Analyze teen debit card terms for parental control limitations, subscription fees, and what data is collected from your child.
Your child's first financial product comes with data collection and fees. Know the trade-offs.
Most teen banking apps charge $5-10/month per child. Multiple kids? That's $600+/year for a basic debit card.
These apps track every purchase your child makes. Check how this data is used, stored, and potentially shared with third parties.
Controls may have blind spots. Some apps can't block specific merchants or set complex spending rules.
What happens when your teen turns 18? Account may convert to adult account with different terms—or close entirely.
Some offer "investing for kids" with limited options and additional fees. May be custodial with tax implications.
ATM withdrawals may be limited or incur fees. Some cards only work at specific ATM networks.
Paste the terms of service to identify issues before signing up your child.