14 Best Money Apps for Kids [Banking, Investing + More] (2024)

Could you imagine what the world might look like if kids learned how to manage money from an early age? Any number of positive developments might occur, from learning to live within your means, developing a budget you stick to, getting started early on investing as a teenager or kid and planning for a secure retirement, among many other desirable outcomes.

Thankfully, this idealistic start for making an investment in your child’s future isn’t as unreachable as it once may have been. In fact, there are several helpful resources to teach financial literacy to your kids. You might even find that your kids get exposed to a decent amount of financial knowledge from their everyday interactions with media, including video games, television, streaming services and more.

This article will focus on the best money apps for kids when you want to teach them about how to handle money.

Many of the apps are free and come with some basic offerings while others provide a free trial to test out the app before committing to an on-going subscription.

After we talk about our picks for some of the best apps for kids and their parents to manage money together for devices like iPhone, iPad and Android smartphones, we jump into talking about a few related topics. Namely, how kids can learn about handling money in the real world and making spending decisions of their own. In today’s cashless economy, that means starting with banking and debit cards.

Best Money Apps for Kids—Top Picks by Category

Best Debit Cards for Kids

When you look for debit cards and banking solutions for your kids, you will want to be mindful of the available features that come with the bank account and debit cards.

Of particular importance, parents should look for features like no or low fees for funding and maintaining the jointly-managed account, easily accessible and customizable online account monitoring, convenient, and preferably free, ATM access, as well as the ability to set spending limits within your agreed upon terms.

We cover all the major considerations you should make in this complete article about the best debit cards for kids.

Below, we review a handful of apps which allow you to use some or all of these features.

1. Greenlight Card (Investment Account with Debit Card)

• Available:Sign up here
• Price: Free 1-month trial, $4.99/month after

Greenlight provides parents control over where their kids can spend money by limiting the stores where their cards work. Parents can get alerts when money is spent on the Greenlight debit card and for how much.

Further, parents can open a custodial brokerage account to get their kids investing in stocks and index funds for the first time.

Greenlight works like a prepaid debit card, allowing you to transfer money onto the card for your child to pay for expenses at approved locations.

You can choose how much money to load onto the card and your child will be cleared to make approved purchases so long as a money balance backs up the card.

Greenlight charges $4.99 per month for up to five kids. Replacement cards cost $3.50 each but are free the first time. If you need to replace your card quickly, you can get express delivery for $24.99. It also offers a personalized card, with your own photo or design, for $9.99.

Greenlight doesn’t offer interest but you may set up “parent-paid interest” between you and your child where you foot the bill and pay interest on accounts for up to five kids.

If your child asks for extra money to get added to the card, you can have them take a photo of the purchase they want to make and receive your approval. This gives you control and allows kids to discuss why a purchase either is a good or bad idea.

If your child has a job, they can add their own funds to the card as well.

TheGreenlight debit cardis a good choice for parents looking to teach their kids the importance of saving money and making prudent financial decisions.

This financial product can be an effective learning tool for helping kids to understand why saving should be a priority as well as to help parents simplify paying an allowance or tracking chores.

It’s also arapidly growing appmany parents have come to use for raising financially-smart kids.

The Greenlight Mastercard Debit Card offers the best combination of features among all cards we reviewed, including its simple mobile app. Who says kids can’t have their own debit card? Nowadays, there are plenty of options for parents and our top choice is Greenlight.

Read more in our Greenlight Card review.

Related: Best Greenlight Alternatives

2. Copper Card (Best for Kid Independence)

• Available: Sign up here
• Price: 30 days free. Copper $4.95/mo., Copper + Invest: $7.95/mo.

Copper Banking was founded on the belief that kids and teens should have equal access to financial education and should be empowered to learn by doing. Now, the company is on a mission to help children gain real-world experience by giving them access to their money in a way that traditional banks can’t.

The Copper app and debit card teaches your child how to make smart financial decisions by creating a platform where parents and their kids can connect. With the Copper app, you get easy snapshots of your accounts. And with the Copper Debit Card, it’s easy to shop in-store or online, including with Apple Pay or Google Pay.

Plus, users get exclusive access to engaging advice curated by a team of financial literacy experts who provide tips on how to take control of their financial future.

Copper Banking Features:

• Send/Request: Kids and parents can easily send and receive money all at the touch of a button.
• Spend: Spend using Apple or Google Pay, or using the Copper Debit Card.
• Withdraw: Access your money from more than 55,000 fee-free ATMs.
• Monitor: Get a snapshot of all your child’s spending in an easy-to-read dashboard.
• Save: Gain quick snapshots of your kid’s savings and helpful tips on how to save even more. Set up savings buckets and save for the things that you want.
• Learn: With the help of Copper’s team of financial literacy experts, gain bite-sized tips on how you can maximize your money and prepare yourself for your financial future.

The basic Copper account includes the above banking features. With Copper + Invest, your child also gets access to automatically curated smart portfolios built with their preferences in mind. Your child is given a questionnaire that helps Copper determine a portfolio based on their age, income, net worth, investment objective(s) and investment horizon. Copper then recommends one of three ETF portfolios—Moderately Aggressive, Aggressive, and Extra Aggressive—made up of thousands of stocks. Parents can review the portfolio to ensure it matches with not just your child’s preferences, but your family’s. (Portfolios can be changed later on by accessing the Support chat.)

Your child can begin investing for as little as $1, then add more contributions down the road. Copper will automatically rebalance the portfolio as needed to make sure it always keeps up with your child’s investment preferences.

Copper is available to kids 6 years and older.

Read more in our Copper Banking review.

Related: Best Teen Credit Cards for Building Credit

3. GoHenry (Best Premium Prepaid Card for Single Kids)

• Available: Sign up here
• Price: 1 month free. Individual: $4.99/child/mo. Family: $9.98/mo. for up to four children

GoHenry is a banking app for minors that comes paired with a debit card. You have an online account which comes linked to individual accounts for each of your children.

You can manage all of the money held in each account through the company’s app and online account portal.

Each child will receive their own GoHenry debit card which comes paired with parental controls you can set for your children.

What’s nice about GoHenry is the ability to spend only the money available on the card, meaning you don’t need to worry about costly overdraft fees or accrue debt.

You open a GoHenry account, receive your children’s debit cards in the mail 7-8 business days later, set up an automatic weekly allowance transfer into your children’s accounts and can set up one-off or weekly spending limits.

This will keep your children’s spending in check and you can block/unblock the card as needed as well as choose the stores where your kids can shop.

With time, the controls provided by the app and the guidance you offer can help your kids to earn, save, spend and give with good money habits.

GoHenry is one of the best debit cards for kids for customer service. They offer 24/7 phone availability, email access and social media engagement, ensuring users can solve their problems quickly and with little hassle.

Related: GoHenry vs. Greenlight

4. Revolut <18 (Best for Parent-Paid Bonuses)

• Available: Sign up here
• Price: No monthly fees

Revolut <18 is a prepaid debit card for kids designed to teach them money skills for life. Aimed at building healthy money habits from an early age, the unique, customizable card empowers parents to have full insight into their kids’ card activity through providing instant spending alerts and parental controls.

You can choose to freeze the card, set controls on how they use the cards online and with contactless payments through your Revolut app. Further, you can set spending limits on how much your child can use with the prepaid card.

Parents use the card and accompanying app to teach kids about earning, budgeting, saving and even investing money (depending on the plan chosen). You can also use the card to manage chores and allowance, set savings goals as a family and help your children manage their money.

And if your child did something deserving of a reward? You can send parent-paid bonuses when they complete specific tasks. Simply add money to their digitized piggy bank through the app. You can send and receive money in seconds through Revolut’s Payments feature, which allows instant transfers between account holders and also global transfers at transparent rates.

Of note: You must have a personal Revolut account before you can open a Revolut <18 account for your children. You can add up to five Revolut <18 accounts per parent account.

To learn more about Revolut <18, consider visiting their site and opening an account for yourself and your child.

Related: Best Bar Mitzvah Gift Ideas [Financial Gift Ideas That Last]

5. FamZoo (Best for Financial Education)

• Available: Sign up here
• Price: Free trial, then $5.99/mo

FamZoo is another prepaid debit card service parents can use to manage their children’s spending. It works by having parents release money into their child’s account and then having the card work with a loaded balance. Money can be loaded onto the cards at any time.

FamZoo acts like a regular checking account with a linked debit card except FamZoo makes sure the account can’t be charged overdraft fees, saving you money.

Adults are able to monitor the transactions being made. After a free trial, this app costs $5.99 per month, but the price goes down if prepaid in advance.

Related: Greenlight vs. FamZoo

6. Acorns (Best for Long-Term Growth Through a Robo-Advisor)

• Available: Sign up here
• Price: Acorns Personal: $3/mo. Acorns Personal Plus: $5/mo. Acorns Premium: $9/mo.

Acorns has become one of the most popular investing apps for minors and young adults but also offers a robust money management platform extending beyond just investing.

The full suite of offerings includes the ability to establish custodial accounts for minors to invest, regular and retirement investment accounts for adults and a bank account with linked debit card.

If you sign up for the Acorns Spend product, it creates a bank account that carries FDIC Insurance protection for up to $250,000.

Further, it uses the Acorns “Round-Ups” feature which rounds up purchases to the nearest dollar, investing the difference between the transaction amount and the whole dollar. The service claims to help users invest an average of $30 per month using this feature.

While not a free stock trading app, Acorns does give you the following subscription options:

• Acorns Personal ($3 per month): Includes an Acorns Invest investment account, as well as Acorns Later for tax-advantaged investment options such as Roth IRAs. Also includes Acorns Checking, a bank account that has no account fees, lets you withdraw fee-free from more than 55,000 ATMs nationwide, and Smart Deposit, which allows you to automatically invest a bit of each paycheck into your Acorns accounts.
• Acorns Personal Plus ($5 per month): Everything in Acorns Personal (Acorns Invest, Later, and Checking), plus Premium Education, which are live onboarding sessions covering account setup, Round-Ups, setting up recurring investments, and more; Emergency Fund; and a 25% bonus on Acorns Earn rewards (up to $200 per month).
• Acorns Premium ($9 per month): Everything in Acorns Personal Plus, plus Acorns Early, which allows you to open a custodial investment account for your child so you can begin investing for them while they’re a minor; custom portfolios that allow you to hold individual stocks; live Q&As with financial experts; a 50% match on Acorns Earn rewards (up to $200 per month); $10,000 in life insurance; even the ability to set up a will for free.

For a limited time, the service also offers a $20 sign-up bonus in money toward free stocks. Learn how to start investing money, learn more about Acorns in our Acorns review, or sign up for Acorns here.

Related: Best Acorns Alternatives: Micro-Investing Apps to Use

• How Old Do You Have to Be to Have a Debit Card?
• How Old Do You Have to Be to Open a Bank Account?
• Opening a Child Bank Account with Debit Card

Best Investment Apps for Kids (and Teens)

Kids need to begin first by understanding the value of money and how it can be used to save for important spending decisions or spent on everyday necessities. For kids to get the full value for their money, they will also need to manage it and invest. Doing so properly will help kids to develop financial literacy skills, have less fear of financial topics and set them on a better financial path.

The following are some of the best investing and money management apps for kids and teenagers. All of these apps require a parent or guardian to open if the owner is a minor, but will transition to the account owner’s name after turning the age of majority (18 or 21 in some states for financial items).

Related: Best Money Apps for Teens

7. Fidelity Youth™ Account (Top Investing App for Teens)

• Available: Sign up here
• Price: No account fees¹, no account minimum, no trading commissions*
• Platforms: Web, mobile app (Apple iOS, Android)

Is your teen interested in jumpstarting their financial future? Do you want them to build smart money habits along the way?

Of course you do! Learning early about saving, spending and investing can pay off big when you start on the right foot. And one tool that can help your teen get that jump is the Fidelity Youth™ Account—an account for teens 13 to 17 that’s designed to help them start their money journey. Teens own the account themselves and can start investing in most U.S. stocks, exchange-traded funds (ETFs), and Fidelity mutual funds for as little as $1!³

Your teen will also get a free debit card with no subscription fees, no account fees, no minimum balances, and no domestic ATM fees². And they can use this free debit card for teens to manage their cash and spend it whenever they need.

And as for building smart money habits? You and your teen can access the account through the Fidelity Youth™ app, which has a dedicated Learn tab packed with materials developed specifically to help teens develop good financial habits. Not only will Fidelity’s interactive lessons, videos, articles, tools, and calculators accelerate their learning—but for every level they complete, reward dollars will be deposited into their account to use however they want.

Controls parents want and need

A parent or guardian must have or open a brokerage account with Fidelity® to open a Fidelity Youth Account. For new Fidelity® customers, opening an account is easy, and there are no minimums and no account fees.

Having a Fidelity account gives parents and guardians access to plenty of tools they can use to monitor their teen’s activity: They have online account access, can follow monthly statements and trade confirmations, and can view debit card transactions made in the account.

To make it even easier, you can set up alerts to notify you of your teen’s trades, transactions, and cash management activity, keeping you firmly in the loop on actions your teen takes across the Fidelity Youth Account’s suite of products.

If your teen has an interest in learning about investing, becoming smarter about money, and taking their first steps toward building their financial journey, you should consider downloading the Fidelity Youth app and opening a Fidelity Youth Account. The account comes custom-built for their needs, which will help them become financially independent and start investing for their future.

Read more in our Fidelity Youth Account review.

Related: Smart Ways for Teens to Make Money

8. Greenlight

• Available: Sign up here
• Price: Free 1-month trial, then $9.98/mo. for Greenlight Max

Greenlight Max is an investment account for kids that comes paired with a debit card and bank account.

It’s easy to use and can double as a savings account and banking apps for teens. The investing app will teach the basics of investing, how to invest in stocks and ETFs, and more.

It works best if parents and/or grandparents are involved in the process because it requires linked accounts from the adults’ banks or brokerages. Plus, parents and guardians will need to approve trades made in the investment account.

The all-in-one plan teaches them important financial skills like money management and investing fundamentals—with real money, real stocks and real-life lessons.

You can use the investing feature to:

• Start investing with as little as $1 in your account
• Buy fractional shares of companies you admire (say, kid-friendly stocks)
• No trading commissions beyond the monthly subscription fee
• Teens can only invest in U.S.-listed stocks and ETFs that have either a market capitalization over $1 billion or a three-month average daily dollar volume of more than $500,000
• Parents must approve every trade directly in the app.

Consider opening a Greenlight Card + Max account to start investing in a joint investment account as a teenager today. Each account supports up to five kids.

Greenlight currently offers a free one-month trial so you can see whether it really is one of the best investments for kids and, more importantly, meets all of your needs.

Learn more in our Greenlight review.

Related:

9. Acorns ($20 Bonus)

• Available: Sign up here
• Price: Acorns Personal: $3/month and Acorns Family: $5/month

Holy Doubletake, Batman! Is that an app making this list again? You’re right.

Acorns also again makes a second appearance on this list of best money apps for kids. This time, it shows up under the kids investing app section because it also acts as an all-in-one financial wellness app.

You can open a custodial account which will transfer into your child’s name once reaching the age of majority in your state. You can invest together and make contributions to work toward financial goals over time.

Consider signing up for this platform for your kids to manage money and grow with the investing product.

10. UNest

• Available: Sign up here
• Price: $4.99/mo.

UNest is a custodial account that allows parents to invest money for their kids for needs beyond just education but events like a new car, a wedding, vacation or anything else a minor might want some day.

UNest offers the UNest Investment Account for Kids through an app that makes it easy for families of all income levels and backgrounds to set up and manage savings and investment plans for their kids. UNest also has a gifting feature that allows friends and relatives to contribute to your kid’s account with just a few clicks. These gifts can be automated, too, so they never miss a birthday or holiday!

The app offers up to nine investment options for account owners:

• A conservative option investing in fixed income and bond ETFs
• Three age-based options with varying degrees of risk reflected in the investment mix (conservative, moderate, aggressive); these transition from more aggressive investments to conservative as the child gets owner and gains access to the funds
• Socially responsible age-based options also with varying degrees of risk (conservative, moderate, aggressive), likewise on the investment mix transition strategy from aggressive to conservative over time
• An aggressive option that invests 100% of the funds in Vanguard equity index ETFs, and a shortlist of popular cryptocurrencies.

Account holders can receive bonuses for their children’s UNest accounts via partner offers from companies such as Disney, AT&T, Uber, DoorDash, Levi’s, etc., through the UNest partner program.

11. EarlyBird ($15 Bonus)

• Available:Sign up here
• Price: $2.95/mo. for one child, $4.95/mo. for families with 2+ children

EarlyBird is a mobile app that allows parents and guardians to set up a UGMA account, where they can quickly start investing for their children.

This app provides a convenient and inexpensive way to gift money to a child, with funds available to go toward any expenses that benefit the child.

Want to start saving before your baby is even born? You can open a Baby Fund for free. Then, you can create a unique gifting link for friends and family to use for the baby shower, birthday gifts, and beyond. Once your child is born, a traditional EarlyBird investment account costs $2.95 per month for one child, or $4.95 per month for multiple children.

When opening an account to invest for your children, EarlyBird allows you to choose from five strategic ETF-only portfolios, with investing goals ranging from conservative to aggressive, based on your stated risk tolerance and overall investor profile. This removes the complexity of conducting your own research or selecting specific investments.

Do family and friends want to provide a gift, but think money is too impersonal? With EarlyBird, they can record a video to go along with their financial contribution, personalizing these moments which last a lifetime. And if you’d like to give but the recipient doesn’t have an EarlyBird account, you can text them a link from the app to the recipient’s phone number.

EarlyBird also has a “Moments” feature that allows parents to begin to save and share special milestones and memories alongside their investments. Parents can add a “Moment” to their child’s timeline at any time by uploading photos or videos with notes to capture magical moments as their child grows—no contributions necessary (but naturally encouraged). You can choose to automatically share Moments with anyone else who has invested in your child on EarlyBird, but each Moment also has its own unique link that you can share with people outside of the app.

When parents or guardians set up a new custodial investment account through EarlyBird, they must start with a $15/month recurring contribution minimum. However, you can change that recurring contribution amount higher or lower as your budget allows or necessitates.

Consider opening an EarlyBird account today and receive $15 to get you started after opening your account.

Best Allowance Apps for Kids

Establishing a link between working and money is a good habit to develop at an an early age. This can motivate kids to work hard and set savings goals for themselves.

They can also be rewarded for their patient saving by making a purchase they really want as an achievement.

The following best allowance and chore apps for kids enable parents and their children to manage allowance payments and work toward important financial goals.

12. Savings Spree

• Available: Only available on iOS
• Price: $5.99

This gamified app emphasizes the concept of how small purchases add up in the long run. It demonstrates the opposite effect as well by letting you see how small, consistent savings can accumulate to be a significant amount over time.

The app works like a game show hosted by a talking pig. Users assume the role of the game show’s contestants and see how daily lifestyle changes can affect your long-term savings potential.

It also shows the impact of unexpected expenses which crop up and could potentially derail your savings plans. The proposed solution is none other than having a well-funded emergency fund.

While this app might be more appropriate for younger teens than older teens and young adults, the lessons taught are worth understanding at any age.

13. PiggyBot

• Available: Only available on iOS
• Price: Free

This app acts as an allowance app which allows kids to spend, share and save smart. PiggyBot allows users to track allowance spending and saving, including staying on top of IOUs and missed allowance payments.

This app doesn’t use cash, but instead tracks a virtual balance held with you. You can think of this as a virtual IOU tracking app with each child having a separate Spend-It, Share-It and Save-It accounts.

You can set mutual goals to work toward satisfying your wants and needs, and learning the difference between them. This app would pair well with Greenlight’s debit card and bank account when you’re ready to transition to spending money in certain, pre-approved stores.

14. iAllowance

• Available: Only available on iOS
• Price: $2.99

iAllowance boasts over 30 million chores completed with 20 million allowances paid using the app. You can use virtual piggy banks to manage your children’s finances and teach them about saving and spending money.

You can set up weekly allowance payments that automatically transfer at regular intervals to your teen’s bank account, like one from Stash, Greenlight or Acorns.

It’s a win-win where you don’t have to be pulling out cash constantly and your child always gets their money on time.

If your teen is responsible for chores, you can track them through iAllowance and even send push reminders for ones that still need to get done.

Making Spending Decisions on Your Own

As a father to a 1-year old, it’s been an adventure seeing my son allow his mother and I make all of his decisions for him while he sat back and (mostly) enjoyed the ride.

But since he developed some independence by learning to crawl, then cruise and now walk, he’s learning to make decisions on his own about what he wants to do and say.

Inevitably, this will lead to other choices he will need to make. While we made these decisions for him, we want to encourage him to evaluate his options and decide what’s best for himself.

One such topic will relate to money. Specifically, what to do with it.

When my wife and I were kids, we saved pocket money in piggy banks. Our household shopping happened in person, not online. We would often see our parents handling cash, as debit cards and credit cards weren’t always the go to payment method.

Now, as we spend more time online, money has become far less tangible. As a result, how can we expect our kids to learn about it and truly appreciate its value? The answer to this question comes from the numerous apps listed in this article.

We expect our son to start learning about money by seeing his mother and I spend money at places like the grocery store, a restaurant, online or any other place of business.

Even though he won’t see physical money change hands in many of these transactions, we want him to tie the cause and effect of this together. We would like for him to understand how we manage our money.

In particular, how we choose to weigh our wants and needs, and how we decide what is the most important. We also want him to understand how he can identify these by himself and make his own choices.

Once he has his right on these topics, we’ll need to begin discussing how to make the purchases.

Increasingly, that means understanding how spending on cards works. Debit cards to start, and eventually credit cards when he’s much older. The best debit cards for kids teach them how to manage their money and not be wasteful.

Though, because most kids won’t qualify for a teen checking account by themselves, you’ll need to pursue other debit card and banking options available to minors. Let’s talk about debit cards for kids.

The Best Money Apps for Kids

Money apps can help kids to pick up financial skills quickly, often by gamifying the topics but also by including adults in the conversation. This can lead to better guidance and life outcomes.

Thankfully, teaching kids about money doesn’t have to be a boring experience. The best money apps for kids will make money management your kids’ favorite subjects for discussion.

Consider signing up for some of the apps above and see how they work together to build a better financial future for your kids.

Terms and Conditions for Fidelity Youth™ Account

The Fidelity Youth Account can only be opened by a parent/guardian. Account eligibility limited to teens aged 13-17.

* $0.00 commission applies to online U.S. equity trades and Exchange-Traded Funds (ETFs) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). Other exclusions and conditions may apply. See Fidelity.com/commissions for details. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Clearing & Custody Solutions® are subject to different commission schedules.

¹ Zero account minimums and zero account fees apply to retail brokerage accounts only. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs) and commissions, interest charges, or other expenses for transactions may still apply. See Fidelity.com/commissions for further details.

² Your Youth Account will automatically be reimbursed for all ATM fees charged by other institutions while using the Fidelity® Debit Card at any ATM displaying the Visa®, Plus®, or Star® logos. The reimbursem*nt will be credited to the account the same day the ATM fee is debited. Please note, for foreign transactions, there may be a 1% fee included in the amount charged to your account. The Fidelity® Debit Card is issued by PNC Bank, N.A, and the debit card program is administered by BNY Mellon Investment Servicing Trust Company. These entities are not affiliated with each other, and Fidelity is not affiliated with PNC Bank or BNY Mellon. Visa is a registered trademark of Visa International Service Association, and is used by PNC Bank pursuant to a license from Visa U.S.A. Inc.

³ Fractional shares quantities can be entered out to 3 decimal places (.001) as long as the value of the order is at least $0.01. Dollar-based trades can be entered out to 2 decimal places (e.g. $250.00)

Fidelity Brokerage Services LLC, Member NYSE, SIPC 900 Salem Street, Smithfield, RI 02917