Chase First Banking, Debit Card for Kids – Money Management by Parents

Chase First Banking

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Parents that are looking for ways to teach their kids about earning, spending, saving, and overall financial responsibility should check out Chase First Banking℠.

Created with teens and kids in mind, this fee-free checking account comes with a debit card and a suite of online tools to help parents monitor and control spending.

Kids will love having their own debit card to use and parents will love being able to easily supervise and educate how their little ones are using their money.

Is this a right fit for your family? Let’s take a look at all of the details below.

Overview

Before getting started opening a Chase First Banking account for your child, at least 1 parent needs to have a qualifying Chase checking account and online profile of their own.

The qualifying checking accounts are:

  • Chase Better Banking Checking®
  • Chase Checking℠
  • Chase Premier Checking℠
  • Chase Premier Plus Checking℠
  • Chase Private Client Checking℠
  • Chase Sapphire Checking®
  • Chase Secure Checking℠
  • Chase Total Checking®

Only 1 parent can connect their account and they must share the same home address.

For kids, the only requirement is they are between the ages of 6 to 17 years old.

The online service and accompanying app make it easy to monitor, control, and teach about the money going in and out of your child’s new checking account.

The idea behind all of this is to help children build financial skills and good money habits for the future through hands-on learning.

Chase First Banking Features

Debit Card

Chase First Banking Card
Image Credit: Chase

One of the most exciting parts of opening a checking account for kids is that they will get their own debit card.

This will undoubtedly make them feel more like an adult, and it’s a great tool to help teach them about the responsibilities around money.

The debit card is connected to their Chase First Banking account balance, which can only be refilled via the parent’s checking account.

Kids can use their debit card online and anywhere that Visa is accepted. If they want to withdraw cash they can do so for free at a Chase ATM or via cash-back at stores that offer it.

Hot Tip: Using an out-of-network ATM will cost $2.50 and foreign transaction fees apply if used outside of the U.S. 

App

The most attractive and convenient feature of the Chase First Banking account is the user-friendly app that both kids and parents have access to.

Inside the app is a suite of features that can help kids learn about saving and budgeting, and parents can control how much is being spent.

Parents can set up chores and allowances (more on that below) and kids can complete them and request money all inside the app.

Chores

Chase First Banking Chores
Image Credit: Chase

Love ’em or hate ’em, chores around the house are a part of life and parents often use them as a teaching tool for kids to learn about responsibilities and earning money.

Well, inside the Chase Mobile app, parents can set up 1-time chores and pay their teens or kids once the chore has been completed.

Allowance

In addition to the 1-time chores payments, parents can set up recurring payments as an allowance.

The allowance feature can be set up to transfer to the child daily, weekly, or monthly, all inside the Chase Mobile app.

Goals for Saving

Teaching kids about money and saving can be so beneficial to them later in life. Inside the Chase Mobile app parents and kids can set up savings goals to help make saving money a habit.

Parents or kids can transfer the money they’ve earned into the savings section of the app and even create specific goals if they are saving for a specific purchase.

When parents send over transfers, either one-time or recurring allowances, they can be allocated to either Spend Anywhere or General Savings in the child’s account.

Spending Limits

Inside the Chase Mobile app, parents can set up spending limits so kids don’t end up spending too much (or all) of their money.

Chase First Banking Phone
Image Credit: Chase

Whether it’s a $20 limit at a restaurant or just a general $30 spend anywhere limit, parents can manage where and how much money is being spent on the debit card.

Any purchase that would otherwise overdraft or hit the preset limit with automatically be declined.

Parents can also set limits on how much can be withdrawn from ATMs.

Alerts

Like most things nowadays, parents can choose to have alerts and notifications set up.

If a purchase is made on the child’s debit card, a real-time alert will be sent to the parent’s app.

Chase First Banking Fees

One of the biggest selling points for Chase First Banking (besides the extremely valuable financial education), is the fact that it is free.

The monthly fee is $0. All of the features listed above are free, including no fees at 16,000 Chase ATMs.

The only potential fee a family might encounter would either be $2.50 by using a non-network ATM or a foreign transaction fee.

Final Thoughts

The bottom line here is that if you are looking at opening a checking account for your child, Chase First Banking is an excellent option.

Besides the fact that it’s free, has excellent features, and is educational!


The information regarding Chase Premier Plus Checking℠, Chase Sapphire Checking®, Chase Better Banking Checking®, Chase Premier Checking℠, Chase Checking℠, and Chase Private Client Checking℠ was independently collected by Upgraded Points and not provided nor reviewed by the issuer. 


Frequently asked questions

What is Chase First Banking?

Chase First Banking is a banking account geared for kids and teens, but that’s managed by parents. It helps kids learn the basics of personal finance, along with how to build good spending habits with a debit card.

Parents are able to choose how much their kids can spend, and where they can spend to help encourage smart spending habits.

Can a 12 year old get a debit card at Chase?

While a 12 year old would be eligible for a debit card to access a Chase First Banking account, the account must be opened by a parent. A parent can open a Chase First Banking account for their child aged 6-17.

How much is the initial deposit for the Chase First Banking account?

There is not an initial deposit requirement for the Chase First Banking account. However, at least 1 parent needs to have a qualifying Chase checking account and online profile of their own.

The qualifying checking accounts are:

  • Chase Better Banking Checking®
  • Chase Checking℠
  • Chase Premier Checking℠
  • Chase Premier Plus Checking℠
  • Chase Private Client Checking℠
  • Chase Sapphire Checking®
  • Chase Secure Checking℠
  • Chase Total Checking®

Can I use my Chase First Banking debit card at ATMs?

Yes! Just like any Chase debit card, you can use a Chase First Banking debit card at all of Chase’s 16,000 ATMs.

If you use your Chase First Banking debit card at participating non-Chase ATMs, be aware that fees will apply.

How many Chase First Banking accounts can I have?

Chase customers who meet the eligible qualifying account requirement can open up to 5 Chase First Banking accounts per parent/guardian.

Do Chase First Banking accounts have a monthly service fee?

No. Chase First Banking account do not have a monthly service fee.

Chris Hassan

About Chris Hassan

Chris is from Boston and is currently living in Rio de Janeiro with his wife, two kids, and their dog, Shelby. When Chris was in college, he spent a semester abroad studying hotel and business management in Switzerland. That is where he caught the travel bug and met his wife. Quite a successful trip!

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