Getting a debit card for your child will give you peace of mind that they can access money if they need it when you're not around. Plus, when linked to savings account a kids debit card is a great way to teach your child good savings habits from a young age. Kids debit cards are offered by many banks, and can easily be applied for for free online in a matter of minutes.
This guide will outline the different options available depending on your child's age and the purpose of the debit card, and allow you to compare some debit cards for kids.
Kids Bank Account Offer
NAB Classic Banking
Kids Bank Account Offer
Enjoy convenient, unlimited access to your money.$0 monthly account fee.
Tap and pay with your NAB Visa Debit card or your phone using Apple Pay, Google Pay, Samsung Pay or NAB Pay for Android. Temporarily block your card at the touch of a button if you lose it.
Looking for a prepaid card for your kid's pocket money?
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 per year for each child
Pre-paid Visa debit card accepted anywhere
Cards come in a range of funky, kid-friendly designs
Keep tabs on your child's spending, saving and chores via the Parent Wallet
Try the app for free for 30 days. Sign up online in 2 minutes or less by clicking the "Go to site" button.
Looking for a prepaid card for your kid's pocket money?
Kids debit card offer
Spriggy
$2.50
Monthly Fee
Kids debit card offer
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.
$30 per year for each child
Pre-paid Visa debit card accepted anywhere
Cards come in a range of funky, kid-friendly designs
Keep tabs on your child's spending, saving and chores via the Parent Wallet
Kids debit cards are offered by most 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 transactions account; either the standard transaction account offered by the bank or a dedicated youth transaction account. Most bank waive the monthly account keeping fees for customers under the age of 18 or even 21.
At what age can my child get a debit card?
Your child typically needs to be 14 years old to get their own Visa Debit card, and 16 to get their own Debit Mastercard. However, some banks offer debit card access for children as young as 9 years old. Some banks also offer their own type of debit cards. These work in a similar way to standard debit cards, however have a few more restrictions when using the card outside of Australia.
The below table shows some popular everyday bank account and the age requirements to meet in order to access the linked debit card.
16 years old (Debit Mastercard) 12 years old (Handycard)
12 years olds can open the account in their own name online. Handycards are very similar to debit cards when in Austrralia, however can only be used to withdraw cash overseas.
16 years old (Debit Mastercard) 12 years old (Easy Money Card)
12 years olds can open the account in their own name online. Easy Money Cards are very similar to debit cards when in Australia, however can only be used to withdraw cash overseas.
Features of a kids debit card
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.
Here's what to consider before giving your child a debit card.
Check the fees. The costs can vary between cards and banks. Most major banks offer fee-free services for kid's cards, and it's likely that the most common fees you'll encounter are from using other-brand ATMs. Look for banks with a large ATM network in your area to get more freedom from fees.
Spending limits and overdraft. Look for cards that let you cap daily spending, 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.
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.
Did you have these questions about debit cards?
This is completely up to you and your individual experience. You might consider giving your child a debit card when:
They start going out for social activities without you present (e.g. going to the movies with friends)
When they start high school, or if they have a long distance to travel to and from school on the bus or train (a debit card will be handy if there are delays or the bus breaks down, for example).
They start wanting or needing to buy things when you're not with them
Keep in mind there are age restrictions on debit cards for kids, with kids under nine years old generally not able to access the card.
You can now track transactions online for directly-linked debit cards. Many prepaid cards from major outlets (including Mastercard and Visa) will now also allow you to register your card online for tracking purposes. Most banks will default to digital transcripts, however you should contact your own banking institution to inquire about a hard copy transcript if required.
Fraudulent transactions, including those where a thief stole and used the card or where the seller didn't deliver what they promised, can often be reversed by contacting the bank.
You can't request that your bank reverse a transaction unless you can prove the transaction was fraudulent. You can, however, keep an eye on your child's spending via the mobile banking app, and some accounts allow you to set spending limits to reduce your child's spending.
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
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