Chase First Banking
- Best for: Chase customers who want a controlled debit card for a child ages 6 to 12
- What Sets It Apart: Spending limits by store and amount; scheduled allowance and paid chores; no monthly fee
- Cost: $0 a month; $3 per non-Chase ATM withdrawal in the U.S. and $5 abroad; 3% on transactions in another currency; $15 to rush a replacement card; requires a qualifying Chase checking account
- Features: Debit card for ages 6 to 17; $400 daily purchase and $100 daily ATM limits; savings goals; money requests; up to five accounts per parent
- Pros: Free; detailed parental controls; kids use the Chase Mobile app
- Cons: Chase checking required; no cash, check, or direct deposits; no payment apps; no interest
Open Chase First Banking if you already bank with Chase and want a free debit card for a young child, with spending limits you set by store and amount. Skip it if you’d need a new Chase checking account just to qualify, or if your child needs to deposit cash or a paycheck.
Chase First Banking is a parent-owned checking account and debit card for kids 6 to 17, built with 6- to 12-year-olds in mind. It works only alongside a qualifying Chase checking account, so it suits families who already bank there and want tight control over a young child’s spending.
Key Features
- No monthly fee and no overdraft fees
- Parent-set spending limits by store, online, and at ATMs, inside a $400 daily purchase cap and a $100 daily ATM cap
- Allowances, one-time and recurring chores, savings goals, money-request approvals, and activity alerts in the Chase Mobile app
- Money arrives only by transfer from the parent’s Chase checking account
- Up to five accounts per parent
Pros
- Free for families with a qualifying Chase account
- Store-by-store and dollar-level spending limits
- Recurring allowance transfers and paid chores are built in
- Kids sign in to the same Chase Mobile app their parents use
Cons
- Chase Total Checking, a qualifying account, costs $15 a month unless you meet a waiver such as $500 in monthly electronic deposits
- No cash, check, or direct deposits, and no Zelle, Venmo, PayPal, or Cash App
- Balances earn no interest
- A $3 Chase fee at non-Chase ATMs in the U.S., plus the machine owner’s fee
For a Chase family with a young child, Chase First Banking is the simplest free way to hand over a debit card with guardrails you set. Families outside Chase can get a no-fee account that takes deposits, such as Capital One MONEY Teen Checking, which links to a parent’s account at any bank. At 13, Chase High School Checking adds Zelle, direct deposit, and check deposits, also with no monthly fee.
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