Cashless options for kids

[Hedgelj]

More and more of the field trips and excursions my son (15) is going on for school and other extracurriculars are cashless. So I'm looking for ideas that have worked for your family.

Currently tossing around
1) Set up a checking account with his and my name on it that i can control what's in it and easily add funds. Get a debit card for this account inhis name.

2) Get a separate cc with a low limit and get him added as a user.

Other ideas?

 

[Gern186]

Number 1 is a very good option. I'm not a fan of credit cards.

 

[Dannmann801]

If the kid is well-behaved and you trust them, then option #1 would be a great tool to use to teach them money handling.

If the kid is flaky, you can buy a prepaid credit card and limit any loss by what you put on the card, and if they overspend their budget, then they do without.

 

[Sgt Fury]

I know some of my friends use Apple Pay. I’m not familiar with it but it seems convenient.

 

[bowhunter1023]

Lots of good kids debit card options out there. That's our plan with Kaydence.

 

[Quantum673]

Green light is one I have heard about. Don’t know all the details except it is designed for kids with parental controls built in.

 

[Hedgelj]

So greenlight is one some friends use, has a monthly subscription

I decided to try the Chase first banking. It's designed for kids and is free as I do other banking through Chase. Comes with a debit card and I can control it through the same app I do my other banking through.

 

[Hedgelj]

 

[bowhunter1023]

That was what I had in mind. I hate banking with Chase, but when bad shit happens like fraud, they make it right in a way a local bank can't/won't. And because they're so big, things like a kids debit card, are easier to get.

 

[finelyshedded]

Just a thought but never to early to get him started establishing a line of credit and working towards a high credit score. Plus teaching him how to stay within his means.
It would definitely need to be watched closely and hands on cuz it comes with uping his responsibility a couple notches.