Teaching your children about financial management can help them become more money-conscious later in life. Getting them a debit card is a critical milestone in their financial future, but it’s a step that requires responsibility. Below is a comprehensive guide to debit cards and when to choose this option for your kids.

Benefits of a Debit Card for Children

Some parents choose to open an account for their children when they reach high school or get their first job. However, most banks will issue debit cards to children starting at age 13 if the parent is a joint owner.

There are many reasons to consider a debit card when your child is younger. Because they’re linked to a checking account, debit cards can be safer than carrying around cash, which can easily get lost or stolen. The process of tracking payments and reviewing a bank statement is also a useful financial management skill that your child should learn early on. 

The Best Debit Card Options

Look for banks that offer online monitoring options. This lets you track your child’s spending habits from your smartphone or tablet, which is especially important if they aren’t making their own money yet. Many banks also offer checking and savings account options with overdraft protection; this means if your child takes out too much money from the checking account, it will automatically pull from their savings without charging any additional fees. You should also look for accounts with easy access to ATMs and the ability to set spending limits.

When it’s time to open a checking account for your child, turn to Talbot State Bank. Since 1906, the locally owned financial institution has offered a variety of banking services to residents and businesses throughout Fayetteville, GA, and surrounding areas. From checking and savings accounts to credit cards, debit cards, and online services, you can count on their bankers to guide you through the best options for your family’s needs. Call today at (770) 692-0900 in Fayetteville or (706) 674-2215 in Woodland to speak with a representative. Visit their website for more information on their offerings.