All of the cards on this list are FDIC-backed. Insider found nine of the fastest-growing venture-backed startups that offer debit cards and financial management services for kids and teens, along with need-to-know details about age requirements and fun extra features. This also allows parents to monitor spending and instantly transfer an allowance if kids complete their chores. The Study will also explore the challenges and supports needed.

Since federal law prohibits children under 18 from opening a bank account, all of these cards need to be linked to a co-sponsor, usually a parent, for a joint account. The FinTech Academy (HKU-SCF FinTech Academy) jointly announced recently a partnership to conduct a FinTech Talent Study (the Study), examining the current and upcoming demand of FinTech talents for the financial services industry in Hong Kong. Most offer physical debit cards and ways for kids to save, while others boast financial literacy lessons and investing features as well. While some of these services come from big banks banks, several startups are racing to corner the market. But gone are the days of cash allowances and piggy banks - more parents are now choosing kid and teen-friendly debit cards and finance apps that are well-suited for today's digital world.

Insider found some of the most popular debit cards and banking apps for kids and teens.Įvery parent wants to give their child the skills to succeed, and.

Startups are racing to corner the market, offering chore, savings, and even investment features.

In today's digital world, debit cards and mobile banking apps are replacing cash allowances for kids.

Fluid app fintech