Debit Card / Bank Account for Kids

bluespider on 31/01/2025 - 10:13
Last edited 31/01/2025 - 10:21 by 1 other user

Hi Guys,

Have a high school-er needing debit card, so looking for best option to open the bank account.

Things I am looking for are:

  • able to put/keep min of $20 onto the card without any monthly/ongoing fees
  • able to get SMS for each transaction instantly
  • any joining bonus from bank or referee is a plus

Thanks.

Financial Debit Card

Comments

  • Duckie2hh on 31/01/2025 - 10:14

    Most banks won't have fees for kids.

    any joining bonus from bank or referee is a plus

    doubt.

  • MrHyde on 31/01/2025 - 10:28
    +1

    We've set up Great Southern Bank accounts for our kids. Good interest rate and provides for separate saving and spending accounts. Can set up the debit card on their devices and also allows parents to monitor their accounts. and no fees / no minimums.

  • zathras on 31/01/2025 - 10:42
    +1

    This meets at least two of your criteria, not sure about the SMS alerting though…

    https://www.peopleschoice.com.au/campaigns/everyday-living-o…

    • Get yourself a bank account that works for you. Our Everyday Living Account gives you digital access to transactional banking with no monthly administration fee. It can be accessed easily through our Mobile Banking App, Internet Banking and Phone Banking, offering unlimited transactions on a range of transaction types. Funds can also be accessed through ATMS, EFTPOS, payWave, Bank@Post and Visa Debit Card. Become a new member and open your Everyday Living Account and we’ll reward you with $50.*

    The Offer commences on Monday, 2 December 2024 and closes at 5:00 pm ACDT on Wednesday, 30 April 2025 (Offer Period).

    To participate in this Offer, you must not currently be a member.

    During the Offer Period, to receive the Cashback Amount, the following conditions apply:
    (a) You must become a personal member and open an Everyday Living Account no later than 2 days after the personal membership opening.
    (b) All accountholders of the new Everyday Living Account must meet the eligibility criteria in clause 5.
    (c) The new Everyday Living Account will receive a maximum of one (1) Cashback Amount irrespective of the number of accountholders.
    (d) If an account with multiple accountholders receives the Cashback Amount, all accountholders are considered to have received the payment.
    (e) An accountholder will receive a maximum of one (1) Cashback Amount irrespective of the number of Everyday Living Accounts opened.

  • Caped Baldy on 31/01/2025 - 11:24

    I'm a big fan of Macquaire Bank. No fees yet. The app is good and get app notifications for purchases.

    HSBC has 2% cashback on paywave purchases less than $100. But the app is not great.

  • Benoffie on 31/01/2025 - 11:52

    We tried a few and ended up back with NAB

    • no fees
    • they can and will link the child and parent accounts, even after they're 18. This is a massive deal for us. I can go into my app, see their debit card balances and transfer immediately. No need to stuff around with endless texts to kids. It also means I see their spending and get their alerts.
    • yes, they can still have a stand alone account and a high interest account
  • Bruceflix on 31/01/2025 - 12:54

    If they are 16+ then Ubank.

  • smarter_fool on 31/01/2025 - 14:08

    If you have a Revolut account then ordering a card for your child is free. You have heaps of control on what they can do/can't do i.e. tap, Online transactions, ATM withdrawals etc.

  • techno2000 on 31/01/2025 - 14:22

    If this is just for paying for their lunch etc, Then the Prepaid Australia Post Everyday Mastercard is an option.

    https://auspost.com.au/money-insurance/prepaid-cards/everyda…

    I have given it to my son.Its in my name though.

    I can see transactions and do free topup from any debit card using the app.

    I will get him a debit card in the future but for now this does the job well enough.

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