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You've heard of prepaid cards? But have you heard of prepaid debit cards for teens? We've researched and gathered the best prepaid options available for parents and teens today.

I can still remember my first ATM card. I was a teenager in high school when ATM and debit cards first arrived on the scene. I had a passbook savings account with our local bank, and they issued a debit card that I could use to make deposits and withdrawals. Taking money out of my account when the bank was closed was nothing short of amazing (oh, simpler times). However, my ATM card of the 1980s was a lot different than the debit and prepaid credit cards available for teens today.

The most important difference was that it was not part of either the Visa or MasterCard® debit network. When these cards first came out, they could only be used at a bank automatic teller machine. I couldn’t use the card at a store. Of course, there was also no internet, so I couldn’t check my account online either.

On top of that, the debit card couldn’t be used at all ATM machines. You had to make sure that the ATM was on the same network as your bank, or the card wouldn’t work. As exciting as this new piece of plastic was at the time, its capability was fairly limited.

With the advent of the internet, as well as the Visa and MasterCard® debit networks, a whole new generation of financial products was born. More recently, companies have begun using these tools to market debit and prepaid cards — as well as other financial products — to teens, too.

Our Top Pick for Best Prepaid Cards for Teens: Current Visa Debit Card

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When it comes to teen spending and prepaid cards, Current is leading the pack.   The user interface and customer service the company provides are excellent and the real selling point of the debit card is it’s simple fee structure.  There is a $36 annual fee to own the card for each teen and that’s it.

No monthly maintenance fees, statement fees, or activation fees.  In fact, the only other times Current will charge you a fee is when you use the debit card to make international purchases (3% exchange fee), you need a card replacement ($5), or you request a paper statement ($2).

Parents have the ability to monitor and block purchases from any merchant they choose; so if your teen is spending too much money on his Xbox subscription, away that can go.  Any family member can connect their bank account and transfer money into the current account, free of charge.  You can also set limits to spending if you so desire.

Current has also started to roll out mobile check deposits so your teen can deposit their paycheck directly into their Current account.  All together, the Current Visa Debit Card is a safe, easy and affordable way teach your teens financial responsibility, while also keeping an eye on them.

Read More: Current review the full Current debit card review

Our Runner Up for Best Prepaid Card for Teens: FamZoo Prepaid MasterCard

For families looking to help their teenagers manage money, this is a great prepaid option. I’ve personally met the founder of FamZoo, and this card is built from the ground up with teens and families in mind.

With the FamZoo Prepaid MasterCard, parents, and teens get a card. Parents have complete visibility into all transactions, and can even download their app for quick reference. Parents can also immediately transfer funds between cards, which is ideal for allowance or other incentives.

Finally, the cost is very reasonable. A family of four can have cards for each family member for as little as $0.63 per card per month.

Read More: FamZoo Review

What’s Special About a Prepaid Card for Teenagers?

Nothing. Prepaid debit cards are prepaid debit cards. Those marketed specifically to teens, college students, or families work exactly the same way as other prepaid cards.

So, why bother with these “teenager” cards? Well, some prepaid card companies add extra features that can be enticing to parents. The primary special feature enables parents to track and monitor how their teenagers are using the card. This might be ideal for your 13-year-old, but totally unnecessary for your college sophomore. Regardless, it’s a common feature among the prepaid cards that are specifically marketed to teens.

For older and adult children, it can be a better idea to add them as an authorized user to your high-earning rewards credit card. Many Chase cards allow this. Read our reviews of the best travel and cash back cards for more information.

Related: Best Bitcoin Debit Cards

A second feature is the ability to get multiple cards on the same account, which enables parents to transfer funds to the child’s card. This feature, however, is available with many prepaid offers out there, not just those aimed at young adults.

The point is that for many families, a standard prepaid card has all the features that a teenager or college student needs. If that’s the case, the key determining factor will be the cost. For that reason, I’ve included some low-cost options below. They are specifically marketed to young people, but they could be perfect for whatever you may need.

Best Prepaid Cards for Teens and College Students

American Express Serve


This card comes with options, one of which includes earning rewards on your teen’s purchases (just like mom and dad’s cash back credit card!).

The American Express Serve comes in three flavors. All three come with:

  • Free Early Direct Deposit
  • Free online bill pay
  • Free money management tools
  • Free cash withdrawals at over 24,000 MoneyPass® ATM locations
  • 24/7 customer service
  • Free card replacement

The basic American Express Serve card has no monthly fee if you direct deposit at least $500 into the account each month (otherwise, the fee is a mere $1/mo). Cash reloads start at $3.95, depending on the retailer, though it’s always free to add funds from a bank account.

If you see yourself making reload deposits at retail locations, those fees will add up — so you should consider the next tier card, the Serve® FREE Reloads card. The monthly fee for this version is $4.95, but includes complimentary cash reloads at over 45,000 locations, including CVS, Walmart, and Rite Aid.

The really exciting part of this card series is its third flavor, the American Express Serve® Cash Back card. The monthly fee for this version is $5.95, but it includes an unlimited 1% cash back on all purchases. While this isn’t the wonderful 5%+ cash back that many of us look for in a credit card, it’s still a great perk to have in a prepaid card (especially one for a teen).

TD Go Reloadable Prepaid Visa Card

For those looking for an option tied to a traditional bank, the TD Go Visa is a reasonable choice. The card offers the following features for parents:

  • It’s a safe, easy, and convenient way for your teen to make purchases wherever Visa is accepted, complete with chip technology for fraud protection.
  • You can monitor your teen’s spending online, plus you can set up email and text alerts that notify you about the card’s remaining balance and other account information.
  • You can track all of your teen’s spending in real time.
  • Easily load funds and check the card balance at anytime, either online, or over the phone.
  • Your teen can add the card to Apple Pay™ for more ways to pay.

BB&T LEAP® Account Card

The next card on our list is another option from a traditional bank: the Teen Prepaid Debit Card, also called the LEAP® Account Card, from BB&T. It too offers parental controls for a reasonable price — $3 a month. If you live near a BB&T, withdrawals at their branch ATMs are free. It also offers online bill payment and text alerts. In addition, there are a few other perks, such as:leap-account

  • 24-hour roadside dispatch
  • Travel and emergency assistance
  • Purchase security for eligible items
  • No overdraft fees (the card is unable to be overdrawn)
  • Transfer between BB&T accounts, easily enroll in direct deposit and deposit funds quickly at any BB&T branch location
  • Free online e-statements and one free monthly paper statement (subsequent paper statements are $3/mo.)

The card does have a $3 monthly maintenance fee, which may be a deterrent for some. However, if you’re a parent with a BB&T account, it may be very convenient to have your child’s card within the same network, able to accept quick and easy transfers. Plus, as mentioned, ATM withdrawals from BB&T machines are free, and ATM withdrawals from machines outside of their network are $2.50 (plus any fees incurred by the outside machine’s operator).


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CARD.com can also be an excellent choice for these reasons:

  • No hidden fees, which can save you money
  • Access to 32,000+ fee-free MoneyPass ATMs
  • Easy to load funds
  • An app for viewing account details such as current balance and recent transactions
  • Ability to use it anywhere Mastercard or Visa debit cards are accepted

Alternative Option

Petal 1

For those looking for a technologically driven, unique credit card experience, the Petal 1 Visa credit card—issued by WebBank, Member FDIC— is a good place to start. Rather than focus solely on credit history and credit score, Petal 1 approval is based on a Cash Score, which takes into consideration your banking history.

Top features of the Petal 1 credit card include:

  • No annual fee
  • Credit limit between $500 and $5,000
  • Variable interest rate ranging from 19.99% – 29.49%
  • Between 2% to 10% cash back at select merchants
  • No international fees

Read more: Petal 1 Credit Card Review

Are Teen Debit Cards a Good Idea?

My question is whether these new financial products are making teenagers more responsible with money or less responsible. My concern with these products is that their focus is on spending money, not saving or investing money. I’d like your take on this question, particularly if you’ve used any of these tools.

In the press, reviews of the teenager-focused financial products have been mixed.

Liz Pulliam Weston at MSN believes teen debit cards can teach children to be financially responsible. Because these cards are not credit cards, there is no risk of spending over their limits, interest charges, or a negative impact on a teenager’s credit history. Liz also points out the benefit of parents being able to easily monitor how their children are spending their money.

Taking a less sanguine view of debit cards for teens, Janet Bodnar over at Kiplinger’s believes debit cards serve only to prime our children for a life of credit and debt. As Janet explains, “These cards aren’t credit cards, but young people don’t draw a distinction. To them, any plastic is magic money that’s meant to be topped up by Mom and Dad when it runs out.” She also points to the fees associated with these cards.

So, what’s your take? Do these teen-focused financial products teach our children sound money management, or set them up for a life of living beyond their means?

Related: Top Savings Accounts Designed for Children

Author Bio

Total Articles: 1074
Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.

Article comments

Ileana says:

My daughter is 16 and will be studying in europe and the UK this summer. Any advise for the best prepaid card with no foreign transaction fees?

Kristen says:

I am a firm believer in giving children their own finances to control early on. I know that many parents don’t believe in giving children an allowance, but for us this is how they are taught how to handle money.

As a child, I received an allowance (a dollar or two every week). It was just a bit of money to spend on whatever I wanted. I could save it or spend it, but if I came up asking for a Barbie outside of a gift giving holiday – well, I surely wished I’d saved my allowance! I never had a penny of it.

Initially, I gave my children PayPal Teen cards for a school trip. I didn’t want them carrying cash in their pockets. Eventually, I started putting their allowance on it – $5 a week. Lo and behold, that $5 a week grew faster than I could have imagined. They liked seeing their money grow. They didn’t waste it on junk; they didn’t spend it on ice cream at school; it didn’t end up in the washing machine and back in my pocket. They also put any money they get for birthdays in their accounts. We eventually switched to Capital One teen accounts. I’ve found they give the kid’s some freedom while still allowing me to monitor it closely on the sidelines. NO FEES, and they earn a little interest.

I now have an 18 year old who is in working while in college who has over two grand at all times. He has been responsible for his own money since he was 13. His twin sister doesn’t work – she is given an allowance for the *substantial* help she gives us with her younger three siblings, and around the house. She is also very tight-fisted with her money, and has opened a savings account in addition to her debit account.

Speaking of the younger siblings – the 10 year old has $885 in her account. The 11 year old only has $550, but after seeing what her sister has, she’s beginning to appreciate what saving can do. I do hold on to their cards for them – I feel that they are still a little too young still to just have them at will. This also allows us to discuss what they are going to buy beforehand.

I can’t imagine not teaching my children how to manage money, and the value of a dollar, from an early age. Having a debit account has helped with this far more than just pulling cash out of my wallet when they want something. I am thrilled at how much they like to save money. If “young people don’t draw a distinction”…well, in my experience, that might lie on how the card and money is handled by the parents.

Mom of boys says:

I completely agree. We have taught our boys from a young age the value of saving and what things cost. This is one of the most important thing children should learn. I wish schools had a greater emphasis on this. Thank you for sharing your experience. I think I will get these for my 11 & 13 year olds.

Victoria Wade says:

What card company are you using for the 10 and 11 year old?? is it a savings account? or prepaid??

lisa smith says:

Is there any prepaid card without any fees

J.s. Keener says:

What cards are there w/o fees?

Horace says:

CapitalOne Teen Checking is what people are using.

Sierrabeth says:

Bluebird, Simple, Chime are all NO. FEE debit cards. I love them. ALSO PayPal’s debit card is free and you can now electronically deposit a check there as well as direct deposit to the account. 🙂

Nasser Amilasan says:

Can I apply for prepaid card for my 22 year old student.

Jamil Toney says:

Thanks for You Help

Bob Wilzbach says:

should clarify the TD card is only available in select states (not Ohio)

RouX says:

Hi. Yes TD is only available in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Texas, Vermont, Virginia, Washington, and District of Columbia.

Leann says:

It also only available to current customers of TD Bank

Kim says:

and the website is not updated to say you cannot use a TD credit card to fund..yet a TD card is required to fund….

David Kleinman says:

Be wary of the American Express Serve cards. Unfortunately you cannot put them in your child’s name unless they are 18 years old. Sort of a bummer.

Bill Dwight says:

Thank you for the very nice mention, Rob. You say: “My concern with these products is that their focus is on spending money.” That actually points out the big difference between our card offering and most: we have numerous features that actually discourage excessive spending. To name just a few: automated parent-paid interest to encourage saving (it’s like a reward program for NOT spending), real-time text messages for card activity that always include the remaining balance (a very simple but very effective budgeting tool), auto splitting of “income” between spend/save/give cards to encourage purpose-driven bucketing of funds, auto family billing to share expenses with kids (like their share of the cell phone plan so they don’t thing family plans paid by mom & dad are free), integrated odd-job charts so parents can offer more earning opportunities, and much more. You’ll find the details on our card FAQs page – or just contact us on social media or via our contact form on the site. If you’re looking to give your child a financial education instead of just forking over money willy nilly, we hope you’ll take a look at FamZoo.

Bill Dwight, CEO FamZoo (founded the company in 2006 after realizing our 5 kids wouldn’t be learning practical personal finance skills in school)

Adriana @MoneyJourney says:

I think the sooner teens start learning about money, the better. And using a card, whether it’s prepaid, debit or credit, is part of being an adult. The sooner they learn how easy it is to spend your allowance, the sooner they understand money don’t grow on trees 🙂

Alexa Junkin says:

My daughter has a trip coming and they have to have over 200 dollars on hand. For eating and shopping at a mall. I would like to buy a prepaid card for her that i can have access to upload her money if she ran out of money. The only problem is that there is a charge when she will purchase something. Is there a card that will not charge her when she uses it? if so let me know i would like to get this for her!
Thank you,

Noel says:

I use the Current card for mine. No charge to upload funds on to the card (and it’s immediate) although there is a small monthly fee…super easy to use! This link is an invite from my account and will give you $5.

Nattlie Ringer says:

I will be employing between 150-200 youth for summer program in 2011. I would like to issue debit cards vs checks. Do you offer a service for bulk debit cards? The cards will be reloaded each pay period. I am not interested in the youth applying for the cards individually. I will have all of their information and would like to have all the paperwork done by my staff. Please advise.

Nattlie Ringer, CEO

mxguise says:

This does help kids learn about using credit cards. They are able to shop online but have to wait for their parent’s approval and parents can give their children conditions for the purchase. It will be something they are used too when they eventually get their own credit card.

Craig says:

This is where parents and school needs to step in and educate teens. Teens need to learn the basics so on their own they can succeed with these incentives and cards.