The Copper Debit Card and App comes with a range of benefits and drawbacks. The low interest rate has proved off-putting for some. You’ll only earn 0.001% APY with Copper, whereas other teen accounts generate up to 0.25% APY. Nonetheless, many parents are opting for Copper due to the host of educational tools that have been built into the app.
Another good reason for choosing Copper over many of its competitors is that it allows you to earn rewards when your friends or family members sign up. Sometimes, rewards are unavailable but you’ll be given a notification if there is a chance to earn a reward. To refer someone to Copper, you can use a referral link sent to you by the bank.
If you want to get in touch with the team at Copper, you can send an email to firstname.lastname@example.org. You can also reach them via social media. Copper can be found on platforms including LinkedIn, Instagram, Twitter, Facebook, Snapchat and Tik-Tok.
It’s commonly said that many teens in America lack the financial education they need to make sensible monetary decisions. Personal finance skills are still rarely taught in high school, which means it’s often left to parents to teach their kids the money management techniques they need to prosper in life. The Copper Debit Card and App have been designed to address this and give parents more control over their kids’ spending. If a child wants to sign up for the Copper Debit Card and App, they will need approval from a parent or guardian.
The nature of the modern world and the rise of contactless payments has made it very sensible for families to embrace digital banking. Parents can send money for allowances, emergencies and more immediately without losing visibility on how and where money is being sent. Families can take a lot of kids’ spending history to assess spending and saving habits, identifying areas where improvements could be made. Positive financial behavior can also be identified and rewarded.
If you’re a parent who wants to give your child more financial freedom without losing visibility, and you want to teach your offspring valuable money management skills at the same time, Copper may be right for you and your family.