How To Put Money On Movo Card

debit cards for kids

Debit cards for kids can be useful tools as you teach your children. When my oldest child turned 16, I wanted to make sure she knew how to make wise financial decisions.

I also wanted my daughter to get some real-life experience regarding using checking accounts and credit cards. So I got her her own debit card.

This review of debit cards for kids and teens can help you find a card that will teach your teen as well. Continue reading to learn more about which cards we reviewed.

Our Top Picks

COMPANY	FEATURES
Greenlight	No minimum age or balance. Has chore management feature
BusyKid	Low cost option, ability for other people to add money
FamZoo	Track activity, free ATM and low minimums

In This Article

Top Debit Cards for Kids
- 1. Greenlight
- 2. FamZoo Prepaid Mastercard
- 3. GoHenry
- 4. BusyKid Prepaid Visa Spend Card
- 5. Copper Banking For Teens
- 6. Current Account For Teens
- 7. American Express Serve
- 8. TD Go Prepaid Visa
- 9. Movo Prepaid Card
- 10. Akimbo Prepaid Mastercard
Why Should I Consider a Prepaid Card or Debit Card for My Child?
- They Help Put Limits on Spending
- They Give You a Birdseye View
Comparison Chart
Summary

Top Debit Cards for Kids

Check out the list below and see which of these debit cards will work best for helping you teach minors to manage money.

1. Greenlight

Great chores app
Includes investment option
Low monthly fees
Free expedited shipping on debit card

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Greenlight is a debit card that is made for kids but managed by parents.

It has several great features:

No minimum age
No minimum balance
Free from overdraft fees
Available debit cards for up to five kids

It also has a chore management feature and an auto transfer of funds feature. Parents can even choose an auto feature that will pay their kids interest if they want.

You can try Greenlight out for a month; after that you'll pay $4.99 per month for up to five kids. Check out Greenlight+ Invest if you want to use the card to help your child start investing.

Trustpilot: 4.3 out of 5

2. FamZoo Prepaid Mastercard

60 day free trial
Digital IOU account style
First four prepaid debit cards are free
Small monthly fee

Learn More Our Review

The FamZoo prepaid cards were set up for the sole purpose of helping kids learn good money management skills.

The company's prepaid card offers the following features:

Free card reloads (when you direct deposit money – retailer reloads will cost you)
Free ATM visits
Monthly fees as low as $0.63 per month
No per-purchase fees

The FamZoo card can be opened for any age child – from preschool on up. However, kids under 13 will have "on-behalf" cards where the parent is the legal cardholder.

Kids age 13 and up (and their parents) will need to go through an easy verification process to be approved. And all FamZoo accounts must have at least one parent as an account cardholder.

Apple Store Rating: 4.6 out of 5

3. GoHenry

Good parental controls and spending limits
Charitable giving options
Easy to set up weekly allowance
Customize your debit card

Learn More Our Review

GoHenry is a family banking tool that helps you teach your kids how to handle money. Here's how it works:

You start by opening a bank account in your (the parent's) name. The "parent" account is a control center for up to four "child" accounts.

You put money into the parent account by transferring it from your main bank account.

As the parent, you can transfer money into each child account as you wish. You can set up regular, automated transfers, or you can make random transfers.

This is a nice feature because you can use it to teach your kids the concept of "work equals pay". For instance, you can transfer $5 into a child's account when they complete a pay-worthy chore.

Each child gets a debit card to spend the money you've transferred into their account.

Other features of the GoHenry debit card include:

The ability to set single and weekly spending limits
Choose where the card can be used (ex. at ATMs, online or in-store)
Block and unblock cards with the touch of a button
Receive real-time notification of purchases/expenditures

For our readers in the UK, Go Henry UK is offering a 2 months free promotional offer.

Trustpilot: 4 out of 5

4. BusyKid Prepaid Visa Spend Card

Great for learning money management skills
Investing and charitable giving options
Up to 5 debit cards at low price
Minimal parental control on spending

Learn More Our Review

BusyKid is a prepaid Visa spend card with a variety of features. Here's how it works.

You use the BusyKid prepaid card to give your child money. Simply assign an amount to be put on the card every week.

You can also tie the money to completed chores with the BusyKid chore app.

When your kid wants to spend their money, they can use the prepaid card at stores as they choose. Bonus: the BusyKid chore app also allows your kid to give to charity and invest.

Trustpilot: 3.8 out of 5

5. Copper Banking For Teens

No monthly fee
Works with Apply pay, Google Pay and Venmo
Easy to set up savings goals and track spending
Get up to 4 debit cards per each child

Visit Site Our Review

Copper Bank prides itself on creating a debit card and app just for teens. Their focus is built on kids ready to be a part of today's gig economy.

Located in Seattle, Washington, Copper Bank is becoming one of the fasted cards for teens. Its popularity stems from their app that is easy to use.

The app is great for setting up savings goals as well as tracking spending. Track spending, create savings categories and even set up auto contributions to categories such as college fund or a car fund.

Funding to the teens Copper Wallet is done through a parent account which is linked to an existing account with a different bank. Parents refill the child's Copper account as needed or auto refill.

Additionally, refilling the card can be done by setting up direct deposit. For teens with jobs this is a great feature having funds sent directly to their Copper checking account. Plus you can tie the card to Venmo and CashApp.

Here are some of the features of Copper Banking account:

App teaches financial literacy skills
Buy where Mastercard, Google Pay, Apple Pay are accepted
Zero liability protection plan
No overdraft fees. No minimum balance. No Credit Checks
Withdraw cash at over 50,000 ATM's nationwide
Deposits are FDIC Insuredthrough our partner, Evolve Bank & Trust

Apple Store Rating: 4.8

Google Play Rating: 4.7

6. Current Account For Teens

Rewards debit card
Round up on purchases to build savings
Full parental control
Set up autopay for allowance

Learn More Our Review

Current was founded with the goal of making banking affordable for everyone.

When you open a Current account for yourself, you can also open Current Teen Accounts for your teens.

Teen account features include:

$0 account minimum balance
Purchase in person or online with the Current debit card
$36 annual fee
Add to your savings pod by transferring or using roundups from purchases

As a parent, you get total control features over your teen's spending too. You get notifications for all purchases and you can set spending limits for your teen.

You can also block certain merchants, automate allowance payments or transfer money manually from your Current account.

And you can tie allowance to a chores list as well. Also, multiple family members can add money to your teen's Current account.

Note that your teen does need to have one of three forms of photo IDs to get a Current Teen account: A valid and unexpired drivers license, a valid and unexpired passport or passport card, or a valid and unexpired permanent resident card.

Trustpilot: 4.2 out of 5

7. American Express Serve

Early direct deposit
Free online bill pay
Cashback debit card option

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The American Express Serve card has three card options. Which one works best for you depends on your teen's usage and spending habits. We'll outline the features and fees of all three here.

American Express Serve Pay As You Go

The American Express Serve Pay As You Go card is Amex's most popular prepaid debt card.

Here's a list of the features that come with the card:

Free Early Direct Deposit. This feature that allows you to receive availability to Direct Deposit funds up to two full days earlier
Free online bill pay
$2.25 ATM fee
Cash reload prices of up to $3.95 per load (price varies by retailer)
$1 transaction fee

American Express Serve Free Reloads

The American Express Serve Free Reloads card is best for those who add frequent reloads onto their card.

Here are some of the other features of this card:

A monthly fee of $6.95 (no fee in TX, VT or NY)
Free online bill pay
Fee-free ATM withdrawals (At Money Pass ATMs)
Free reloads

If you find your teen is needing to reload their card with money often, this might be the best choice for you.

American Express Serve Cash Back

The American Express Serve Cash Back card is likely most beneficial for bigger spenders.

Here are some of this card's features:

A monthly fee of $7.95
Free online bill pay
Free ATM withdrawals (at Money Pass ATMs)
Cash reload prices of up to $3.95 per load (price varies by retailer)
Unlimited cash back of 1% on all purchases

So, depending on what the spending habits are of your kid, you have three American Express cards to choose from.

Consumers Affairs: 3.5 out of 5

8. TD Go Prepaid Visa

$0 monthly fees
Checkless account
Email notifications

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The TD Go Prepaid Visa is a product of TD Bank. TD Bank uses the Visa Buxx prepaid card for teens.

Here are some of the features of the TD Go prepaid debit card:

$0 monthly service fee
$0 purchase fee
Free ATM usage in-network
$1 for card reloads
$2.50 per month for inactivity (after 12 months with no transactions)

This is a very affordable option for teens and parents alike. Parents can also set up email notification to keep abreast of card balances and expenditures.

Truspilot: No ratings yet

9. Movo Prepaid Card

$0 monthly fees
Digital prepaid card
Fund card via Paypal or direct deposit

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Movo helps keep online purchases your teen makes safe by creating a pass-through account number for online transactions.

You can also request a physical Movo prepaid card your child can use locally. There are no fees for the Movo card. However, you will get charged if the card is inactive for more than 90 days.

You can fund the card from your checking account, from PayPal, or via Direct Deposit.

Trustpilot: 2.6 out of 5

10. Akimbo Prepaid Mastercard

Easy to set up direct deposit
Simple to transfer funds to prepaid debit card
Cash reload locations option for a fee

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The Akimbo Prepaid Mastercard lets you create a prepaid account for nearly any purpose.

You can use it for your grocery budget, your entertainment budget, or your kid's allowance budget.

Here are some of the features of the Akimbo prepaid debit card:

No fees for purchase transactions
$0.99 fee for purchases requiring PIN usage
ATM cash withdrawal fee $1.98
$5.95 cash reload fee

There are some great benefits to the Akimbo prepaid card but you may find the others more beneficial and cost effective.

Trustpilot: 1.9 out of 5

Now that we've talked about some of the best prepaid cards and debit cards, here is some more useful information.

Let's talk a bit about why you might want to consider getting a prepaid or debit card for your teen.

Why Should I Consider a Prepaid Card or Debit Card for My Child?

You might be wondering why you should consider getting a prepaid card or debit card for your minor child.

While we at Well Kept Wallet don't advocate carrying monthly credit card balances, we do believe it's important to help your child learn to navigate the world of credit and spending.

A prepaid card can help him or her to do just that. When your child has a prepaid card or a debit card, they can spend money electronically.

Like it or not, the electronic world of financial management is here to stay.

And that electronic spending world does have its benefits, especially for parents whose kids are learning about money.

Prepaid cards and debit cards can help your child learn about money while helping you keep an eye on their spending.

Electronic money management helps people see where every dime they earn goes each month. And that knowledge can be a valuable tool in the world of adult money management.

They Help Put Limits on Spending

One nice thing about these types of debit cards for kids is that they allow you to impose a spending limit for your child.

An unrestrained budget in the hands of a teen can give them the illusion that money will always be there.

However, with prepaid cards you can make a rule that you'll put X dollars in your child's account each month.

This spending limit will help them to learn to live in real life where one's money supply isn't endless.

It will help them learn that they need to make choices about how they spend their money. If their monthly cash allowance runs dry, they can learn what happens when money runs out before month's end.

They Give You a Birdseye View

Adding to that, prepaid cards and debit cards let you see every one of your child's purchases. This benefit makes way for conversations about value-based spending.

Simply put, value-based spending means spending your money on the things that matter most to you.

As your child sees their spending habits at a glance, they can learn to identify important vs. non-important purchases. For instance, they might decide that a trip to the movies with friends is a value-based spending choice.

Conversely, they might decide that daily trips to the fast food drive thru are not important.

As they (and you) get that birdseye view of monthly spending choices, they'll learn an important truth.

They'll learn that they need to decide which spending choices help them make the most out of life. They'll also learn that some spending choices simply waste their money.

This type of financial management training can help your child develop wise money management habits in adulthood.

Prepaid debit and credit cards may not be for every child, but they can do wonders for one's financial education. Consider prepaid cards and other financial education tools as you raise your young ones.

Prepare them for a life of financial responsibility and security made by their own hands – with some help from you.

Comparison Chart

COMPANY	TRUSTPILOT SCORE	MONTHLY FEE
Greenlight	4.3	$4.99
FamZoo	4.6	$0.63
Busykid	3.8	$1.67
GoHenry	4.0	$3.99
Current	4.2	$3.00
American Express Serve	3.5	$6.95
TD Go Prepaid Visa	Not Rated	$0.00
Movo	2.6	$0.00
Copper Bank	Not Rated	$0.00
Akimbo Prepaid Mastercard	1.9	$0.00

Summary

Helping your kids learn good money management skills is a must in today's world. When they learn to properly manage cash through the use of prepaid cards and debit cards, life becomes easier.

And when they use the other financial management tips shared here, they've got tools to make money management fun.

How To Put Money On Movo Card

Source: https://wellkeptwallet.com/debit-cards-for-kids/

Posted by: andrewshingeathist1980.blogspot.com

How To Put Money On Movo Card