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Kids debit cards

A debit card or prepaid card can help your kids understand money, learn responsibility and spend their pocket money on things they really want.

Name Monthly fee Govt. Guarantee Own network ATM fee Card type
Suncorp Everyday Options Account
Apple Pay Google Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
Up Everyday Account
Apple Pay Google Pay Samsung Pay Fitbit Pay Garmin Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
Go to siteMore Info
MyState Bank Glide Account
Apple Pay Google Pay Samsung Pay Fitbit Pay Garmin Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
Bendigo Bank Everyday Account
Apple Pay Google Pay Samsung Pay Fitbit Pay Garmin Pay
Monthly fee
$6
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
More Info
Virgin Money Go Account
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
Earn Virgin Money Points as you spend with your debit card
Commonwealth Bank Smart Access
Apple Pay Google Pay Samsung Pay Fitbit Pay Garmin Pay
Monthly fee
$4
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
More Info
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What is a kids debit card?

Kids debit cards are offered by some banks as an optional extra when establishing a kids, youth or teen transaction account. As with regular debit cards, these cards can be linked directly to a transaction account and used in place of cash to make purchases in stores, or to withdraw money from ATMs.

These debit cards are usually linked to a transaction account; either the standard kids transaction account offered by the bank or a dedicated youth transaction account. Most banks waive the monthly account keeping fees for customers under the age of 18 or even 21.

What is a kids savings account?

A kids savings account is very similar to a regular savings account for adults. It's an account designed for under 18s that offers interest on your balance each month, as an incentive to save. A kids savings account can help you encourage your kids to save their money and teach them good saving habits from a young age.

Some kids savings accounts can be opened from birth, while others may have a minimum age requirement of 5, 6 or even 12. Usually if your child is under 12 the account will need to be opened in Trust for them.

What is a kids prepaid card?

Instead of a bank account and attached debit card, there's also the option of giving your child a prepaid card. This could be a good option for younger kids in particular, who don't need a bank account in their name just yet. A prepaid card still allows them to make purchases in stores and withdraw from ATMs, however they can only access the money that's been pre-loaded onto the card for them to spend.

The following kids prepaid cards are a great way to give your children access to money while they learn how to properly manage digital money via the interactive mobile apps.

Kit: Kids prepaid card and money app

$3 per month
Membership fee
$0
ATM withdrawal fees
Visa
prepaid card

Card
Kit offers a prepaid Visa card and app for kids aged 5–14 so they can learn how to manage their pocket money and develop good money habits.
  • Set spending controls and limits from your parent account
  • Receive physical and digital prepaid Visa cards
  • Set jobs and pay pocket money with interactive in-app tools
  • Membership fees from $3/month for 1 child, or $5/month for 2+ children
Rewards program N/A
Annual Fee $0
Purchase Rate
Welcome offer
Interest-free period Up to days on purchases
Balance transfer N/A
Bonus points N/A
Rewards points per $ spent N/A
Foreign currency conversion fee

Spriggy

$5 per month
Membership fee

ATM withdrawal fees
Visa
prepaid card

Card
Spriggy is a mobile app with a linked prepaid card which helps Australian parents and their kids to manage their money together and track their progress in a fun, interactive app.
  • 30-day free trial available
  • Customised prepaid debit card
  • Safe and convenient
  • 3.5% surcharge for international purchases
  • Membership fee charged as annual lump sum payment
  • Can not withdraw cash from ATM
Rewards program N/A
Annual Fee $0
Purchase Rate
Welcome offer
Interest-free period Up to days on purchases
Balance transfer N/A
Bonus points N/A
Rewards points per $ spent N/A
Foreign currency conversion fee

How to compare kids debit cards

Check the fees.

The costs can vary between cards and banks. Most major banks offer fee-free services for kids cards, and it's likely that the most common fees you'll encounter are from using other-brand ATMs or if you're planning to use the card overseas.

Spending limits and overdraft.

Look for cards that let you cap daily spending, and allow or disallow overdraft as desired to make sure the card is used sensibly. Some banks will offer more of these spending limit features than others.

Shopping online.

Consider whether being able to buy online is a benefit or a downside, and opt for a kids debit card that can restrict or block online spending if needed.

A good mobile banking app.

Having a great mobile banking app is really helpful to keep an eye on spending and see where your money is going. Some mobile banking apps offers helpful tools like spending categorisation charts and savings goal trackers, which can be helpful for kids learning how to manage their money.

What features do kids debit cards have?

  • Spending controls. Many kids debit cards come with spending control limits that parents can set within their mobile banking app, to restrict how much their child can spend.
  • Card lock. Parents can also lock the debit card via the mobile banking app or using Internet banking, if the card gets lost or you want to temporarily disable it.
  • Choose how your child can spend. Parents can choose if the card can be used at ATMs or for in-store purchases.
  • Spending tracking tools. Many mobile banking apps offer spending tracking tools and features to help your child learn how to manage their money.

Pros and cons of kids debit cards

Pros

  • Control. Keep track of your child's spending online and cap the daily limit as you see fit.
  • Security. You can monitor your child's spending in the mobile banking app, and quickly alert the bank if you notice any suspicious transactions.
  • Safety. Because you can quickly and easily lock the debit card if it's misplaced, debit cards are often safer than carrying cash.
  • Good practice. Using a debit card will teach your child how money works digitally.

Cons

  • Age limits apply. The majority of Visa Debit cards can't be used by people under 14 years of age.
  • Less choice. Not every bank offers kids debit cards or kids bank accounts.

FAQs about kids debit cards

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