Debit Card for Kids: Features, Safety, Limits & How to Apply

Key takeaways: 

• A debit card for kids is a special card which is made for kids to learn how to use money properly. 
• This debit card is linked to their parent’s or guardian account which makes sure that card is used by the kids safely and in limit. 
• The debit cards for kids have an advantage of no cost EMI on leading consumer brands. It also has encrypted technology for secured transactions. 

Bonus tip: 

Do you know? For HDFC Debit Card for kids, you need to maintain a minimum monthly balance of ₹5,000. If not, service charges will be applied ₹150-₹300. 

 Kids can use their debit card to buy things or take out cash but only up to a daily limit. Parents can keep a  track on their spending, get alerts. They can also control how the card is used to keep it safe and educational.

Just like a bicycle has learning wheels to learn driving. Similarly, debit cards for kids help them to learn about money management, spending and saving. Learning wheels prepares a kid for a real bike. Debit cards help them to be prepared for handling real time money management. 

For example, my kid is 13 years old and instead of giving her pocket money, I load her amount of ₹1000 in the debit card. 

With the help of that debit card, she is able to buy her stationary and I can also keep a track on her spending. 

What is debit card for kids

It is a debit card for kids which is linked to the parent’s or guardian cards. Parents or guardians can control the limit of spending, usage of the card, transactions and withdrawals. 

Kids can use this debit card to buy things but within certain limits. Children can learn money management and financial responsibility through the debit card’s practical platform. 

Factors to look before choosing the best debit card for kids: 

Below are certain factors to look before choosing the best debit card for kids: 

• Make sure that there are no charges or zero charges
• The parental or guardian controls should be there to easily access
• Option for online usage should be there
• There should be withdrawal limits for ATM
• Some educational purpose should be there like spending insights

You should keep in mind the above factors while looking for the best kids debit card. 

How to apply for a Debit Card for kids online

There are many banks that offer debit cards for kids in India. Some of them are HDFC Bank, IDBI Bank, IDFC First Bank etc. Below are the steps to apply for a debit card for kids online at IDBI Bank: 

1. Open a savings account if you are a new customer.
2. Complete all the documentation work and KYC. 
3. Apply for the debit card while opening the account or write an email to their official mail ID. 

The Kids Debit Card is issued on the basis of account opening form. 

How to apply for Capital One Debit Card for kids 

Below is the process to apply for capital one debit card for kids: 

1. Visit the official website https://www.capitalone.com/bank/checking-accounts/teen-checking-account/. 
2. Click on the “open account” option. 
3. Sign in if you are already a customer or create a new account if you are a first time user. 
4. Enter the parents details like name and email id for further process. 

Once you successfully open the account, apply for the capital one debit card for kids. 

What are the best reloadable debit cards for kids

Below table shows the best reloadable debit cards for kids along with the reasons: 

These are some of the best reloadable debit cards for kids. 

Conclusion: 

Children under the age of 18 years can easily get the debit card in India but the process involves guardianship and certain conditions to ensure responsible usage of the card. Giving your kids a debit card is a great way to teach them the importance of money management. They learn savings, spending, and financial literacy by using debit cards. However, it is essential for parents and guardians to actively educate and guide their children in using these financial tools wisely.

FAQs: 

Are debit cards safe for kids? 

Yes , debit cards are safe for kids as they have features like parental control, spending limits and fraud protection. 

Which are some of the free debit cards for kids?

There are many free debit cards for kids like Greenlight, GoHenry, Capital One debit cards for kids. 

Are debit cards for kids worth it? 

Yes, debit cards for kids help them to learn money management like spending, savings from a small age. It acts like a financial literacy for them. 

Why do kids need debit cards? 

Debit cards for kids teach them practical money management. It teaches them spending, savings but with parental controls to track their spending. 

How can kids have debit cards issued for them?

Kids can have a debit card through their parents or guardians. They will open a minor savings account in the bank to issue the debit card for their kids.