What Age Can You Get a Debit Card in the UK

Whether you’re a pre-teen or teen and you’re wondering about getting a debit card for yourself or you’re a parent who’d like to get a debit card for your child, this blog post answers all your questions regarding this important step and decision in life.

Why do debit cards have age limits?

Many countries worldwide impose age limits for when a person may be considered an adult.

An adult is someone considered to have the capacity to make decisions and enter into legal transactions or legally binding contracts.

In some cases, these age limits are 18 years, while in others, they may go up to 21.

When should a child have a debit card?

Every child and parent relationship is different, which is why there is no set age at which you should give your child a debit card.

However, it is commonly assumed that by age 12, children can do basic arithmetic and have some form of understanding of the consequences of their actions. This is considered a good age to give your child a debit card.

On the other hand, if you feel your child can handle the responsibility, you can start at a younger age. Alternatively, you can begin at a higher age if you feel they need more time to mature.

How to choose the best bank account for your child

If you’d like to get a debit card for your child, it will be accompanied by a checking account or a children’s bank account, which can be accessed through a physical branch at your bank or managing the account online.

There are certain features you should look out for when selecting the best account for your circumstances:

Spending limit

Debit cards can come with daily withdrawal and spending limits.

This will help teens budget and teach them new and important skills in managing their own money when they wish to withdraw cash or make payments or online purchases.

Fees

There are several banks and building societies which offer debit cards and kids’ bank accounts. Some charge ATM fees, while others don’t. In addition, you might, in some cases, be able to get ATM fee rebates. 

Furthermore, find an account that doesn’t have a monthly fee. 

Simple monitoring and transfers

Choose a normal bank account that enables you to make transfers to your child’s account simply and monitor it. 

In some cases, you’ll be able to set up transaction alerts to be aware of when purchases have been made and for what amount. 

Mobile wallet compatibility

The rising popularity of mobile wallets such as Apple Pay, Google Pay and Samsung Pay are another factor for consideration. Mobile wallets are a safe and secure way of making payments. 

Ensuring your child’s account is compatible with a mobile wallet, you can rest assured that they’ll be able to use a user-friendly mobile app.

Interest rates and direct deposits

If your child has a part-time job, they can set up a direct deposit into their checking account and earn interest on their payments, which will be paid into their bank accounts. 

Be sure to compare the different interest rates and see whether the interest is capped or not. 

Rewards

Make sure to check for incentives,such as a percentage cashback with certain retailers.

This way, your child can take full advantage of all the benefits when they spend money. 

Customer service

Customer service is critical for children as much as it is for adults. 

Ensure that there’s effective customer service that can help your child in the event of a lost card or if they need help in managing their account.

What are the ways your child can own a debit card?

Wondering at what age you can get a debit card? In the UK, a child can get a debit card with an accompanying checking account at the age of 11.

There are several different account types for children and teens up to age 17, and you should consider the above-mentioned factors when making your decision.

Now that we’ve discussed the age limits, there are other aspects you should be aware of when opening an account for your child.

Opening a bank account

For example, your child can either apply for an account in-branch (some banks require the child to be accompanied by a parent or legal guardian to help them fill out the forms) or apply online.

In addition, certain documentation will be required, such as an ID, proof of address, a provisional driving licence or other form of identification. 

Purchasing prepaid cards

If your child is eight-years-old or older, you can also consider preparing them for the world of finance and money using a prepaid debit card. (Rooster and GoHenry require your child to be at least six years old). This is a great alternative to carrying cash around and is targeted at younger children.

As a parent or guardian, you can load the prepaid debit card for kids for free. Your child will be able to withdraw or pay contactless, depending on the funds you’ve set aside for them.

Most major retailers accept such prepaid cards, which are usually provided by Visa or Mastercard. Another factor to consider is the rising popularity of mobile wallets such as Apple Pay, Google Pay, and Samsung Pay. Mobile wallets are a safe and secure way of making payments. If

Another aspect to keep in mind is that prepaid cards don’t come with a checking account, account number or sort code. There is also no debit card connected to it. And furthermore, there’s no option of setting up a credit or overdraft facility on it.

However, you should be aware that there may be fees involved, such as ATM withdrawal fees, account management fees or other types of fees.

Advantages and disadvantages of a child having a debit card

There are numerous advantages and some disadvantages that come with children having a debit card. Let’s explore a few of these below.

Advantages

The most significant advantages of a child having a debit card are as follows:

• Important life lessons: One of the greatest benefits of your child having their own checking account and debit card is that they’ll learn how banking works. They’ll be able to set goals and budgets and practise money management.

• No overdraft facility: Since children and teens are not permitted, by law, to obtain credit cards and make use of overdraft facilities, they’ll be able to spend within their means and not go overboard. This will teach them important budgeting lessons.

• No monthly fees: In most cases, teen and children’s checking accounts don’t incur monthly fees like adult accounts.   

• Set daily limits: You’ll be able to set daily limits on everything from ATM withdrawals to spending and card swiping. 

• Earn interest: The money that remains in your child’s account will also earn interest. This is a valuable lesson for them about the world of money and how it works and is earned. 

• Free (or affordable) to get and use: Most children’s checking accounts are free to use. Some banks or building societies might charge a fee as low as 1 GBP to open an account, but others are free. 

Disadvantages

Some disadvantages to consider include:

• Greater burden of responsibility: Giving your child a debit card can place a stronger burden on them to manage money responsibly. If you don’t want to overwhelm your child, or you feel they are not mature enough just yet, it’s best to wait until they are ready.

• Monitoring: You will need to monitor your child’s spending regularly to avoid overspending or irresponsible money use.

In closing…

As a parent, teaching your children about finances from a young age is not only a great educational tool, but also enables you to exercise elements of control over your children’s spending.

In this blog post, we discussed the age limits at which a child can get a debit card and a checking account and other questions related to children’s spending.

Now that you’re better informed, you can make the best choice for your child, letting them use either a prepaid or debit card, as well as the associated mobile wallets that accompany some of them.

Frequently Asked Questions

What’s the case with credit cards?

A child under the age of 18 in the UK is unable to open and have a credit card account or an overdraft facility because this goes against contract laws.

Should you open a savings account?

A savings account can be opened for children aged seven and older. Unlike current accounts, they offer higher interest rates, but they don’t allow for spending with a debit card or setting up direct debits.

They also offer fewer features than current accounts. These types of accounts are great if you’re saving for your child’s future. They enable you to control the account until your child reaches a certain age.

What about Apple Pay?

Apple Pay is quickly becoming a popular payment method around the world. This is a digital wallet on which you load a card that can be used to make in-store or online purchases.

The age limit for using Apple Pay for children in the UK is 13 years.

What happens to a child’s account when they turn 18?

Your child’s bank account, once they turn 18, will usually be upgraded to a standard adult current account.

Disclaimer: Please be aware that the contents of this article and the myPOS Blog, in general, should not be interpreted as legal, monetary, tax, or any other kind of professional advice. You should always seek to consult with a professional before taking action, since the particulars of your situation may materially differ from other cases.