Hey, kid! Are you older than 6 years, younger than 17? I have a debit card for you. It’s the Chase First Banking card and it’s for kids. Want to hang in there to hear more about it? Awesome, let’s go for it! Parent alert: Hang around as well, it’s relevant to you too.
The thought of having your very own debit card may sound exciting, but some of you may be thinking “Why in the world does my kid need a debit card?? Are we on to getting him a house next?!”
It’s a good question, but I have an even better answer.
A debit card for a kid is a hands on experience for learning money management. Kids debit cards allow them to earn money, save it, and spend it. A kids debit card also has features for allowing the parents to control the card while keeping their hands off, all at once. Some cards have more parent control, some less. Those two factors make a kids debit card a wonderful tool for getting kids into the financing world at a young and tender age. When they’re old enough to use money, but young enough to let themselves be taught how to, without being smart alecks.
Why a debit card for kids?
Before we check out the Chase First Banking card, I think some of you out there may need a bit more convincing as to what a kids debit card is good for.
- Parental control. At age 6, a child is too young to get a wad of cash to use to his liking. But it’s the perfect age for the child to get a preloaded card to use under his parents watchful eyes.
Depending on the debit card, parents can;
- Transfer funds into the kids account or onto the kids card, manually or as recurring transfers
- Set general spending limits or on specific categories (such as $10 at the grocery, $25 at the department store, etc.)
- Get alerted when the kid uses the card
- Review the card balances and transactions
- Accept or deny the kids request for money
- Set up chore lists with rewards
- Kid features. This is about the kid after all. With a debit card, kids learn really great skills for financing.
Depending on the debit card, kids can;
- Get funds straight to their card
- Request money from their parents
- Set up savings goals and save money towards the goals
- Decide where to spend their money
- Review the card balances and transactions
- Calculate how much money is left, what is worth buying, how much to save, etc.
- Use the mobile app to do quizzes, games, and read up info on finances in a fun and child friendly way
- Earn interest
The Chase First Banking card
The Chase First Banking card, pretty new on the market, is specifically geared for kids and teens aged between 6-17 years old. To qualify for the card, a parent of the card owner (aka parent of the 6-17 year old child/teen) must first become a Chase customer. The parent who creates the Chase account can later manage the Chase First Banking card and account.
The parents open a Chase First Banking account with the child. The account works as a checking account. Parents and the kid alike, get access to the account. The child gets his own Chase First Banking debit card.
Chase First Banking features
Now that the child has his own debit card, he’s ready to start banking.
What’s so great about the Chase First Banking card?
The Chase First Banking card is powered by Greenlight, which is a top kids debit card. The Greenlight card has features such as setting spending limits, setting up interest, a mobile app, and more, but the card has card fees. On the other hand, the Chase First Banking card is completely free, having no card fees. So with the Chase First Banking card, you get great Greenlight features for free. The Chase First Banking card also does not have any foreign transaction fees, so your child can even use his card while away in summer camp or on family vacay trips.
Everything about the Chase First Banking card can be accessed on the mobile app. The app is easy to use, even for the kid.
The Chase First Banking card has advanced parental control.
Here’s what you as a parent can do with the Chase First Banking card account:
- You can set spending limits for how much your kids can spend in specific places. You can set $3 for the candy store, $20 at the grocery, etc.
- You can set limits for the amount your child can withdraw from the ATM.
- You can use ATM machines at 16,000 Chase ATMs, and pay no fees
- You can set up to get alerts when your child uses his card.
- When your child sends you a request for money, you can choose to accept it and send the money, or to decline the request.
- You can transfer money straight to your child’s account, or directly to your child’s savings goals.
- You can set up recurring payments to give your child his allowances.
- You can assign a chore and then pay your kid when he gets the job done.
With the Chase First Banking card, your child or teen can do the following:
- Your child can use his card to spend money on purchases in store or online.
- Your child can request money from you.
- Your child can get money through transfers from you.
- Your child can withdraw money at 16,000 Chase ATMs.
- Your child can set up savings goals and put in money to save.
- Your child can use the mobile app for all transactions!
- Your child can earn money by completing tasks, and get his allowance through recurring payments
That’s how your child or teen can learn to spend, save, and earn money under your watchful eye.
Chase First Banking welcome offer
You may get a welcome offer! You get $25 to your account if you open up the Chase First Banking card before 09/02/2021.
Get your Chase First Banking card today and watch your kid become a young and vibrant business lad!