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.