For teens, prepaid debit cards can provide an easy way to track and manage your money. And they offer the convenience and security of a credit or debit card checking account. For parents, prepaid cards provide a way to track the expenses of their teenage children. And they can give your teens a sweet introduction to money management. For teens and parents alike, the best option among teen cards should be to know the differences. We investigated options to provide you with that information. So now we will talk about the best prepaid debit card for college students.
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What are prepaid debit cards for students?
Prepaid teen cards are the same as other cards on our best list of prepaid debit cards. Teens can use the card to spend the same way. But prepaid teen cards differ in two main ways. Most prepaid cards cannot. Second, a prepaid teen card is usually a “sub-account” of the main card account. The main account belongs to the father. This gives parents control over financing the teen card and monitoring spending. Teens still get their own personalized card with their separate balance. They can use it for ATM expenses and withdrawals in the same way as the main card.
The best prepaid debit cards for teens and students
1. FamZoo Prepaid Card
The FamZoo prepaid card features show a thoughtful approach to the financial management needs of families with teens. The FamZoo card provides educational tools to help teens develop good habits. These features, along with its low cost, are why it tops our list of the best prepaid cards for teens. With FamZoo, parents can automate subsidy payments from their primary card. Or parents can link homework to other tasks or behaviors that they would like to encourage.
2. GoHenry Prepaid Card
GoHenry Prepaid Mastercard is the only card on our list that can be used by children under the age of 13. Children up to 6 years old and young adults up to 18 years old can use the GoHenry card. And parents can set age-appropriate spending rules for each child’s card. Thus, you can prevent your youngest children from using the card online and allow your teen’s additional freedom. GoHenry is turning it off with its mobile app. It gets 4.6 stars for its versions of Apple and Android. With the mobile app (or online portal), parents can set automatic assignments and set fair lists that their children must complete to earn it.
3. Current Prepaid Visa Card
Current is an innovator in the prepaid card space for teens. Noticeable. Over the past year, the current prepaid Visa has added a number of features that set it apart from the competition. For example, the current service station now reimburses your cardholder accounts in minutes. Gas station holdings are when your debit card is charged $ 50 – $ 100 temporarily when you pay at the pump. It will take days for the card to show the actual charge and return the difference.
4. American Express Serve®
The American Express Serve card is one of the lowest cost prepaid cards available. Due to its low fee structure, as well as the ability of users to create up to 5 sub-accounts, we rank fourth among the best prepaid cards for teens. American Express offers three versions of the assistance card: the original service card, the FREE top-up service and the cash-back service.
The basic assistance card charges only $ 1 per month on the main card. There are no monthly fees on subaccounts or activation fees. ATM withdrawals are free through the MoneyPass network. The Serve card offers free top-up options: direct deposit, checking account deposits in the application and bank account transfers.
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