Can my fourteen year old granddughter have a debit card in her name? What is the best card for minors?
A prepaid card that can be loaded with as much money as is determined proper is better than a debit card in this situation. Often these cards may be given as gifts and used and destroyed, or reloaded. Some banks will help you set up an allowance, so an amount you specify is transferred to the card as often as you specify.
If this card is lost or stolen, there is no more risk than the amount on the card.
Some states allow banks to open accounts for minors, but it is up to the bank to issue or refuse to issue a debit card to a minor, most will not.
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A prepaid card that can be loaded with as much money as is determined proper is better than a debit card in this situation. Often these cards may be given as gifts and used and destroyed, or reloaded. Some banks will help you set up an allowance, so an amount you specify is transferred to the card as often as you specify.