Want to give your teenager a teen-y bit more control over their money?

We’ve reviewed all of the best teen debit cards for you. First, let’s figure out why you may want to get a teen debit card. These types of cards are relatively new to the market. Teen debit cards are typically Visa, MasterCard, American Express or Discover cards that can be used anywhere these card brands are accepted.

The key feature of a teen debit card is that parents can control how and where the cards are used, as well as monitor how their teens use the cards. Parents set up the card, load money onto the card, and set up whatever parental controls are needed to make sure their teens use the cards responsibly.

Parents Love Them

Here’s why:

• These cards are a great financial education tool as the cards help your teen learn budgeting through managing the prepaid amount on the card.
• Most teen debit cards have parental control with online tracking of purchases and spending limits, making it easy to address financial responsibility.
• These cards are safer than cash because if it’s lost or stolen, you are protected. You’ll pay nothing for unauthorized purchases.
• They provide peace of mind in case of emergencies, while your teen is traveling, or for everyday errands.
• These cards are a convenient alternative to running to the ATM every time your teen needs money.

Teenagers Love Them Too!

• A teen card gives your teen the independence to make responsible purchases without having to borrow a credit card or carry lots of cash.
• The cards are flexible. Kids can use them almost anywhere (depending on how the parent sets up the controls).
• Teens like that these cards are smarter than cash because they allow teens to learn about financial responsibility and managing their own budget.
• Kids love the security they provide — only your teen can use the card, and online account information is password protected.
• Your teen will always get the gift he or she wants — give the gift of cash by authorizing family or friends to put money on the teen card. It’s faster and safer than mailing a check or giving cash.