A debit card is a financial tool that allows you to access your funds conveniently. Unlike credit cards, which allow you to borrow money, a debit card allows you to use the money you already have in your account. But, if you’re wondering how old you have to be to get a debit card, you’re not alone. The age requirement for getting a debit card can vary depending on a few factors. In this article, we’ll explore those factors and give you a clear answer to this question.
Factors That Determine the Age Requirement
The age requirement for getting a debit card depends on a few factors, including:
1. Type of Account
The first factor that determines the age requirement for getting a debit card is the type of account you have. Some banks offer accounts specifically for children, which may have lower age requirements. For example, some banks offer accounts for children as young as six years old.
2. Parental Consent
Another factor that can impact the age requirement for getting a debit card is parental consent. In many cases, if you’re under 18, you’ll need a parent or legal guardian to open a bank account for you. And if you want to get a debit card, they may need to co-sign on the account or give their consent.
3. Employment
Finally, if you’re under 18 but employed, you may be able to get a debit card on your own. Some banks may allow minors to open accounts and get debit cards if they have a job and can prove their income.
Typical Age Requirements
So, what are the typical age requirements for getting a debit card? Here are a few examples:
1. Chase Bank
Chase Bank requires account holders to be at least 18 years old to open a checking account and get a debit card. However, if you’re under 18, you can open a joint checking account with a parent or legal guardian.
2. Bank of America
Bank of America allows minors to open a checking account and get a debit card at the age of 16. However, they require a parent or legal guardian to co-sign on the account.
3. Wells Fargo
Wells Fargo allows minors to open a checking account and get a debit card at the age of 13. However, they require a parent or legal guardian to be a co-owner of the account until the minor turns 18.
Conclusion
The age requirement for getting a debit card can vary depending on a few factors, including the type of account, parental consent, and employment status. While some banks may allow minors as young as six to get a debit card, others may require you to be at least 18. If you’re not sure what the age requirement is for your bank, be sure to check with them directly. By understanding the age requirements and other factors, you can get the financial tools you need to manage your money responsibly.
