Prepaid Cards & Teen Checking

(Image credit: This content is subject to copyright.)

published 4 July 2017

My 13-year-old son is flying alone to go to summer camp in Colorado. I’d like him to have access to extra money in an emergency, but I think he’s too young for a credit card. What do you suggest? --H.T., Lynchburg, Va.

What We Learned From Mom and Dad About Money

Or you could open a checking account for him. Wells Fargo’s account for teens 13 to 17 requires an adult co-owner but gives the teen a Visa debit card and makes it easy for parents to transfer money from other accounts and for teens to make deposits. There’s no monthly fee if you sign up for online-only statements. Alliant Credit Union, which was Kiplinger’s runner-up for Best Banks for Students, offers free teen checking with no activation or minimum balance fees.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

https://cdn.mos.cms.futurecdn.net/hwgJ7osrMtUWhk5koeVme7-200-80.png

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Topics

Ask Kim

As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.