APY GUY: Maximize Your Savings & Earnings

Lauren Graves

Current Visa Debit Card Review


image credit: current.com

Current was founded in 2015 as a modern solution to an age-old problem of inaccessibility in banking. By taking advantage of innovative technology and creating transparency in their products, Current’s goal is to make banking easier and more flexible. And it seems to have accomplished that, especially with its teen bank account.

The Current Visa debit card for kids aims to find that middle ground between giving teens the financial independence they crave and parents the ability to steer them in the right direction. This is a product that gets it right in a lot of ways, and we’ll talk about those—as well as how the Current debit card potentially falls short—here.

After reading our review of the Current Visa Debit card you might want to see where it stacks up against the competition in our rundown of the best debit cards for kids and teens in 2021.

Who’s It For

Average age: 13-18

Good Candidate: Teens that earn an allowance and want to spend, save, and donate their money.

There is no minimum age requirement for this product, so teens of all ages are welcome. The Current app is easy enough for younger teens to use and comprehensive enough for older teens to benefit from. 

There are a lot of ways teens can use their money besides just spending and a lot of ways for parents to intervene.

Features and Benefits

Kids with Current debit cards can spend, save, or give their money. Parents can oversee all of their kids’ activity, step in when they want to offer guidance, and easily transfer funds between accounts.

The Current banking experience is something between a traditional checking account and a checking account for kids. Teens can earn allowance and move their money into different categories, options you’ll commonly see with debit products for kids, but will be able to use their card in more ways than less sophisticated products allow (i.e. Apple Pay and Current Pay).

For Parents

Parents can easily pay their teens for completed chores through the Current app. They can set chores for their teens at their desired price, see what chores their teens have completed, and approve chores for payment. Allowance for these can be paid out on a daily, weekly, bi-weekly, or monthly basis. 

Chores are assigned and paid on a weekly basis. Parents can create a list of chores for their kids to complete in their own time throughout the week. Chore payments and allowance payments are not related. If a teen doesn’t complete all of their assigned chores, their parents may choose to pay them less for chores that week.

Multiple parents are eligible to manage and contribute money to one teen account. Co-parents can have their own chores lists, allowances, funding sources, etc.

Transferring money from a parent account to a teen account is easy and instant. Once parents have set up funding into their own account and their teen has registered for Current themselves, the parent can link to their teen’s account by selecting this option from their screen and sharing the code with their child. Parents can initiate withdrawals from their funding account into their Current account from the Current app.

Parents may qualify for instant transfers if their Current account is in good standing and they have made several successful transfers in the past.

Parents can control their kids’ spending by prohibiting them from making purchases at specific merchants, setting overall spending limits, or turning their card off from the app. 

Many parents also choose to receive account alerts. With these, they will receive push notifications showing when and where their child is using their money. 

For Kids

Teens have a lot of flexibility in how they use the money in their Current account and their experience is highly customizable.

💰 Earning: To earn more money, teens can complete chores and mark them complete through the Current app. Teens can also request chores for themselves. If a teen would like additional help funding their account outside of allowance and chore completion, they can send a request to their parent or parents for the amount they need. If their parent approves, this money will be transferred from the parent’s wallet to the kid’s.

Current users can send and request money between their accounts using Current Pay. This is a free P2P feature that gives users QR codes they can use to either pay someone money or request money from them. Current users can also find each other by searching their names through the app.

Teens can link direct deposit to their account if they are earning money for themselves or use the mobile check deposit feature to fund their account with paper checks.

💸 Spending:  Teens cannot spend or withdraw more than what is available on their card, and only funds not in a Savings or Giving Pod can be spent. Users can withdraw funds at no cost from any Visa Interlink or Maestro ATM. There are over 55,000 ATMs that are free to Current users. Users can also withdraw cash from merchants that are part of Visa’s Interlink or Maestro network. 

There is a maximum daily purchase limit of $2,000, a maximum ATM withdrawal limit of $500, and a $5,000 limit for Current Pay transactions. 

A Current debit card can be used almost anywhere Visa is accepted. Users can also use their cards through Apple Pay. Teens can lock and unlock their cards from the app.

Saving: Teens can save money easily with Current by setting savings goals. Funds allocated to a Savings Pod are not eligible to be spent using the Current debit card. After a user reaches a savings goal, they can move the money into their available checking account balance to spend.

Giving: Teens can also donate their money by moving funds into their Giving Balance. They can then select from a number of pre-chosen charities and set goals toward their charity or charities of choice. Much like the Savings Pods, they will be able to see their progress toward a given goal from their Current account and see all transactions toward them.

Another great feature for saving or donating is the Round Up setting. By enabling this, teens can save or donate a little money every time they spend. This feature rounds all transactions up to the nearest dollar and automatically deposits this money into either a Saving or Giving goal. Teens can choose which of their goals they’d like round ups to go toward and change this as needed.

Users can move their money to different pods at any time, no parent approval required.

Current Debit Card Cost(s) and Fees

Fees: No fees for low balance, no fee for inactivity, no fees for transfers, no fees for overdrafts, no fee for transactions at in-network ATMs, up to $2.50 per transaction at out-of-network ATMs, $5 per replacement card.

The subscription fee for the Current debit card is $36 per teen, charged annually. This is a flat rate that includes all Current services and products for your kids—every teen gets their own card and account—, and cannot be waived.

Give the 30-day free trial a shot if you want to see if the product is worth this price.

Current VS Competitors

Current beats its competition in a few important ways. 

The first one is the round up feature. Although not something offered by many traditional checking accounts, this option will make it easier for teens to reach their goals. It will help them get into the habit of putting money away toward saving and giving before they have a checking account by themselves and no longer have this feature built in.

Another pro to the Current debit card for kids is how much control it gives parents. By letting them set spending limits, merchant restrictions, and chores and allowances, Current allows parents to play a more active role in their kids’ spending than other products like it.

Current also has flexibility for teen users going for it. Teens can spend, save, or give their money to charity easily through the app and use their card to make purchases in-person or online, withdraw money from an ATM, link to Apple Pay, or transfer money to or accept money from other Current users. 

Current is straightforward with its pricing structure as well. Although an annual fee of $36 is not ideal, this account doesn’t come with unnecessary fees for things like card reloads or declined transactions due to low balance.

Potential Drawbacks

One of the main disadvantages of Current is the price. The subscription fee may also turn some families away, especially families with multiple teens. Many banks offer the ability to link a teen to a checking account for free, though this usually comes with fewer features and customization capabilities. 

Another disadvantage of the Current debit card is that it’s not like a regular checking account. Although this is a product geared toward teens, it is actually pretty similar to products geared toward kids in that it lets users put their money in different buckets, complete chores, and the like. Current will probably help your kids become more responsible, but it won’t give them an accurate depiction of how adult checking accounts typically operate, if that’s your goal.

Consumer Sentiment

Current seems to do pretty well in the customer service department, though this wasn’t always the case. If you go to review boards, you will see complaints from a few years back about trouble reaching customer service representatives and issues with suspicious account activity. Today, however, users praise Current’s customer service—which the company seems to have corrected—and its level of security.

The Current mobile app is eye-catching and well organized. Its minimalistic design makes it easy to find what you’re looking for and use different features. This app has a rating of 4.6 out of 5 stars on Google Play and 4.7 out of 5 stars in the App Store.

To reach Current customer support, you can email support@current.com or call 1 (888) 851-1172 Monday through Friday between 9 AM and 6 PM. You can also chat with an agent live through the app 24/7 Monday through Friday or between 9 AM and 8 PM EST on Saturday and Sunday

Is It Safe

All Current checking accounts are covered by up to $250,000 of FDIC insurance.

Current also uses both fingerprint and facial recognition software to protect each account. 

You are not liable to pay for unauthorized transactions as long as you notify Current of suspicious activity within two days. Otherwise, you may pay up to $500.

How to Sign Up

To sign up for a parent Current account, enter your phone number on the Current home page and you will be sent a link to finish registering. You’ll just need to enter your personal information, no credit check required. You will be automatically enrolled in the 30-day free trial when you register.

Your teen will need to sign up for an account too. One you have both registered, you can link your account with your teen’s and start giving them money, assigning them chores, etc. You’ll need to pay the annual fee for every teen you add after linking your accounts. 

You can add cash via: 

  • ACH transfer
  • Direct deposit 
  • PayPal transfer or
  • Bill pay

There is no minimum balance required at any time for your account or your teen’s, but there is a maximum balance of $10,000 for a teen’s account.

Final Thoughts

Current is a great joint checking account for parents and teens. Both kids and their parents are likely to be happy with the options they are afforded by Current—freedom for the teens and control for the parents—, and this is a modern product that can be used in a number of ways. If a checking account with a debit card is more appealing to your family than a more restrictive prepaid debit card, then Current is a good place to start your search. 

For its reasonable terms and transparency with pricing, Current is an excellent option all around.

13 Best Debit Cards for Kids and Teens in 2021


Full disclosure: We may receive financial compensation when you click on links and are approved for products from our advertising partners. Opinions and product recommendations on APYGUY are those of our writers and have not been influenced, reviewed or approved by any advertiser. Learn more about how we make money.

When shopping around for the right debit or prepaid card for your kid or teen you’re going to want to keep an eye out for several key features. Things like low fees, parental controls for reloading funds and monitoring and controlling spending activity are essential.

Depending on the age of your kid(s) though, you many want additional features such as automatic bill pay, or mobile direct deposit. These are great to have if your teen has a part time job and may even have bills to pay of their own such as a cell phone, iTunes, Netflix, etc.

In compiling this list below of the best debit cards for kids and teens, we’ve considered the following features and variables:

  • Does the account pay an interest on the balance?
  • What are the fees associated with this account – monthly fees, fees per cash reload, etc.?
  • Which cards are the best for households with multiple kids and/or teens?
  • Which offers provide the best security?
  • Which offers provide the best parental controls?
  • Which provides the best app and/or online experience?
  • Which debit cards feature the best card art?

If you’re considering applying for a debit or prepaid card for your child or teen, you’ll want to read our comprehensive and objective review of what we believe to be the best options below.

Greenlight Kids’ Debit Card

image credit: greenlightcard.com

The Greenlight debit card for kids is one of the most popular offers on the market and is perfect for teaching your children all the basics of earning, spending, and saving their money.

Greenlight lets you create a chore list that your child can work through to earn money and other perks. You can also set automatic allowance deposits on a weekly or monthly basis in addition or if you prefer giving  your children a set amount of money each week. And if you ever need to fund your child’s account in a matter of minutes, you can make an instant transfer through the app.

When your child spends money, you’ll receive a notification that their card was used moments after they’ve used it. You’ll be kept in the loop and you’ll have a say in where your child is allowed to use their money, but your kids will be doing valuable learning themselves as they track their spending and saving and build money management skills. Kids with Greenlight cards can use their funds to make purchases anywhere Mastercard is accepted or even to buy stock.

A Greenlight subscription costs $4.99 a month for your whole family, which can include up to five kids’ accounts.

You can learn more at about the Greenlight Debit card for kids on their website.

FamZoo Prepaid Debit Card

image credit: famzoo.com

The FamZoo Family Pack of Prepaid Cards gives parents control over how and what their children spend and kids opportunities to learn how to manage their money. FamZoo accounts use private family banking systems to give children hands-on learning experiences that are parent-directed.

With FamZoo, parents are “bankers” and their children are account holders. Parents can establish a payroll for their kids, loan money, set up automatic allowances, and even pay interest on savings.

This virtual family bank is great for families of all sizes and can be customized to meet your children’s specific needs. FamZoo is easy to use from both the parent and child perspective and the prepaid cards can be used safely anywhere where Mastercard is accepted.

FamZoo accounts cost $5.99 per month if you pay monthly, but you can save if you pay in advance. If you pay for 12 months, the cost will come out to around $3.33 per month. The first four debit cards are free and each card beyond this costs $2.

We go into further detail in our FamZoo review found here.

BusyKid Visa Prepaid Spend Card

image credit: busykid.com

If you have a child between the ages of five and 16, you may be interested in the BusyKid Visa Prepaid Spend Card. 

BusyKid uses a chores-based system to allocate money for your child so that they can see exactly where their money is coming from and where it is going. You can set rates for different chores and your children can mark them complete and see when they will be paid. Parents who use BusyKid appreciate that this system instills a sense of responsibility and ownership over spending and saving in their children.

Once your children have been paid for their chores, they can choose to spend, donate, or invest their money. Investments can be made into real companies like Netflix and Nike through Stockpile and kids can donate a percentage of their earnings into the charities of their choice. All purchases and spending is approved by parents before it goes through.

BusyKid prepaid debit cards can be used online and anywhere Visa is accepted. A BusyKid annual subscription costs $19.99 including a free card. Each additional card costs $7.99 a year.

This breaks down to a monthly cost of just $1.67 for one child or $2.33/month for two.

Copper Debit Card

image credit: getcopper.com

Copper debit cards are specifically designed to help your teenager learn good money habits, without being overly restrictive or charging fees for mistakes like overdrafts. Copper debit cards can be used online and in person anywhere Mastercard is accepted.

With Copper, your child is given the tools they need to make smart financial decisions for themselves and control over their own accounts to practice what they’re learning.  They can also take quizzes to test their knowledge and they’ll have access to expert advice whenever they need it. 

The Copper app provides a straightforward, comprehensive look at your teen’s spending and saving, lets them set savings goals, and makes it easy to manage their finances in one place. And as their parent, you can set up automatic payments into your child’s account and not have to worry about transferring money.

Copper requires no minimum deposit to open and does not charge an annual fee.

[Update April 2021: Copper has seen consistent growth since their inception in 2020. Their CEO and founder announced that they surpassed 130,000 members as of April 2, 2021.]

Copper CEO/Founder announcement on April 2, 2021 via LinkedIn.

Copper also has a promotion running where you can send $3.00 to each of your friends (which copper will pay for) plus you’ll receive $3.00 when/if they sign up.

You can learn more in our comprehensive review here.

Akimbo Prepaid Mastercard

image credit: akimbocard.com

An Akimbo prepaid Mastercard offers a safe way for your older children to learn the nuances of banking in a low-risk environment. This card lets your teens have total control over their money but gives you the final say in what they can and can’t spend. Your child’s card account will be a sub account within your own, so you can decide how much money you allocate to your teen’s card.

Akimbo doesn’t have all of the bells and whistles of some of the kids cards and apps talked about in this list, but it is as close as you can get to giving your child a bonafide debit card without surrendering your ability to see what they’re doing and help them. You’ll be notified when they spend their money and, as the account manager, what they spend it on. This is great for parents that want to play a role in teaching their children financial literacy lessons.

Each Akimbo account may have up to four prepaid cards. There is no monthly fee. However, reloading your card costs up to $5 each time and ATM withdrawals are around $2 each.

Capital One MONEY Teen Checking

image credit: capitalone.com

A MONEY teen checking account with Capital One is a great choice for kids and teens that have already learned the basics of money management and are ready for more independence with their cash. Kids eight years old or older qualify for this account.

The Capital One MONEY app lets your child track their earning and spending as well as set savings goals in different categories. If you choose to, you can reward them for reaching these goals with bonuses. And in cases of emergency, you can lock your child’s card instantly.

There are no monthly fees or account minimums with this account. Parents do not need to have a Capital One account to enroll their child in MONEY. This account earns an APY of 0.10% on any balance. 

Gohenry Debit Card

image credit: gohenry.com

The gohenry debit card is designed for kids between the ages of six and 18 years old, but it’s best for parents that want to start teaching their children young about the importance of smart budgeting.

The gohenry app lets you set up an automatic weekly allowance for your child and you can also add chores and set a price for these to let them earn more. Then, you set limits on how much your child can spend in a given week or trip and change these as needed. Your child can save, spend, or donate their money to Boys & Girls Clubs of America. They can set as many savings goals as they want for larger purchases.

A gohenry account costs $3.99 per month per child. This card is a little pricier than some of the others on this list because fees are charged per child, but it’s good for small families. These cards can be used online or anywhere Mastercard is accepted.

American Express Serve Prepaid Debit Cards

image credit: serve.com

The American Express Serve FREE Reloads prepaid debit card, while not marketed as a teen product, is great for teaching your teen financial literacy. 

A FREE Reloads debit card requires no minimum monthly balance and is free to use/reload at over 45,000 ATM and store locations. By giving your teen a certain amount of money and allowing them to decide when and how to spend it, this card encourages independence and offers all of the perks and protections of a true debit card.

This account charges a monthly fee of $6.95, which cannot be waived. A card is free to purchase online but may cost up to $3.95 if you go to a retail location. These can be used online or anywhere American Express is accepted. To avoid transfer fees, your teen will need their own American Express bank account, and many parents choose to link this to their own.

Alliant Credit Union Free Teen Checking

image credit: alliantcreditunion.org

You might want to look into getting an Alliant Credit Union free teen checking account if you’re a fan of the popular credit union, fee-free banking, or easy-to-use platforms. Teens between the ages of 13 and 17 are eligible to open an account.

This checking account is one of the best options out there for giving your teen a comprehensive banking experience that is safe and helpful. Teens can set their own budgets and even earn interest up to 0.25% APY when they save (you will need to enroll in eStatements and make one deposit per month into their account to access this feature); and parents can set ATM and spending limits for their teens and transfer money between accounts at no cost. On top of that, the Alliant mobile app is consistently rated at five stars.

If you’re looking for even more interest, they also have a kids savings account that features an APY of 0.55%. To put this in perspective, the current national average sits at just 0.07% APY.

There is no minimum monthly balance requirement or monthly fee with this account. Just a few of the perks offered include access to over 80,000 free ATMs, up to $20/month in ATM rebates, and the ability to make contactless Visa purchases.

Jassby Virtual Debit Card

The Jassby virtual debit card for kids offers all of the safety and convenience that a kids’ card should, with the added security of being fully digital. This card is best for families with multiple children because parents are in complete control of when the card is activated and for who. The card can only be used when active.

The Jassby virtual card is unique in that it is on your child’s phone, so you don’t have to worry about them losing a card, but they can still use it anywhere. You can use the Jassby Family Finance app to pay your child an allowance and for chores instantly without incurring fees.

There is no monthly fee for this account for the first six months and as long as the card is used once per month after this (otherwise the monthly charge is $2.99). This card can be used online or anywhere Mastercard is accepted.

Current Debit Card for Teens

image credit: current.com

You and your child will both love the Current debit card for teens. They will love the freedom to make purchases just about anywhere and save more effectively with round ups and savings goals, and you will love being able to keep them safe wherever they are using their card.

This card lets you set spending limits, assign chores, pay allowance, and transfer money to your teen with ease. You are immediately notified whenever your child uses their card. The Current app is user-friendly and easy to navigate, making it perfect for teaching your teen about banking without the stresses of a complicated interface. You also have the ability to block your child from using this card at certain merchants.

The price is $36 per teen annually. There is no minimum monthly balance fee, overdraft fee, or transfer fee. This card can be used online or anywhere Visa is accepted.

Mango Prepaid Debit Card

A Mango prepaid debit card is a stand-out option because it offers the opportunity to link a high-interest savings account to your card.

This account has a lot going for it, including the fact that it can be opened even if your teen doesn’t have a checking account of their own. Your teen can open a linked Mango savings account with a deposit of just $25 and earn up to 6% APY (to qualify for this rate, your teen needs to make signature purchases totaling $1,500 after opening the account and maintain a minimum monthly balance of $25 after). 

You can add funds to your teen’s card from your own checking account or load money onto it from a participating retailer like Walmart or Walgreens.

There is no activation fee, but there is a monthly charge of $5 and a $3 ATM withdrawal fee. This card can be used online or anywhere Mastercard is accepted. Mango can also be used virtually from your phone when you enable this from the app.

Chase First Banking

Chase First Banking is one of the newer offers on the list and is only available to current Chase customers. This product launched in 2020 in collaboration with Greenlight and is intended for kids between the ages of 6 and 17.

And although kids are eligible up to the age of 17, the product does not allow for direct deposit, so if your high school kid(s) are earning their own income, Chase First Banking won’t be a great fit.

That said, the product has a number of helpful parental controls and functions (most or all of which are powered by Greenlight). You can read more about them in our Chase First Banking review.

Alliant Credit Union CD Rates: Up to 0.65% APY + 0.50% APY Savings Account


[Update May 2021: Alliant Credit Union has not lowered nor raised the APY on any of their deposit products this year. The last rate change was a decrease of 0.10% APY on all savings and CD accounts in September of 2020.]

Alliant Credit Union is the 8th largest credit union in the country and the largest credit union in Illinois. This institution was established in 1935 by 146 United Airline employees under the name the United Airlines Employees’ Credit Union. Headquartered in Chicago ever since and now called Alliant, the financial cooperative serves 450,000 members nationwide today.

Alliant is not only large, but it’s also impressively decorated with various awards including “MONEY’s Best Credit Union of 2019,” “Bankrate Best Credit Union of 2019,” and “Nerdwallet Best Banks 2019.” There are many ways to become an Alliant member and take advantage of good CD rates and superb savings options.

Alliant Credit Union CD Rates + Details

Alliant Credit Union sells CD terms ranging from one to five years. There are no shorter term products such as 3 or 6 month certificates available, which is somewhat unusual, and terms are sold as ranges rather than fixed lengths.

Alliant certificate deposits are federally insured by the NCUA up to $250,000.

Alliant Credit Union CD Rates:

CD TermAPY
12 – 17 months0.50%
18 – 23 months0.50%
24 – 35 months0.55%
36 – 47 months0.60%
48 months0.60%
60 months0.65%

When opening the CD, you will first be asked to choose either a 12 – 48 month CD or a 60 month CD before making any deposits. If you choose a 12 – 48 month CD, then you will be asked to specify the exact duration within said range later in the account opening process.

When viewing the annual percentage yields above, keep in mind that the national average for 12 month CDs currently sits around 0.60% – and this figure is steadily dropping. Therefore you could safely say that Alliant has competitive rates of return for its certificates​ albeit more competitive offers through online banks.

All of the above terms require a minimum deposit of $1,000. Interest is compounded and paid monthly, which you can withdraw or reinvest as you please.

Early withdrawals are allowed but penalized unless within the 7-day withdrawal grace period upon your deposit’s maturity. If you do withdraw your funds within 7 days, you won’t earn interest on your money during that grace period, but you’ll get everything else back. If you need to withdraw funds outside of the 7 day grace period for any unexpected emergencies, here’s how you’ll be charged:

Alliant Credit Union Early Withdrawal Penalties on CDs:

CD Maturity PeriodsFee
12 – 17 monthsNumber of days’ interest since issuance up to 90 days
18 – 23 monthsNumber of days’ interest since issuance up to 120 days
24 – 48 or 60 monthsNumber of days’ interest since issuance up to 180 days

If you have a 24 month certificate and have to withdraw after 120 days of opening, for example, you will be charged 120 days’ interest—the total interest your account would have earned—but still receive your initial principal in full.

Opening an Alliant certificate account is easy because there are four ways different ways to do it:

  1. Online
  2. Call (800) 328-1935
  3. Mail in a ​certificate application
  4. In person at the Alliant branch

Other Savings Accounts Offered By Alliant Credit Union

Alliant Credit Union has three different savings accounts:

  1. high-rate savings account,
  2. supplemental savings account, and
  3. kids savings account.
Savings Account NameAPY
High Rate Savings Account0.55%
Supplemental Savings Account0.55%
Kids Savings Account0.55%

The ​high-rate savings account​ is your share in Alliant and is opened automatically when you become an Alliant member; this was ranked the best savings account of 2018 by NerdWallet and WalletHub as well as the best online savings account of 2017 by MagnifyMoney. With an APY rate of 0.75% compared to the national average of 0.07%, it’s easy to see why.

A high-rate savings account requires a minimum opening deposit of just $5—which Alliant pays for you—and a minimum average daily balance of $100 to earn interest. Withdrawals from this account, which must be pre-authorized, may not exceed six per month, per savings account. There are no monthly fees when you elect for eStatements and no maximum balance limits. Paper account statements cost $1 each.

There is no real difference between a high-rate savings account and a supplemental savings account other than that supplemental savings accounts are in addition to the required high-rate savings account. A supplemental savings account also earns a rate of return of 0.75% and needs an average daily balance of $100 to accrue interest. You may open up to 19 supplemental savings accounts.

One nice perk of Alliant savings accounts is that they come with Alliant Savings ATM cards if you don’t already have an Alliant checking account debit card. This makes accessing funds a whole lot easier because cards can be used at any of 80,000+ Alliant-affiliated ATMs.

Finally, there is the ​kid savings account​. This, like the others, earns 0.75% interest. Unlike the others, it’s only for individuals 12 years old and younger. Joint ownership with a parent or guardian that is an Alliant member is required. Everything else is the same for this savings account.

About Alliant Credit Union + Eligibility

There are 450,000 Alliant members across the country. Alliant currently has over $11 billion in assets and $8.5 billion in loans.

As big as this credit union is, there is only one physical Alliant Credit Union branch and it is the headquarters location in Chicago. Other than that, there is no way to do in-person banking. Unfortunately, Alliant does not participate in shared or co-op branching with other credit unions, but it does give its members access to over ​80,000 surcharge-free ATMs​, some of these Alliant-owned and some shared with other credit unions.

Nearly anyone can qualify for membership with Alliant Credit Union because there are five eligibility requirements:

  1. You are a current or retired employee of a business or organization in partnership with Alliant (search these ​here​).
  2. Someone in your immediate family or your domestic partner is an Alliant member.
  3. You live or work in a ​qualifying community​ around the Alliant headquarters in Chicago, Illinois.
  4. You are a member of a ​qualifying organization.
  5. You are a member of ​Foster Care to Success​ ($5 membership fee paid on your behalf by Alliant).

If you don’t otherwise qualify and choose to go the #5 route, all you have to do is show your support for Alliant’s partner charity, Foster Care to Success, by letting Alliant donate $5 under your name. Anyone can become a member this way. This nonprofit serves foster teens nearing the age limit of the foster care system by connecting them with educational and employment opportunities and resources.

The generous eligibility policies of Alliant make it possible for any U.S. citizen to join Alliant, but even ​non-U.S. residents​ can join as long as they have a valid Social Security number or unexpired ITIN.

Final Thoughts

Alliant Credit Union is one of the largest credit unions in the country for good reason. The APYs offered on both their deposit and savings products are solid when pitted against the current national average – although better deposit rates can be found through online-only banks.

Banking with Alliant means banking 100% through an ​app​, ​online​, or over the ​phone​ (unless you happen to live near the Chicago headquarters). If access to in-person locations is important to you, Alliant likely won’t be a good fit. But if digital banking is right up your alley, then so, probably, is Alliant.

Greenlight Debit Card Review for 2021


Full disclosure: We may receive financial compensation when you click on links and are approved for products from our advertising partners. Opinions and product recommendations on APYGUY are those of our writers and have not been influenced, reviewed or approved by any advertiser. Learn more about how we make money.

A debit card that will teach your kids responsible money management skills, introduce them to investing, and let you keep an eye on their activity—this is what the Greenlight debit card for kids promises. Founded in 2014 and headquartered in Atlanta, Georgia, Greenlight has made a name for itself within the growing niche of kids debit cards.

But is this product what it claims to be? Does it live up to the hype? Our complete review of this kid-friendly debit card should help you decide whether this product is right for your family or not.

Who is the Greenlight Debit Card For

Average age: 8-18

Good candidate: Busy families with multiple kids

Greenlight does not set any minimum or maximum ages for this product, but the majority of users fall within the eight to 18 range with many being somewhere around 13 years old. More and more parents are opting to get debit cards for their children when they turn 12 as cash becomes obsolete. This can be much more convenient and a whole lot safer than loaning your child your own credit or debit card when they’re out making purchases themselves.

The Greenlight debit card for kids is marketed toward parents with busy kids who have started earning their own money through allowance or chores and are making their own purchases. This product is intended to make parents’ lives easier by making it simple to pay their kids and allowing them to control how, where, and when their children spend their money. 

Greenlight helps parents teach their children financial literacy lessons through real-life experiences like earning interest on savings, investing in real stocks, and tracking their balance.

Greenlight Debit Card Features and Benefits

One of the best features of this card is the lack of steep fees – especially for larger families. Many kids’ debit cards charge on a per card or per kid basis, so it’s nice that Greenlight’s costs don’t increase much for larger families.

On top of that, there are no fees for overdrafts, international spending, or ATM withdrawals either.

In terms of App features, Greenlight offers a chore management function that lets you create chores lists right in the app and pay your kids when they complete those chores. You can even set automatic allowance deposits into their accounts on a weekly or monthly basis. But if you don’t want to set up automatic transfers, you can make an instant one-time transfer into your child’s account at any time at no charge.

Greenlight Card from the Parents’ Perspective

On the parents’ side, Greenlight is all about giving you control over your kids’ spending and the final say over what they can and can’t do with their money. 

Parents transfer money into a Greenlight main account that can then be dispersed into their children’s cards. Greenlight automatically declines all purchases that exceed a card’s available balance, so it is literally impossible for a child to overdraft their account. 

Parents can also decide what’s best for their children by setting restrictions on their children’s spending as they see fit. They can:

  • Restrict or block their children’s spending at certain stores
  • Set ATM withdrawal limits
  • Switch their child’s card on or off instantly from the app

Parents are always instantly notified via pop-up notifications to their phone (if they set this permission) whenever their children make purchases. If their child has attempted to make a purchase at a store they have restricted, they are alerted immediately.

To encourage your kids to save and invest their money rather than just spend it, you can incentivize different behaviors. You can, for example, pay your children interest on their savings. This interest comes out of your own bank account but can be used to teach your kids the importance of holding onto the money they earn.

Greenlight Card from the Kids’ Perspective

On the kids’ side, Greenlight gives users many authentic financial experiences in a safe and supportive environment that’s specifically designed to teach them about money management and sound financial choices as they go. 

Greenlight also makes it easy to spend and save. Kids can set personal savings goals for themselves in the app and they can set their account to round-up their purchases to save faster automatically. If you have the Greenlight + Invest or Max account, kids can even invest in real stocks.

(Your child does not need to have the Greenlight app to have the debit card, but this does give them access to free educational resources and certain account features like the one above. There are separate parent and kid versions of the app.)

This Mastercard debit card can be used at most places Mastercard is accepted, except for at vendors and on services that are restricted by Greenlight (see “Is It Safe?” for more info).

Greenlight Debit Card Cost Structure

Pricing for this product begins at $4.99 a month, but this is for the most basic version and does not include certain features. Plan options are as follows:

  • Greenlight (basic): $4.99/month for
    • Debit cards for up to 5 kids, the Greenlight app, free financial literacy tools, and parental controls
  • Greenlight  + Invest: $7.98/month for
    • All features listed above plus access to the Greenlight kid-friendly investing platform, which includes actual stocks and bonds and portfolio tracking. Your kids can research different investments using data analyses powered by Morningstar. All investments your kids choose to make must be approved by you before they go through.
  • Greenlight Max: $9.98/month for
    • All features listed above plus black cards for every kid on your plan, priority customer support, identity theft protection, cell phone protection for every kid on your plan at values based on the Insurance Plan for 5 Individuals by AT&T, and purchase protection to prevent losses when items are lost or stolen.

You get the first month free when you sign up for Greenlight and can cancel whenever you like—you’re not locked into a contract. If you want to customize your child’s debit card for them, this costs $9.99 each. You may upgrade or downgrade your plan at any time from the parent version of the Greenlight app. The first card you need to replace is free and every card after that costs $3.50 each for standard shipping.

Please note that the basic Greenlight plan does not include any sort of investing options.

Greenlight VS Competitors

In 2021, there are many kids’ debit cards to choose from, so how does Greenlight compare?

Greenlight is a good card overall and generally considered one of the best options on the market. It’s one of the only cards that allows parents to control every transaction their kids make and even prohibit them from spending money at certain establishments. 

However, how much you want to control as the account’s owner is up to you. You may choose to give your children freedom and just check up on their activity now and then or you may prefer to receive notifications every time your child spends something and set spend controls as you see fit. There is a good deal of parental flexibility with this product.

Another benefit of Greenlight over its competitors is that your kids can invest their money into real stocks and bonds.

Below is a side-by-side comparison of Greenlight’s offer vs other popular options on the market.

Greenlight VS FamZoo

If you’re in the middle of conducting research on the best available debit cards for kids, you’ve likely come across FamZoo. Below is our side by side comparison of the account features and costs with Greenlight.

ItemGreenlightFamZoo
Monthly Fee$4.99/family$2.50 – $5.99
ATM fees$0$0
Allowance Payment/ControlYesYes
Interest DistributionYesYes
Custom Card Design$9.99Not Offered
Card Replacement FeeUp to $3.50$0

Greenlight beats FamZoo on the monthly costs, however, if you opt for FamZoo’s “pay-in-advance” plans you can get it lowered to as little as $2.50.

Greenlight VS GoHenry

GoHenry is another popular debit card offer for kids. Below is our side by side comparison of the two offers.

ItemGreenlightGoHenry
Monthly Fee$4.99/family$3.99/kid
ATM fees$0$1.50/ea
Allowance Payment/ControlYesYes
Interest DistributionYesNo
Custom Card Design$9.99$4.99
Card Replacement FeeUp to $3.50$0 – $4.99

Depending on how many kids you have in your family, the GoHenry card may end up being more or less expensive. The fee structure with GoHenry is pinned to each kid rather than the family.

Greenlight beats FamZoo on the monthly costs, however, if you opt for FamZoo’s “pay-in-advance” plans you can get it lowered to as little as $2.50.

Greenlight VS BusyKid

BusyKid is a chore based app that allows parents to create chores and pay their child a weekly allowance through the app for completing them. They also have a prepaid debit card. The app is free but the associated card has some fees. Below is our side by side comparison of the BusyKid Visa Prepaid Debit Card and Greenlight.

ItemGreenlightBusyKid
Monthly Fee$4.99/family$0 – 19.99/year
ATM fees$0Not Eligible
Allowance Payment/ControlYesYes
Interest DistributionYesNo
Custom Card Design$9.99Not Offered
Card Replacement FeeUp to $3.50$5.00

Although the $19.99/year price may seem decent, this package only comes with one debit card. If you plan on adding more kids, it will cost $7.99/year for each additional card.

Greenlight Debit Card Potential Drawbacks

Of course, no product is without its disadvantages. 

Some users don’t like that the interest their kids earn must come from the parents instead of from Greenlight Financial. A few kids’ debit cards do pay interest on savings, but this isn’t particularly common.

Another potential disadvantage is that parents can’t load their Greenlight account with cash or a check. You may load your parent account via ACH transfer, direct deposit, debit card transaction, or Invest Account transfer from a DriveWealth broker-dealer account. 

There are also restrictions on how much you may load to your account and how much may be added to a Greenlight card. You may only add up to $10,000 to your parent account (the primary account, called the Parent’s Wallet) and your child’s card may carry a balance of up to $5,000. Each transfer you make from the primary account to a kid’s account must be equal to at least $20 and may not exceed $500 per day (if loading by debit card transaction).

There is also the fact that there are no brick-and-mortar Greenlight Financial institutions. Greenlight cards are issued by Community Federal Savings Bank, but all account service takes place online.

Greenlight charges a monthly fee for use. However, the lowest price of $4.99/month is fairly standard for this type of account (a debit card for kids) and five kids included in this price is pretty generous. But if you want to avoid fees altogether, you may want to look into opening a checking account for your child with your bank or credit union or getting a prepaid card.

Customer Sentiment

On paper, the Greenlight debit card for kids has few flaws. However, the feedback for this product from real-life customers tells a different story.

Many users complain about the support they receive from Greenlight customer service. Specifically, that it is slow and not always helpful. For example, some customers have reported being on the line for multiple hours waiting for phone support and others have voiced complaints about automatic transfers being delayed. Issues getting refunds after account closure are also somewhat common, and many past users indicate that closing an account is a difficult and time-consuming process.

That Greenlight’s customer service is lacking is a sentiment often expressed about this product on review platforms and a reason to pause and consider how important customer support is to you. If you’re considering this product, it may not be a bad idea to give Greenlight a try for the one-month free trial period and test your luck at reaching a representative with a question or concern. 

The Greenlight app has a rating of 4.8 out of 5 stars in the App Store and 3.9 out of 5 stars on Google Play. The general consensus is that the app is easy to use but that there are connectivity issues that sometimes cause problems when trying to make a transfer from a parent account to a kid’s card. Some users have complaints about the January 2021 update, but most find the interface satisfactory.

Is the Greenlight Debit Card Safe?

All deposit accounts with Greenlight are FDIC-insured up to the federally allowed limit of $250,000. Greenlight also keeps your family’s money safe by preventing your children from making purchases at vendors or via avenues deemed dangerous.

Just a few of the places your children will not be allowed to spend their money at with the Greenlight debit card include:

  • Casinos and other gambling sites
  • Massage parlors and dating services
  • Security brokers

Your kids will also be prohibited from making wire transfers or receiving cash back at store registers.

Identity theft protection is included with the Greenlight Max plan.

Also, if you plan on customizing the card for your kid(s) all photos and data that is uploaded is also encrypted.

How to Sign Up

To sign up for a Greenlight account, Start Here.

You will be asked to fill out your personal information, verify your identity, and add children to your plan. Then, you just load money into your wallet, at least $20, by linking your bank account or using your debit card. After your account has been verified and this transfer has gone through, you will receive your children’s cards in the mail (usually 7 and 10) and they can start spending.

Final Thoughts

Overall, the Greenlight debit card for kids is a good product. It comes with a lot of features to keep parents in control and plenty of safety protections. Its price point is about what you’d expect from a kids’ debit card and because five children are included in each plan, this is an especially good choice for families with multiple children.

Just be aware that you may not be satisfied with the customer service you receive from this company. Greenlight has some work to do in this department and should also consider allowing cash loading in the future.

Serve Prepaid Debit Card by American Express Review


image credit: serve.com

The Serve Prepaid Debit Card by American Express is an alternative to traditional debit cards and credit cards that can encourage responsible money management. This makes it great for adults and even better for teens. Many parents use this prepaid debit card to give their teens the financial independence they desire with the added protections of a prepaid account.

This product is unlike other debit cards for kids in a few important ways. We’ll go over these as well as the advantages and disadvantages of the Serve Prepaid Debit Card here.

Who’s it For?

Average age: 13-18

Good candidate: teens who are ready for a real checking account that want spending freedom 

Features and Benefits

A Serve Prepaid Debit Card is not specifically designed for use by kids and teens. Only users 18 years old or older are eligible to open their own account. However, this prepaid debit card is great for giving teens relative financial independence.

If a parent is getting this card for their child, they need to add a sub account for each child. In order to be added to a sub account, a user must verify that they are at least 13 years old. Parents can add up to four sub accounts to their account.

Please note that Vermont residents are not eligible for this card and that some states require account holders to be 19 years old rather than 18.

For Parents

Parents are the sole owners and account managers for Serve accounts. This means that they alone are responsible for reloading their kids’ prepaid debit cards from their main funding account.

Most reloads are free and there are many ways to add money to an account. Just a few include direct deposit, ACH transfer, and cash reloads. Please see “How to Sign Up” for a complete list of options for account funding. 

Cash reloads at in-network retailers use barcodes to instantly transfer money into an account.

There are several ways parents can control how their teens are able to use their card. They can: 

  • Set daily spending limits
  • Enable or disable Serve card use
  • Decide whether to permit or allow international purchases
  • Restrict sub account user account access by freezing or closing the account
  • Permit or prohibit ATM access 
  • Enable low balance alerts for themselves
  • Enable text alerts for sub account users for low balances and balance updates

All of these changes can be made from the app and reversed at any time.

Primary account holders can also set up to six savings goals for their account. Only account holders are eligible to create these goals, but sub account holders can contribute to them. All goal balances are held separately from the main account and debit card account (meaning users can’t use their Serve cards to spend goal money without transferring it).

To use the money from a goal, the funds need to be transferred from the goal back to the main account. From there, the funds can be added to sub accounts as desired. Parents may choose to set these savings goals for their children to help them learn good habits or contribute to them themselves.

There is no option for parents to reward their kids with bonuses for meeting savings goals or pay interest on money saved built into a Serve account.

For Kids

Sub account users are not able to fund their accounts themselves. To get more money on their card, they must request money from their parent, the primary account holder.

This debit card can be used almost anywhere American Express is accepted. Although American Express cardholders experienced issues with finding places to accept their cards in the past, increasingly more merchants are adding AmEx to their list of accepted card issuers (in fact, an estimated 99% of merchants accept AmEx).

Sub account holders can use their card online and in-person or withdraw cash from ATMs (if the primary account holder has chosen to allow ATM access). There are over 30,000 MoneyPass ATMs that accept American Express transactions at no cost. Withdrawals from out-of-network ATMs may cost up to $2.50 each. Alternatively, kids can withdraw cash from their Serve account using Cash Pickup Powered by Ria.

Another way it is possible for a sub account user to use their money is through Serve Money Transfer Powered by Ria. Using this feature, sub account holders can send money from their account to another Serve account for domestic cash pickup. All cash pickups can be made at Walmart stores within the U.S. and Puerto Rico.

These Serve cash pickup and money transfer capabilities are available to all Serve account users who have activated their cards. To initiate these transfers, a sub account user must select “Money Out” from their American Express account and select either Serve Cash Pickup or Serve Money Transfer. 

These transfers incur fees. Each Serve Money Transfer costs between $4.99 and $16.99, with higher fees assessed on greater transfer balances, and each Serve Cash Pickup costs between $3.49 and $9.49.

It is not possible to overdraw an account. However, users are charged $0.75 every time their card is declined at an ATM, in- or out-of-network (a card may be declined for insufficient funds, exceeding ATM withdrawal limits, or entering a PIN incorrectly). Sub account users may receive low balance alerts to prevent attempts to overdraw if their parents choose this.

Serve users with sub accounts are encouraged to save but are not able to set savings goals for themselves within the app. Serve sub account users may freeze their accounts if they have lost their card or suspect it has been stolen. Both primary account holders and sub account holders may request replacement cards

How Much Does the Serve Prepaid Debit Card Cost?

Fees: no fees for electronic reloads, no fees for cash reloads at in-network retailers, no fees for inactivity, up to $3.95 for cash reloads at out-of-network retailers, $2.50 for out-of-network ATMs

There is a $6.95 monthly fee for all Serve accounts. This is a monthly maintenance fee that is assessed regardless of balance. This fee can be avoided by setting up direct deposits that are equal to at least $500 per month. 

Benefits of Serve Over Competitors

There are so many reasons to choose Serve over other options if you’re the parent of a teenager.

The Serve Prepaid Debit Card offers users many more ways to fund their accounts than the average kids’ debit card account. For example, they can set up direct deposit, which many competitors do not allow. 

Compared to similar products, the Serve card is inexpensive. There are no subscription fees and besides an avoidable monthly service fee, few charges at all. There are also no per-kid charges to worry about, which is nice for larger families.

The Serve card can also be reloaded with cash at no cost. This action can be done for free at more than 45,000 retailer locations.

Being an American Express customer also has other advantages in general, and these are extended to all Serve users. For example, AmEx cardholders—including Serve users—receive discounts at many retailers and restaurants. You can add specific offers to your American Express account to get the most benefit from this complimentary feature.

Other (free) American Express benefits offered to Serve customers include: 

  • Roadside Assistance – a dispatch hotline open 24/7
  • Purchase Protection – 
  • Emergency Assistance – 24/7 emergency coordination assistance for medical, financial, and legal emergencies
  • American Express Experiences

Potential Drawbacks

Though the Serve Prepaid Debit Card is definitely an all-around great option for most, there are a couple of potential disadvantages to be aware of with this product.

For example, this is not strictly a kids’ account. If you are looking for a kids’ debit product that comes with educational resources and a comprehensive platform designed to teach kids financial literacy, the Serve card may not check all of your boxes. This is a fairly standard checking account that doesn’t really attempt to simplify money management, which may be either an advantage or a disadvantage for your family.

Another thing that the Serve card lacks is flexibility for sub account users. To name a few of these limitations: teens cannot fund their own accounts, set their own savings goals, donate or invest their money, or use bill pay features.

Consumer Sentiment

Many customers with Serve debit cards speak highly of their experiences with the product. For the vast majority of users, this card is easy to reload and convenient to use. Customer service is said to be generally satisfactory when addressing concerns, but some users have called it inconsistent. 

This product has a rating of about 3.7 stars out of 5 on ConsumerAffairs. Most complaints have to do with seemingly random account closures and slow processing times for refunds and deposits. If you do get this card, be aware that these issues exist for some users.

You can reach customer service for Serve users by calling 1-800-954-0559. 

The American Express mobile app has a rating of 4.2 out of 5 stars on Google Play and 4.9 out of 5 stars in the App Store.

Is It Safe?

The Serve American Express Prepaid Debit account is protected by up to $250,000 of FDIC insurance. All accounts are also covered by Fraud Protection that monitors for suspicious activity and dismisses responsibility for unauthorized transactions.

In addition, users are prohibited from using their cards to make purchases that are considered unsafe, such as transactions involving alcohol, tobacco, or gambling.

The Serve Pay Bills Guarantee ensures that you never have to pay late fees on your bills. If a bill does get paid late, American Express covers the charges as long as you submitted payment at least six business days before it was due. You can set up bill pay reminders for your account to avoid this.

How to Sign Up

There are two ways to sign up for a Serve account, if you meet eligibility requirements (18 years old or older in most states, 19 in Alabama and Nebraska): You can register directly online or purchase a temporary Serve card in person at a participating retailer such as Walmart, Dollar General, or Walgreens. 

Temporary Serve cards are just reloadable prepaid cards that can be loaded with cash and used at retailers that accept American Express. You must load at least $20 onto the card and may not exceed $500. These do not have checking accounts or online accounts and cannot be used at ATMs. 

If you have a temporary Serve card, you can register it online to set up a Serve account. If you choose to register directly online without a temporary card, you will just go online and verify your identity and your Serve card(s) will come in the mail shortly.

Once your account is verified, you can fund it and set up your sub account(s). Every sub account user gets their own card. There are a number of ways to easily fund your account. You can:

  • Set up direct deposit to automatically add your or your child’s earnings to the account
  • Link an external checking or savings account 
  • Deposit cash for free at a participating retailer (funds will be available immediately)
  • Link a debit card or an American Express credit card
  • Deposit a check through the American Express mobile app
  • Request money from another Serve account

One nice perk to make note of is that you can get direct deposit funds up to two days faster with a Serve account. Rather than wait for your electronic direct deposit to process automatically, you can get access to your paycheck early if your employer submits payment information to your bank ahead of schedule.

Final Thoughts

There are many advantages to being a customer with a prestigious bank like American Express, and there are many advantages to the Serve American Express Prepaid Debit Card as well. This account charges fewer fees than many of its competitors and offers many account protections and benefits.

Serve account holders are able to control their sub accounts in a variety of ways, but sub account holders may feel somewhat limited by their options (e.g. no option to set savings goals, invest their money through the app, etc.). With that said, this kid-friendly debit card gives users real-world experiences in a neat package that is easy to navigate.

BusyKid Visa Prepaid Spend Card + Chore App Review


image credit: busykid.com

BusyKid has been around since 2011, founded by certified financial planner and father Greg Murset. What began as a chore and allowance app expanded into a money management tool that empowers kids to make financial decisions for themselves and gives parents peace of mind when their children make purchases.

BusyKid is a subscription-based product that features prepaid debit cards and an app for managing payments and spending. This card might be right for your family if you pay your kids allowance and want them to have spending freedom. 

Read more about the features and benefits of BusyKid below – or see how it stacks up against the competition in our rundown of the best debit cards for kids and teens in 2021.

Who’s It For?

Average age: 5-16

Good Candidate: Kids and young adults that receive money through allowance paid by their parents.

Kids between the ages of five and 16 are eligible to get the BusyKid spend card. And because this product started as a chore and allowance app, BusyKid is best for young users that receive payment from their parents or guardians for chores they complete (whether for individual tasks or on a weekly basis in fixed payouts). 

BusyKid makes it easier for parents to pay their children allowance and gives kids the opportunity to learn about money through hands-on, real-world experiences. Families who operate on a system of chores and allowance will get the most out of this product.

Features and Benefits

Fees: $0.50decline/PIN transaction fee, $5 monthly paper statement fee, $5 replacement fee for new cards ($7.99 if replacing with a designed card), subscription fee (see “How Much Does the BusyKid Spend Card Cost?”), foreign transaction/currency conversion fee of 3%, $3 for card to account transfers.

There are many fees associated with a BusyKid account. These are, for the most part, pretty low, but the majority of them can not be avoided.

There are no fees for low balances, inactivity, or monthly maintenance.

For Parents

The BusyKid platform lets parents pay their kids for chores in a couple of ways. They can assign them individual chores to be done during a pay period or give them a flat rate payment every week.

Chores need to be assigned to individual children. BusyKid provides a number of age-appropriate chores and values to choose from, but parents can change how much they pay their kids for each task as well.

Allowance is paid out via weekly paydays, which fall on Fridays. Money for allowance is not automatically loaded onto a child’s spend card.

If a child has gone above and beyond the tasks expected of them or done something great that is not chore-related, a parent can choose to give them a bonus that can be loaded directly onto their spend card or put into a different category.

Parents can encourage their children to save their money by offering savings matching. They can choose a percentage of their child’s savings to match every week and this amount will automatically be withdrawn from the parent’s account and deposited into the selected child’s account on their next payday.

Parents can always track how much their child has earned in allowance, how they’ve spent their money, and when funds are transferred into different categories. They can see this complete account history from their dashboard in the BusyKid app and choose to receive push notifications when their child uses their card as well.

In addition to allowing parents to monitor their kids’ spending, there are a few things they can do to intervene in how their kids spend. 

Parents can prevent their children from moving their money between their different accounts (money to spend, money in savings, etc.) by enabling “Money Lock.” Both parents and kids can load a spend card with funds from a child’s account.

Parents can also easily withdraw money from their child’s account from the app or report a card lost or stolen with the tap of a button, which will instantly cancel the card and order a new one.

To avoid decline fees, parents can set up low balance alerts when their child’s card balance approaches $0. 

Two parents can co-own one BusyKid account and fund it separately.

For Kids

Kids can choose to Spend, Save, Share, or Invest their money. BusyKid automatically sets percentages of a user’s balance to be distributed to each category based on a user’s age, but these are just suggested amounts. Kids can choose how much money to allocate to different uses for themselves (or parents can do this for them).

However, before a child can designate their money to a category that will move funds outside of their BusyKid account (e.g. loading their card, making investments, donating to charities, etc.), their parent must approve it. Parents can lock these categories to push their child in the right direction as they see fit.

Spend: A child can use their card to spend money using whatever balance they have allocated to this category. When spending, it is not possible to overdraw a BusyKid account. A BusyKid Visa spend card can be used almost anywhere Visa is accepted, including online. Users can load their cards with money from any category.

Save: Kids can also save their money in a savings category. Savings balances do not earn interest (either paid by a parent or by BusyKid), but parents can reward their kids with bonuses or savings matching for saving money and reaching goals.

Share: Kids can also donate their money to charity. They can choose from a list of options selected by BusyKid including the American Red Cross, The Salvation Army, and the Special Olympics. You can see the complete list of charity options here (charities not on this list are not eligible for direct donations).

Invest: Finally, kids can use their investing money to purchase real stocks that they’ll be excited about. BusyKid partners with Stockpile to provide users with fee-free stock options. Please note that selling a stock incurs a $0.99 fee. Just a few of the companies kids can invest in include Apple, Disney, and Apple. There is a minimum stock purchase of $10.

Cards are not eligible for ATM withdrawals, so a child will never have cash access to the money in their account. Cash back is also prohibited.

Every kid on a BusyKid account can have their own card and PIN. Kids can choose from 10 different BusyKid spend card designs.

How Much Does the BusyKid Spend Card Cost?

The annual cost for a family BusyKid subscription is $19.99. This fee includes all of the services BusyKid offers as well as one spend card. There is no per-kid charge for a BusyKid subscription, but there is a per-kid charge for spend cards.

On top of this subscription fee, it costs $7.99 per year for every spend card in your account. You get one for free when you enroll in BusyKid, but you’ll pay this fee annually for each card after that.

This is the one and only plan. There is currently no free version of a BusyKid account. 

This does not include fees associated with card use (e, which you can read about above in “Features and Benefits.”

Benefits of BusyKid Over Competitors

BusyKid is great because it gives users more freedom over what they can do with their money. For one, BusyKid allows users to invest, which not many of its competitors do. Children can also use their BusyKid account to share or donate money to one of many pre-selected charities.

Another benefit of BusyKid over consumers is that it allows for multiple parent users per child account. The primary and secondary parent can work together to ensure that their child is making sound financial decisions and learning.

Potential Drawbacks

If you’re looking for a kids’ debit card that’s free to use, this is not it. Not only does a BusyKid subscription cost money, but users incur fees for things like adding spend cards to their account and making PIN purchases.

Another major inconvenience associated with this product is that the only way to load a BusyKid account is through the BusyKid website or app. It is not possible to add money to an account with a cash deposit or mobile payment through a platform like PayPal.

Another con to be aware of is that all account bonuses and savings matching comes from a parent account, so parents will need to be prepared to spend more than they are paying their kids for chores if they want to encourage good financial habits with monetary incentives.

These cards are also not eligible for ATM withdrawals, which could be quite inconvenient for a child if they need to pay for something with cash or want to pay someone back quickly and easily.

Consumer Sentiment

Real users seem to be generally happy with their experiences with BusyKid. The company has overhauled its customer service in the past year to better accommodate its growing user base, and it shows. Most users have no problem receiving help when they need it and are satisfied with the quality of service they receive.

The BusyKid app isn’t perfect and could use updating. The main things people complain about are that the app requires parents to assign chores to each of their kids, that the app does not show a detailed running balance of a spend card, and that transfers can take a while to appear in their child’s account. Some parents are also frustrated that they can’t choose charities for their kids to donate to themselves (these are chosen by BusyKid). 

This app has a rating of 3.9 out of 5 stars in the App Store and 4.4 out of 5 stars on Google Play.

To get in touch with customer support, we recommend using the chat feature on the BusyKid site or emailing help@busykid.com. The support team is available from 9 AM to 6 PM (PT) Monday through Friday and from 9-11 AM and again from 4-6 PM on Saturday and Sunday. 

You can also leave a message at 833-287-9543. For questions concerning Cliq, BusyKid’s card provider, call 866-634-3044 between 6 AM and 5 PM PT.

Is It Safe?

BusyKid’s parent institution, Stride Bank, is a Member FDIC and all BusyKid cardholder funds are insured up to the federal limit of $250,000.

This debit card is backed by Visa’s Zero Liability policy, which will keep your kids’ money safe if their card is lost or used without their authorization. 

How to Sign Up

To enroll in BusyKid, just fill out an application with your personal information and set up a payment account. 

You fund your account by linking a checking account, credit card, or debit card upon sign-up. Credit and debit cards move funds into your account faster but may incur fees; linking a checking account is free but transactions will take a little longer to process.

BusyKid partners with Plaid and Stripe to link bank accounts and credit or debit cards with a BusyKid parent account.

If you want to add more spend cards to your account, you will need to pay the annual fee of $7.99 per additional card on top of the subscription fee of $19.99.

Final Thoughts

The BusyKid Visa Prepaid Spend Debit Card offers more flexibility for kids than other cards like it and a good number of parental control options. BusyKid may not get as much attention as products like Greenlight and FamZoo, but it competes fairly well with other prepaid cards for kids in terms of accessibility, safety, and features. 

BusyKid is essentially a chores app with money management features, so it is best for families that use allowance systems to pay children. If this sounds good to you and you don’t mind paying subscription and account fees, you may be a good candidate for this BusyKid spend card.