![]() For new Fidelity® customers, opening an account is easy, and there are no minimums and no account fees. Controls Parents Want and NeedĪ parent or guardian must have or open a brokerage account with Fidelity® to open a Fidelity® Youth Account. We’ll note that Fidelity Youth Account isn’t a prepaid card nor a banking app, but it’s still strongly worth considering. And they can use this free debit card for teens 4 to manage their cash and spend it whenever they need.Īnd as for building smart money habits? You and your teen can access Fidelity’s Dedicated Youth Learning Center, which is packed with materials developed specifically to help teens develop good financial habits. Your teen will also get a free debit card with no subscription fees, no account fees, no minimum balances, and no domestic ATM fees. stocks, exchange-traded funds (ETFs), and Fidelity mutual funds. They can use their own brokerage account to start their investing journey by trading most U.S. And one tool that can help your teen get that jump is the Fidelity® Youth Account-a brokerage account owned by teens 13 to 17 that’s designed to help them start their investing journey. Of course you do! Learning early about saving, spending and investing can pay off big when you start on the right foot. Is your teen interested in jumpstarting their financial future? Do you want them to build smart money habits along the way? Promotion: Teens get $50 on Fidelity® when they open an account parents get $100 when they fund a new account.Price: No account fees, no account minimum, no trading commissions.Fidelity ® Youth Account (Best Free Debit Card With Teen Investing) ![]() *Apple App Store Rating as of January 13, 2023.ġ. High customer satisfaction from a major bank without fees Teens to learn essential financial skills and avoid fees The card sharing feature is handy for parents setting an allowance card for their kids or small business owners looking to distribute cards to employees.Teens ready to learn about money management Any cards you share will lock to the first merchant they're used with, and you can still adjust spending limits and close the card at your discretion. With one click, you can share a Privacy Card instead of having to share and expose your real debit or credit card details. Privacy makes it easy to share secure payment information with trusted friends, family members, or employees. You can also easily pause, unpause, and close Privacy Cards at any time to manage subscriptions and avoid being overcharged. If a transaction attempt goes over the limit, we automatically decline it. You can set customizable spending limits on cards to track and maintain budgets at specific merchants and block hidden fees. Privacy gives you greater control over your spending. These built-in protections have helped our users transact with confidence and save money that would have otherwise been lost in a security breach. Privacy Cards can also be set for one-time use so they automatically close after a single transaction. Privacy Cards automatically “lock” to the first merchant they’re used at and can never be used anywhere else if they’re stolen or compromised in a data breach. Privacy helps you defend against card theft and fraudulent charges. experienced fraud in 2021, equating to nearly $6 billion in losses. The Federal Trade Commission reported that more than 2.8 million consumers in the U.S.
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