There are many options for teenagers when it comes to debit cards, but which one is the best? Take a look at the best prepaid cards for teenagers below!
Why is it important to check out the best prepaid cards?
Prepaid cards have been around for some years now, there are many different services that allow you to add money to a card and spend in shops. However, the majority of these cards are extremely basic and complicated to activate and use. Also, when things go wrong such as losing your card or even worse, the card getting hacked, there is barely any support. Luckily, there are services that are backed up by stable and secure companies based purely online. These companies generally offer protection against fraud and easy to use mobile apps meaning access can be controlled via your phone.
Pre paid cards in the UK
The UK has plenty of options for pre paid cards, especially for parents who have younger children or teenagers. For the UK Market, the gohenry debit card is the leading company who provides a fully customizable children’s debit card and a smart phone app with parental controls. Although there are monthly fees for most services, they are still classed as pre paid cards as you can top up the balance from another payment source. In the US the best kids debit card is Greenlight. They are constantly adding new features that help to teach the value of saving money and budgeting depending on goals.
Debit Card For Under 18s
Up until now, the only option for under 18s debit cards was the traditional bank offerings. Often limited in features and complicated to apply to, these cards are thankfully now a thing of the past. The debit cards suitable for under 18s are now extremely easy to apply to and set up, without having to physically visit a branch. All of these cards can be 100% controlled by parents to allow best practices in finances to be taught from a young age. You can even limit the type of transactions in particular stores if this is a concern for you as a parent.
Prepaid Cards with sort code and account number
Most basic prepaid cards are simply designed to only be used for basic transactions either online or in store. Finding a debit card with support for bank transfers with a sort code, account number or BIC/SWIFT capability is quite rare. Luckily, the cards mentioned on this page have an actual bank account behind them meaning payments can be sent and received as bank transfers. This is a common reason people choose the cards mentioned over standard limited prepaid debit cards. Many parents ask the question, What is the best prepaid card for my teenager with a sort code? The answer depends on where you live. If you are in the UK then, it’s probably going to be gohenry. If you are in the US its most likely going to be Greenlight.