Many of us want to help our kids start on the right financial foot, and one of the best ways to do that is to give them their own debit card. You can open a child bank account with a debit card, monitor their spending, and even pay them an allowance using an app.
A survey by The Zebra showed that 1 in 3 young adults say their parents were the biggest influence on their financial habits. By giving your kids the option to learn how to manage their own money, you’re taking the first steps to help them become financially confident in the future.
Comparison: Child Bank Accounts With a Debit Card
| Account | Age Range | Monthly Fee | APY | Debit Card | Best For |
|---|---|---|---|---|---|
| Crew (Best Overall) | 0+ | $0 | ~2.95% | Yes | Families + savings growth |
| Chase First Banking | 6–17 | $0 | None | Yes | Free, in-person banking |
| Capital One MONEY Teen | 8–18 | $0 | ~0.10% | Yes | Older kids & teens |
| Ally Custodial | 0+ | $0 | ~0.10%–0.25% | Yes (parent name) | Simple setup |
| Greenlight | 0+ | $5.99+ | Up to 6% (conditions) | Yes | Parental controls |
| Acorns Early | 6–18 | $8 | None | Yes | Financial education |
| FamZoo | 0+ | $5.99 | None | Yes | Behavior-based learning |
Best Child Bank Accounts With a Debit Card
Crew Family Banking (Best Overall)
- Age range: 0+
- Monthly fee: $0
- Debit card: Yes
Crew is a newer platform built specifically for families who want to manage money together, and it stands out in a few important ways.
First, Crew offers something most kid-focused accounts don’t: a meaningful interest rate on both savings and checking balances. Currently, families can earn around 2.95% APY, which is significantly higher than traditional banks, especially for accounts designed for kids.
That means your child isn’t just learning how to spend and save. They’re also seeing their money grow in a real way.
Crew also makes it easy to create accounts for the whole family, split allowance into spending and saving, automate transfers, and track progress toward goals. Kids get their own debit card and hands-on experience managing money, while parents maintain visibility and control through the app.
If you’re looking for a solution that combines real banking, strong savings potential, and family collaboration, Crew checks a lot of boxes.
Disclosure: Andy Hill (owner of MarriageKidsandMoney.com) has an affiliate relationship with Crew and also holds equity in the company.
Chase First Banking
- Age range: 6–17
- Monthly fee: $0
- Debit card: Yes
Chase First Banking is designed to be a simple, no-fee introduction to banking for kids.
To open one, you’ll need a Chase checking account. Once set up, your child gets their own debit card and access to Chase’s large network of ATMs and branches.
Parents can set spending limits, assign chores, and send allowance. Because there’s no interest earned, this account works best for everyday spending and basic money management.
👉 Open a Chase First Banking Account
Capital One MONEY Teen Account
- Age range: 8–18
- Monthly fee: $0
- Debit card: Yes
Capital One’s MONEY Teen account is designed for older kids, starting around age 8.
It’s a solid option for teens learning to manage money, with no overdraft fees, separate parent and child logins, and built-in spending tools. Because it starts later than some other options, it may not be the best fit for families looking to begin earlier financial education.
👉 Open a Capital One MONEY Teen Account
Ally Custodial Account
- Age range: 0+
- Monthly fee: $0
- Debit card: Yes (parent’s name)
Ally allows parents to open custodial accounts for kids, including checking and savings options.
One thing to note is that Ally does not actively market a “kids checking account,” so setting this up requires a bit more effort on the parent’s side. However, it can still be a flexible and effective option once established.
While the debit card is issued in the parent’s name, kids can use it with guidance. This is best suited for families who want a straightforward banking experience without extra tools or features.
👉 Open an Ally Account
👉 Read our Ally Bank Review
Greenlight
- Age range: 0+
- Monthly fee: $5.99+
- Debit card: Yes
Greenlight is one of the most feature-rich apps available, especially for parents who want more control.
It includes spending controls, savings goals, and real-time notifications. Premium plans also offer safety features like driving reports and location alerts. Greenlight allows kids to earn interest (up to 6% with certain plans), depending on the subscription level.
👉 Try Greenlight
👉 Read our Greenlight Review
Acorns Early
- Age range: 6–18
- Monthly fee: $8
- Debit card: Yes
Acorns Early focuses heavily on financial education, with age-based lessons and incentives for kids to learn.
Parents can reward kids for completing lessons, helping reinforce positive money habits. It’s a strong choice for families who want to pair learning with real-world experience.
👉 Get Started With Acorns Early
👉 Read our Acorns Early Review
FamZoo
- Age range: 0+
- Monthly fee: $5.99
- Debit card: Yes
FamZoo is built around hands-on financial learning, including chore tracking, allowance automation, parent-paid interest, and even family loans.
This makes it ideal for families who want to actively teach financial concepts through real-life scenarios.
👉 Check Out FamZoo
👉 Read our FamZoo Review
BusyKid
- Age range: 0+
- Monthly fee: $4
- Debit card: Yes
BusyKid blends chores, allowance, and financial education into one platform. Kids can earn money through tasks, then choose to save, spend, or donate.
Its focus on giving and financial responsibility makes it a unique option for families who value generosity as part of money management.
Best Debit Cards for Kids by Category
- Best overall: Crew
- Best free option: Chase First Banking
- Best for teens: Capital One MONEY Teen
- Best for parental controls: Greenlight
- Best for education: Acorns Early
- Best for hands-on learning: FamZoo
Reasons To Open a Child Bank Account With a Debit Card
If you’re trying to decide whether to give your child their own debit card, there are several benefits.
Promotes independence
Kids learn how to manage their own money, set goals, and make spending decisions.
Safer than cash
Debit cards can be frozen or replaced. Lost cash cannot.
Builds savings habits
Many apps allow kids to set savings goals and track progress over time.
Allows parental oversight
You can monitor spending, approve purchases, and guide decisions in real time.
If you’re looking for more ways to teach your kids about money, check out our guide on Financial Literacy for Kids.
FAQ: Child Bank Accounts With Debit Cards
What is the best child bank account with a debit card?
It depends on your goals, but Crew stands out for combining family banking with strong savings potential and hands-on learning.
At what age should a child get a debit card?
Many accounts start around age 6, which is a great time to introduce basic money concepts.
Are debit cards for kids safe?
Yes. Most accounts include parental controls, spending limits, and the ability to freeze the card instantly.
Do kids’ accounts earn interest?
Some do, but many offer little to no interest. That’s why options like Crew stand out by offering meaningful APY.
Can kids invest with these accounts?
Most accounts focus on saving and spending first, with limited investing features.
Final Thoughts
As you can see, there are many options when it comes to choosing a child bank account with a debit card. The right choice depends on your goals. Some families prioritize simplicity, while others want built-in education tools or stronger savings features.
If you’re looking for a solution that combines real banking, meaningful interest, and family-focused tools, Crew is a strong place to start.
Disclaimers: Greenlight and Marriage Kids and Money have a Tier I affiliate relationship. Compensation and additional details can be found at https://greenlight.com/affiliates-details
Leave a Reply