If you’re a parent or teen wondering about the age requirements for debit cards, you’re not alone. In this article we’ll answer the question, “How old do you have to be to get a debit card?” and explore different options for kids and teens. There isn't a single straight answer!
How old do you have to be to get a debit card?
For most traditional banks, you need to be 18 years old to get a debit card in your own name. This is because you must be a legal adult to open a checking account which is what a debit card is typically linked to. The age limit is in place to protect minors from financial risks and to comply with legal requirements. But there are other banking solutions, like mobile apps and online banks, who offer joint accounts that allow kids to get a debit card when they're under 18.
Exceptions to the rule: Debit cards for kids under 18
While the standard age requirement for a debit card is 18, there are a few notable exceptions that allow kids and teens under 18 to get a debit card.
- Parent-linked debit cards for teens: Some banks and financial institutions offer debit cards for kids as young as 13, provided that the card is linked to a parent's account. In this arrangement, the parent maintains primary control over the account and can monitor their teen's spending. The teen's access to funds and features may be restricted, and the parent can set spending limits or block certain transactions.
- Family banking solutions like Till Financial: Another option for kids under 18 is to use family banking solutions, such as Till Financial. These platforms are specifically designed to help parents teach their children about money management and provide them with hands-on experience using a debit card. They usually offer a more robust set of financial tools and features that are built for kids.
With Till Financial, parents can issue a debit card to their kids, regardless of age, making them authorized users of the parent's account. This allows kids to have their own debit card while still being under the supervision of their parents.
Using the Till app, parents can:
- Instantly transfer money to their kids' debit cards
- Set up recurring allowances or one-time payments
- Gain full insights into their kids' spending habits
- Lock or unlock the debit card as needed
- Contribute money to savings goals
By using a family banking solution like Till Financial, kids under 18 can learn valuable money management skills, such as budgeting, saving, and responsible spending, all while being monitored and guided by their parents. This hands-on experience helps prepare kids for future financial independence and teaches them the importance of making smart financial decisions from a young age.
When should a kid get a debit card?
Deciding when a kid should get a debit card depends on several factors, including the kids maturity level, spending habits, and financial knowledge. Many parents start considering a kids debit card when their child is around 10-13 years old, a time when they begin managing their own money that they receive through chores, allowances, gifts, and more. Other families may wait until their kids are closer to 16-17.
Debit card for kids: Why Till is different
While traditional banks often restrict card access to people under 18, Till Financial offers a debit card specifically designed for kids, teens, and families, with no minimum age requirement. With Till, parents can open an account and then issue debit cards to their kids. Parents and kids can manage the kids finances using the Till app, giving kids hands-on experience with money management.
Benefits of a kids debit card
Providing your child with a debit card can offer a number of advantages:
- Teach financial responsibility and money management skills
- Give kids a sense of independence and ownership over their own spending and saving
- Help kids learn how to budget and save for goals
- Provide a safer and more efficient alternative to carrying cash
- Parents can easily pause or block a debit card for any reason
- Enable parents to monitor and guide their kids financial decisions
- Prepare kids for the future by familiarizing them with digital payment methods like Apple Pay and Google Pay
Till Financial: A comprehensive family-banking solution
Till Financial stands out as a top choice for parents who are seeking a kid-friendly debit card and app. With no minimum age requirement, parental controls and transparency, and a focus on financial education, Till empowers kids to learn money management skills while giving parents peace of mind.
The Bottom line
While the typical minimum age for a debit card is 18, there are options available for kids and teens under 18. Some banks allow minors as young as 13 to have a debit card linked to a parent’s account, while family banking solutions like Till Financial provide debit cards for kids of any age. If you’re considering a debit card for your kid, Till Financial is an excellent option.
