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Can I get a debit card for a minor or a student?

Curious about debit card

Can I get a debit card for a minor or a student?

Yes, it is possible to get a debit card for a minor or a student, but the process and eligibility criteria may vary depending on the bank or financial institution. Here are some common options:

1. Joint Account with a Parent or Guardian: Many banks offer joint accounts where a parent or legal guardian can open an account on behalf of a minor. In such cases, the minor can receive a debit card linked to the joint account. The parent or guardian typically has control over the account until the minor reaches a certain age, often 18 or 21, depending on local laws and bank policies.

2. Student Accounts: Some banks offer special student checking accounts designed for students who are at least 18 years old and enrolled in educational institutions. These accounts often come with debit cards and may offer features like no monthly fees or lower minimum balance requirements.

3. Custodial Accounts: Custodial accounts are typically established by a parent or legal guardian for the benefit of a minor. While the minor may not have direct access to the account until a certain age, the custodian can manage it on their behalf, including obtaining a debit card linked to the account.

4. Teen or Youth Accounts: Certain banks offer specific accounts designed for teenagers or youth, which may include debit card options. These accounts often have features tailored to the financial needs and education of young individuals.

5. Prepaid Debit Cards: Some prepaid debit card providers offer cards that can be used by minors. These cards are not linked to a bank account but can be loaded with a predetermined amount of money by a parent or guardian. They can be a good option for teaching responsible spending.

When considering a debit card for a minor or student, it's important to research and compare the account options, fees, and features offered by different banks or credit unions. Additionally, parental consent and identification documents may be required during the application process. It's advisable to contact the chosen financial institution directly to inquire about their specific requirements and offerings for minors or students.

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