Kid Debit Card Accounts

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Kid debit card accounts. But unlike an adult current account children s accounts don t offer overdrafts which means your child can t borrow money and they won t be charged any fees or interest. Children s bank accounts come with an optional debit card instead of which you could choose a cash card. A cash card each bank will call it something different will only allow your child to withdraw money from atms.

Reasons to choose a children s bank account. But rather than a blunt cut off point on their 18th birthday they ll usually be able to use the debit card until it reaches its expiry date and then it won t be renewed. The famzoo prepaid cards were set up for the sole purpose of helping kids learn good money.

If there isn t enough money in the account to cover the direct debit the payment is likely to bounce and there may be a fee involved however it s likely to differ between banks and building societies. It will not allow spending online or in shops. It also has a chore.

Children can also set up direct debits on their account and benefit from services such as mobile banking. Prepaid cards can be available for kids as young as five. If the kids account and debit card you ve signed up to has an age limit of 18 then your child will no longer qualify to use it when they reach adulthood.

Greenlight is a debit card that is made for kids but managed by parents.