Author Topic: Debit card for teens...anyone use Capitol One MONEY?  (Read 619 times)


  • Stubble
  • **
  • Posts: 164
Debit card for teens...anyone use Capitol One MONEY?
« on: July 25, 2018, 08:31:09 PM »
My son turns 16 tomorrow and we have been thinking about getting him his own account with a debit card. He doesn't have a job (yet) so I will start him off with a small amount and will make monthly deposits for gas money. I looked at the options where I do my banking, Chase, and everything seems to have fees out the wazoo! So I started looking around for other options. Enter Capitol One MONEY account for teens. It doesn't have any monthly fees, you get a debit card but no paper checks, both parent and teen have online access to check on transaction,make deposits, etc. Seem like it is exactly what we are looking for. Just wanted to check the collective wisdom here before choosing an account. Anybody have experience with it?


  • 5 O'Clock Shadow
  • *
  • Posts: 13
Re: Debit card for teens...anyone use Capitol One MONEY?
« Reply #1 on: July 26, 2018, 07:01:47 PM »
No experience with Capital One Money unfortunately, but have successfully used a teen account with Alliant Credit Union for this purpose.  You may want to check it out.  No fees for her, and she gets a debit card (ie not just an ATM card).  Minimum age is 13 with a parent joint owner.  She also got paper checks which she has never used (I felt soooo old trying to explain the concept to her LOL)

I also have an Alliant CU account for checking, savings, and credit card.  Also no fees, interest rates for the savings (and even the checking) are pretty competitive, and the credit card offers 3% cash back on everything which is awesome (provided you pay off the balance each month, of course).  Daughter doesn't get any interest on her account I don't believe.  Daughter's account is just an extension of mine.  (And no, I don't get paid by them or anything...!)

Overall, I like the idea of the kids getting a debit card like this.  Its a great way to introduce basic banking concepts to her (ie balancing a checkbook, etc), and I can monitor the balances and intervene if things get out of control.  Also seems a lot more secure than having to carry cash everywhere.  All of the money she receives from gifts, working, etc goes in there.  Has had it for about a year and has not abused it yet, so keeping my fingers crossed that this continues.

Unique User

  • Pencil Stache
  • ****
  • Posts: 648
  • Location: NC
Re: Debit card for teens...anyone use Capitol One MONEY?
« Reply #2 on: July 27, 2018, 03:07:58 PM »
My 16 year old has a BOA student account with a debit card and a savings account.  No fees and there is a branch near her job so she can deposit checks and tips.  She deposits her checks, then transfers to her savings on the mobile app.  I have a BOA account also ($1,750 balance means no fees) and I can transfer money to her account when she buys books, etc.  Like the previous poster, I like how I can log in and monitor and it is more secure than cash.