Getting money to my teen

[kristenk]

I’m looking for a way to get money to DD without just giving her cash. There are a few events coming up where she’ll need to have a lot of money with her but I don’t necessarily want her to carry cash around. I’d also like for her to pay for certain purchases when I’m not with her and be able to pay her back.

Our bank doesn’t allow kids her age (15) to have a checking account with debit card. What is the best way to get DD a card she can use for purchases and I can easily add money to? I’m open to opening an account at another bank if that’s what makes the most sense. I’m just not sure what my options are and I’m sure someone has experienced this same quandary.


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[KpbS]

A friend recommended this credit/debit card for teens--

It's like a refillable credit (or debit) card for your kids. I control how much goes on the cards and I can also control where they spend their money. I see every transaction they make. Best (to me) is that if they lose it. I can replace it without losing the money on the card. Costs a $5 monthly fee, which to me is totally worth it.
https://www.greenlightcard.com/textme.html?fbclid=IwAR3rwxRttsGpvo-fNlGDkyg_tVrWJHVinXmQNiYglmjdaCLgyaGG4y7P-1I&_branch_match_id=592896548395780028

[HannaAddict]

I’m looking for a way to get money to DD without just giving her cash. There are a few events coming up where she’ll need to have a lot of money with her but I don’t necessarily want her to carry cash around. I’d also like for her to pay for certain purchases when I’m not with her and be able to pay her back.

Our bank doesn’t allow kids her age (15) to have a checking account with debit card. What is the best way to get DD a card she can use for purchases and I can easily add money to? I’m open to opening an account at another bank if that’s what makes the most sense. I’m just not sure what my options are and I’m sure someone has experienced this same quandary.


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Debit card connected to savings account or change banks. When I opened savings accounts at a local bank for the kids, they balked at debit cards too and I said then let’s just close the accounts now and lo and behold it was okay to have debit cards. There is no law saying you can’t. My tween and teen use ApplePay for many purchases, very widely used in our part of the country.


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[bnme]

Chase Highschool Checking. No fees, atm card. Parent must have account.

[o_mom]

Get a new bank.

We use Chase, which allows a checking account with debit card at 13. Our CU starts at age 15.

[MMMommy]

My 15 year old has a teen checking account with debit/ATM card at Wells Fargo. So like PPs said, other banks may be an option.

[chlobo]

Do you folks worry about a debit card getting stolen and money taken from the account? that is my worry about my teen having a debit card.

[georgiegirl]

Do you folks worry about a debit card getting stolen and money taken from the account? that is my worry about my teen having a debit card.

Wells Fargo limits daily purchases to $500, so at least damage can be limited.

We just dd (13) a teen checking account at Wells Fargo. It’s linked to mine so I can directly deposit any allowance money

[mom2khj]

We've done teen accounts at Wells Fargo and Bank of America. We just needed an ID (school ID worked for us).

Am considering something like the reloadable card posted above for DD2 (just 13) but am worried about her keeping track of it. She's lost two season passes to our water park in the last 5 weeks. :|

[BunnyBee]

Do you folks worry about a debit card getting stolen and money taken from the account? that is my worry about my teen having a debit card.

The one my teen has from Chase is a Visa debit card, so you get Visa protections too. We keep $100 in there and transfer as necessary. We do the same for our debit card. It’s a secondary account connected to our main checking account. We keep more in ours, but if someone stole the card number, they wouldn’t wipe out our liquid funds while we were waiting on a resolution. I think she is buying an Apple Watch from summer job money and wants to use Apple Pay on it.

[kristenk]

I think it might be time for a new bank - at least for this. I like the idea of the refillable/reloadable green light card but I would hate paying $5/month if I could find another way to do that. Now that Dd is getting older, I think her allowance is going to increase and I’m going to have her pay for things out of it that I would normally just purchase for her. I’ll look into Chase and Wells-Fargo. I read somewhere that Capital One also has an account that would work for teens.

The bank we use now is local and I love that about them, but it’s annoying that she can just have a savings account and no debit card through them.


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[erosenst]

Just to pile on - DD(15) also has a Chase account. Having said that - we usually give her one of our credit cards if she's going somewhere she may need money. I like the 'in case of emergency' feature that it's not limited funds. Having said that - she totally knows what is and isn't allowable to buy, will check before buying something that's 'iffy', etc.

We view it as good practice for when it's her own money, but I know a lot are concerned about the theoretically 'free reign' aspect of giving a teen a parent's card.

[JBaxter]

DS3 has a wells fargo savings w/ debit card he's 15

[SnuggleBuggles]

Do you folks worry about a debit card getting stolen and money taken from the account? that is my worry about my teen having a debit card.

No. No more than my card getting misplaced.

Mine has a debit card from his teen account at our credit union. He also has Apple Pay on his phone.

[ahisma]

A friend recommended this credit/debit card for teens--

It's like a refillable credit (or debit) card for your kids. I control how much goes on the cards and I can also control where they spend their money. I see every transaction they make. Best (to me) is that if they lose it. I can replace it without losing the money on the card. Costs a $5 monthly fee, which to me is totally worth it.
https://www.greenlightcard.com/textme.html?fbclid=IwAR3rwxRttsGpvo-fNlGDkyg_tVrWJHVinXmQNiYglmjdaCLgyaGG4y7P-1I&_branch_match_id=592896548395780028

We have this and love it. I was hesitant about the fee, but the convenience of being able to add money when needed has been totally worth it. Example: DS1 has a friend whose parents often wind up taking them out to dinner. It's easy for me to add money so DS1 can pay his own way or treat them to ice cream afterwards or something. I've done it in one click from a meeting before - makes things so much easier. I've also texted him shopping lists and sent him to the store. I add money, he can automatically return the extra (and even add a pic of the receipt if I wanted).

[Zansu]

Both of my boys got debit cards and checking accounts at Wells Fargo when they turned 13. I get a text whenever the cards get used.

[123LuckyMom]

You can also just get her a second credit card on any of your credit card accounts. Charges will be under her name but on your statement. This is what I would do in your situation. Of course you heed to trust your teen not to make outrageous purchases since the only limit would be your actual credit card limit, but if the card were stolen, you would dispute the charges, and it would be fine. This is only a good solution if you pay off your whole balance each month, of course, but that’s what we do. I actually have a credit card on my mother’s account as an adult just so I can make purchases and set up automatic payments for her on a card in my own name. She receives and pays the bill, though. It works great!


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[gymnbomb]

You can also just get her a second credit card on any of your credit card accounts. Charges will be under her name but on your statement. This is what I would do in your situation. Of course you heed to trust your teen not to make outrageous purchases since the only limit would be your actual credit card limit, but if the card were stolen, you would dispute the charges, and it would be fine. This is only a good solution if you pay off your whole balance each month, of course, but that’s what we do. I actually have a credit card on my mother’s account as an adult just so I can make purchases and set up automatic payments for her on a card in my own name. She receives and pays the bill, though. It works great!


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Agreed, I think I was about 16 when I got a card in my parents account, and 20 years later I still have it because I always used it responsibly and it is sometimes convenient for them than I have it.


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[elbenn]

A friend of mine raves about greenlight card. I see someone already linked to it.

[essnce629]

A friend recommended this credit/debit card for teens--

It's like a refillable credit (or debit) card for your kids. I control how much goes on the cards and I can also control where they spend their money. I see every transaction they make. Best (to me) is that if they lose it. I can replace it without losing the money on the card. Costs a $5 monthly fee, which to me is totally worth it.
https://www.greenlightcard.com/textme.html?fbclid=IwAR3rwxRttsGpvo-fNlGDkyg_tVrWJHVinXmQNiYglmjdaCLgyaGG4y7P-1I&_branch_match_id=592896548395780028My 15 year old DS1 has a Current Debit Card which is similar to Greenlight. It has a fee as well but I think it's an annual $30 fee, which is way less than Greenlight. I also get notifications with every purchase DS makes, I can block him from using his card at certain websites/stores, I can freeze his card, set limits, transfer money instantly, etc. His weekly allowance is transferred in to his account and his monthly cell phone bill is deducted as well. He's had no problems using it online or in person.

https://current.com/

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