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Is It Too Early to Get My Child A Debit Card?


Busy Kid Debit CardKids get introduced to the value of a dollar with cash, but as online shopping and cashless payment methods become more prevalent, giving children their allowance money in cash won’t cut it anymore.

For many parents and their children, a BusyKid Visa® debit card for kids is the more convenient way to go.

But while the idea of a kids’ debit card appeals to you, you’re probably thinking, “Is it the right time to give your child a debit card?”

Read on to find out.

What’s the Right Age for A Debit Card?

Children grow and mature at different paces, which means their ability to handle money responsibly can also vary. Some kids may be ready to have their own debit card as early as elementary school, while others may not be until high school. There’s really no one-size-fits-all answer to this question.

Most parents find 12 years old to be a good time to begin giving their children access to a debit card. This is because at this age, children are becoming more interested in how money works, managing their own bank accounts, saving for their wants, and the adult process of paying for purchases.

In the end, whether a kid should be allowed to carry a debit card or not comes down to the parents’ judgement. If you do decide to give your children the privilege of having their own debit card, though, make sure to be ready to devote the time necessary to guide them and monitor their spending habits.

Debit Card for Kids: What Are My Options?

As parents, you generally have two options when it comes to giving your kids access to a debit card. You can either open them their own savings or checking account, or consider getting them a prepaid debit card.

Banks and financial institutions often limit kids 12 years old and under to a savings account and ATM card, while teenagers are allowed checking accounts with debit cards that they can use to directly pay for things.

Many parents opt to give their children prepaid cards instead of debit cards. Prepaid cards function just like debit cards, but they are not tied to a bank account. You need to add money to the card in order to continue using it.

Your kids can start with a prepaid card and then later upgrade to a checking account + debit card when they’re older and more financially responsible.

Whether your child is 5 or 16, the BusyKid VISA® Prepaid Spend Debit Card provides a level of ease to spend allowance in a way that is safe and convenient.

Reasons to Give Your Kids A Debit Card


Kid right age for debit card Are you still deliberating whether or not letting your kids carry their own BusyKid debit card is a good idea?

Here are three good reasons why you should:

Financial Literacy

As the world becomes increasingly cashless, debit cards for kids can provide an educational opportunity.  This opens the door to begin teaching your children about good money habits and making wise financial choices.

One excellent way to teach children the value of a dollar is by linking their debit card to a kids chore app, and then paying them for every task that they successfully complete.

When children have to work for their allowance, they tend to become more cautious about what they spend it on. Seeing the money in their bank account grow can also inspire them to delay gratification for long-term goals and take on more chores to increase their savings.

Safer than Cash

Both cash and debit cards are prone to getting lost or stolen, but once you lose cash, it’s usually gone for good. If your child loses his or her debit card, though, you can easily freeze the card and ask the bank for a new one.

Another advantage to giving your child a debit card instead of cash is that you can effortlessly monitor their spending. By accessing the account statement, you will have a comprehensive rundown of all the things your kids bought with their debit card. Should you notice something wrong with their spending pattern, you can stop it before it becomes a habit.

Prevent Overdraft

Kids nowadays know how to make purchases online. While it’s okay to let children use your credit card, you could end up with a huge bill if you don’t monitor it closely.

With a BusyKid debit card you won’t have to worry about getting surprised with an enormous bill at the end of the month because your kids won’t be able to spend more than the amount of money they have on their account.

Teach Children About Money While They’re Young

Good money management skills and financial responsibility are two of the most valuable lessons that you can impart to your kids. Allowing them to manage their own debit card during their early years can dramatically increase their chances of forming good money habits – habits that will greatly benefit them when they’re older.

Start them young! Make Your Kid A Card-Carrying BusyKid today!

Download the BusyKid App here.