Debit Cards for Teens
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Hey gang, not sure if this is the best sub for this topic but I'm looking for an alternative option to my current set up with Chase. I have a Chase Premiere Checking account, and two kids checking accounts for my teens. My kids can access their individual accounts via Chase app on their phones, I can easily transfer money to/from those accounts, and they each have a debit card for their purchases.
Since I keep a balance below $15K in that main checking account, I gotta pay a $25/mo fee, which seems obscene to me. I don't want $15k of my liquid sitting in that account collecting minimal interest, so I'm looking to move elsewhere.
I know Venmo has teen accounts, Greenlight Financial I keep hearing about as well. I'll be looking into those. Having a physical debit card is not a deal breaker, but I do feel better knowing they having something on them in case their phone dies or gets lost.
Would love to hear what you guys use for your teens! I'm particularly looking for something that doesn't cost much to use while keeping a fairly low balance, and something app friendly and allows for easy transfers.
I have a Chase First Banking checking account tied to a debit card for each of my three children. Can my oldest (14) have his own unique login on the Chase app on his phone, to be able to see the balance on his card. I don't want to login using my credentials on his phone, because then he would be able to transfer money as if he were the parent. When I google this question, the answer I get seems to be only as if I am setting up a checking account for the first time. I already have the account, and I just want him to have visual access, so he's not constantly pestering me, "do I have money on my card????"