Chase First Banking Review Best Debit Card for Kids and Teens?
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The difference between this debit card and a typical bank card is its built-in parental controls. With it, you can: Restrict your child from spending at certain merchants or in certain merchant categoriesSet limits around how much your child can spend on specific types of purchases, such as “$15 at restaurants”Limit how much your child can spend overall, such as “$30 to spend anywhere”Limit how much your child can withdraw from ATMs You can set up text alerts to be notified in real time when your child makes a purchase, cash withdrawal, or certain other account actions. There’s no charge for alerts, but your carrier’s message and data rates may apply.
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Close menu Advertiser Disclosure Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. MoneyCrashers.com does not include all banks, credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others. BankingChase First Banking Review – Best Debit Card for Kids and Teens?
By Brian Martucci Date September 26, 2022FEATURED PROMOTION
Our rating
4 2 5
Sign Up For Chase First BankingPros
No monthly service fee and few potential fees Easy to customize parental controls Easy allowance and chore paymentsCons
Requires a linked adult Chase checking account No direct deposit No investing platform or education You’ve been teaching your kid about money since they could talk, and it finally feels like they’re starting to figure it out. They may or may not be known to throw side-eye when you pull out your credit card for questionable purchases at the supermarket or department store, for example. Embarrassing? Sure. But you couldn’t be prouder. Because your kid is ready to take the next step and claim a debit card of their very own. With strict parental controls, of course. Enter Chase First Banking, a debit card for kids and teens that’s available exclusively to Chase checking families. With no monthly service fees and a powerful mobile app, it’s a cost-effective way to help kids eager to manage money of their own build sound financial habits under their parents’ watchful eyes. Read on to find out if it’s right for your family.How Chase First Banking Stacks Up
Chase First Banking isn’t the only FDIC-insured debit card built for kids ready to take that first step toward financial independence. It has a lot of competition from kid-friendly financial apps like Greenlight, which pairs a parental control debit card with digital banking capabilities and a basic investing portal. Here’s how the two compare. Chase First BankingGreenlight Monthly Service Fee$0$4.99 and upParental ControlsYes, spending limits, merchant limits, withdrawal limits, and account alertsYes, same as Chase First BankingIn-App AllowanceYesYesInvesting FeatureNoYesOpen to EveryoneYes, but the parent must be a Chase checking customerYesKey Features of Chase First Banking
Chase First Banking has just about everything you need to help your kid gain the confidence to manage their day-to-day spending money and longer-term savings. And everything you need to feel confident you’re still in control of your household finances.Account Eligibility and Opening
Chase First Banking is a parent-owned account that’s designed for joint use by parents and kids. As the parent on the account, you own and fully control it, and you can close it at any time without your kid’s permission. To open a Chase First Banking account, you must have another eligible Chase checking account for adults — such as Chase Total Checking, Chase Premier Plus Checking, Chase Secure Banking, or Chase Private Client Checking. You can find the current list of eligible accounts on the Chase personal checking page.Age Restrictions
Chase First Banking is designed for kids between the ages of 6 and 17. You can’t add a child under age 6 to the app, and kids 18 and over may qualify for other Chase accounts.Debit Card With Parental Controls
Chase First Banking is built around a Visa debit card that can be used with any merchant that accepts Visa payments.The difference between this debit card and a typical bank card is its built-in parental controls. With it, you can: Restrict your child from spending at certain merchants or in certain merchant categoriesSet limits around how much your child can spend on specific types of purchases, such as “$15 at restaurants”Limit how much your child can spend overall, such as “$30 to spend anywhere”Limit how much your child can withdraw from ATMs You can set up text alerts to be notified in real time when your child makes a purchase, cash withdrawal, or certain other account actions. There’s no charge for alerts, but your carrier’s message and data rates may apply.