and educational components. Here are some popular options:
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Greenlight: Greenlight is a popular choice for parents looking for a debit card for kids. It offers parental controls such as spending limits, real-time notifications, and the ability to allocate funds for specific purposes like allowance or savings.
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FamZoo: FamZoo is another well-regarded option that provides prepaid cards for kids. Parents can automate allowances, set up savings goals, and teach financial literacy through its educational features.
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GoHenry: GoHenry offers a debit card and app designed for kids aged 6 to 18. Parents can set spending limits, chores, and savings goals, and kids can track their spending and savings through the app.
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BusyKid: BusyKid is an allowance and chore tracking app that comes with a prepaid debit card. It allows parents to assign chores, pay allowances, and automate savings contributions. Kids can use the card to spend their earnings and learn about financial responsibility.
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Current: Current offers a debit card designed for teens with parental controls such as spending limits, transaction notifications, and the ability to block certain merchants. It also provides tools to help teens learn about managing money.
Before choosing a debit card for your child, consider factors such as fees, ease of use, security features, and the availability of educational resources. It's also a good idea to involve your child in the decision-making process and educate them about responsible spending and saving habits.
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