What Age Can You Get a Debit Card?

A debit card provides a convenient way to access funds in a bank account, enabling purchases and cash withdrawals. These cards are widely used for daily transactions, offering a direct link to deposited money. Obtaining and using a debit card, especially for younger individuals, involves specific age requirements and account types. Access often depends on a person’s age and adult sponsorship.

Age Requirements for Debit Cards

Individuals must be at least 18 years old to open a checking account and obtain a debit card independently. This age requirement stems from contract law, as opening a bank account is a legal agreement. Minors typically cannot enter into such contracts on their own. The legal age of majority, 18 in most states, dictates when a person can legally assume financial responsibilities.

Minors can still gain access to debit card functionality with a parent or legal guardian. Banks offer specific accounts allowing individuals younger than 18 to have a debit card. These accounts usually require a parent or guardian to be a co-owner or primary account holder. While some financial institutions offer accounts for children as young as six, many set a minimum age of 13 for youth checking accounts with debit card access.

Options for Minors to Obtain a Debit Card

Several avenues exist for minors to acquire debit card access, each with distinct features and levels of parental involvement. These options help young individuals learn financial management. The choice depends on the minor’s age, maturity, and desired financial independence.

Joint Checking Account

A common method is a joint checking account, where a parent or guardian is a co-owner with the minor. This allows the minor to have a debit card linked to the account, while the adult retains full access and oversight. The adult can monitor transactions and guide spending habits.

Youth or Student Checking Accounts

Youth or student checking accounts are specific bank products for minors, often requiring a parent or guardian as a co-signer or joint owner. These accounts often feature lower fees or fee waivers, and some may include educational tools. For example, some banks offer such accounts for teens aged 13 to 17, providing a debit card and digital banking access.

Prepaid Debit Cards

Prepaid debit cards offer an alternative that does not require a traditional bank account. These cards are loaded with funds by a parent or guardian, and the minor can only spend the amount available on the card, preventing overdrafts. Prepaid cards can be obtained for children as young as six and often come with parental controls, such as spending limits and transaction alerts.

Custodial Accounts

Custodial accounts, such as Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) accounts, are established by an adult for a minor’s benefit. Some financial institutions may offer debit card access. The adult custodian manages the funds until the minor reaches the age of majority, typically 18 or 21, at which point the minor gains full control.

Applying for a Debit Card for a Minor

The application process for a minor’s debit card involves both the minor and a parent or legal guardian. Financial institutions require specific documentation to verify identities and establish legal relationships. This ensures compliance with banking regulations.

When applying, the parent or guardian will need to provide valid identification, such as a state ID card, driver’s license, or passport, along with their Social Security number and proof of address. The minor will also need identification, including a birth certificate, Social Security number, or a student ID.

The application can often be initiated in person at a bank branch, where both the parent and minor may need to be present. Some banks also offer online application options for youth accounts, though in-person visits might be required for identity verification. During the process, personal details and contact information for both the adult and the minor will be collected.

After approval, the debit card is typically mailed to the account holder’s address. Upon receipt, the card usually needs to be activated, often by phone or online, and a Personal Identification Number (PIN) must be set. This activation step protects the account.

Responsible Debit Card Use for Young People

Learning to use a debit card responsibly is a step in a young person’s financial education. This tool can teach lessons about money management, budgeting, and financial independence. Parents play a significant role in guiding their children toward financial habits.

Budgeting and Tracking Spending

Budgeting and tracking spending are skills to develop. Encourage the young debit card user to regularly review transactions and account balance through online banking or mobile apps. This helps them understand where their money is going and how to manage funds effectively, preventing overspending.

Protecting the Personal Identification Number (PIN)

Protecting the Personal Identification Number (PIN) is important for security. Advise young people to memorize their PIN and never write it down or share it with anyone. Emphasize that the debit card and PIN should be kept private to prevent unauthorized access to funds.

Online Safety

Online safety is an area where guidance is needed. When making online purchases, instruct young users to only use secure websites, identifiable by “https” in the URL and a padlock symbol. Avoid saving card information on websites and be cautious when using public Wi-Fi for financial transactions.

Understanding Common Fees

Understanding common fees associated with debit cards can help avoid unnecessary charges. While many youth accounts offer fee waivers, be aware of potential costs such as out-of-network ATM fees, which can range from $2 to $5 per transaction, or potential monthly maintenance fees if account requirements are not met. Overdraft fees, typically around $35, are generally avoided with debit cards as they only allow spending available funds, but some accounts may have overdraft protection options that incur fees.

Lost or Stolen Card

Knowing what to do if a debit card is lost or stolen is a safety measure. Teach young people to immediately report a missing card to their bank to prevent fraudulent use. Many banks offer features to lock or unlock a misplaced card instantly through their mobile applications.