Fintech company Copper closed all its deposit accounts in May 2024. At its peak, it had over 1 million users and provided teen-centered banking services. It offered 2% to 5% savings rewards, various savings tools, educational materials and an optional investing platform. It was a decent kids’ banking option, but now that it’s no longer an option, here are some Copper alternatives with similar features.
Greenlight is a top kids' banking option featuring granular parental controls and no age requirements. Parents set spending custom limits by store and category, monitor spending, approve or deny money movement between spending and saving and turn cards on and off. Greenlight also has chore and allowance features, up to 2% to 5% savings rewards depending on your plan, a financial literacy game and an investing platform. With pricier plans, you get extra safety features like SOS alerts, location sharing and phone and purchase protection. But Greenlight has a monthly fee starting at $5.99 for Core, $9.98 for Max and $14.98 for Infinity, each plan allows up to five kids.
Maintenance Fees
$5.99 monthly
Age requirements
Any age
Greenlight is a top kids' banking option featuring granular parental controls and no age requirements. Parents set spending custom limits by store and category, monitor spending, approve or deny money movement between spending and saving and turn cards on and off. Greenlight also has chore and allowance features, up to 2% to 5% savings rewards depending on your plan, a financial literacy game and an investing platform. With pricier plans, you get extra safety features like SOS alerts, location sharing and phone and purchase protection. But Greenlight has a monthly fee starting at $5.99 for Core, $9.98 for Max and $14.98 for Infinity, each plan allows up to five kids.
Pros
Custom store and category spending limits
Up to 5% savings rewards
Money learning game
Extra safety features
Investing platform
Cons
Unavoidable monthly fee
Fee
$5.99 per month
ATM withdrawal
$0
Card replacement fee
$3.50
Age requirements
Any age
Card type
Debit
Card network
Mastercard
Special offer
For each successful referral you or your kid make, you’ll earn a cash bonus and so will your referral.
Acorns Early has a lot of similar features to Copper. For kids aged six to 18, it has educational money games and interactive quizzes developed by teachers and financial experts with its feature Money Missions. Kids learn basics around earning, savings budgeting and more while earning points and badges to unlock new levels. Acorns Early also has chores and allowance tracking, customizable debit cards and strong and customizable parental controls. Pricing is similar to Copper, costing $5 per month for one kid or $10 for up to four kids.
Maintenance Fees
$5 monthly
Age requirements
6 to 18 years old
Acorns Early has a lot of similar features to Copper. For kids aged six to 18, it has educational money games and interactive quizzes developed by teachers and financial experts with its feature Money Missions. Kids learn basics around earning, savings budgeting and more while earning points and badges to unlock new levels. Acorns Early also has chores and allowance tracking, customizable debit cards and strong and customizable parental controls. Pricing is similar to Copper, costing $5 per month for one kid or $10 for up to four kids.
Pros
Gamified learning
Chores and allowance tracking
Strong parental controls
Cons
Unavoidable monthly fee
Fee
$5 per month
ATM withdrawal
$0
Card replacement fee
$0
Age requirements
6 to 18 years old
Card type
Debit
Card network
Mastercard
Special offer
Get an exclusive 2 months free and $10 allowance when you sign up to Acorns Early with Finder's exclusive code: AFFUSFDR10.
Step is a fintech company like Copper was, but Copper had a monthly fee. Step's basic card doesn't have any monthly fees, overdraft fees or APR. It's available for all ages but is heavily geared toward teens, offering perks like building credit history, savings rewards up to 4% with direct deposit requirements and up to 3% in cashback rewards. Step's cards are interest-free and secured by a deposit account, so users can only spend what's in their linked account. And just like Copper, Step also has an investing platform but doesn't require a paid plan like Copper did. Step also offers up to 4% savings rewards, but you need a monthly direct deposit of at least $500 to earn that rate. If you want more cashback rewards, the Step Black card, for ages 13 and up, offers up to 8% on select purchases with a waivable $4.99 monthly fee.
Maintenance Fees
$0 monthly
Age requirements
Any age
Step is a fintech company like Copper was, but Copper had a monthly fee. Step's basic card doesn't have any monthly fees, overdraft fees or APR. It's available for all ages but is heavily geared toward teens, offering perks like building credit history, savings rewards up to 4% with direct deposit requirements and up to 3% in cashback rewards. Step's cards are interest-free and secured by a deposit account, so users can only spend what's in their linked account. And just like Copper, Step also has an investing platform but doesn't require a paid plan like Copper did. Step also offers up to 4% savings rewards, but you need a monthly direct deposit of at least $500 to earn that rate. If you want more cashback rewards, the Step Black card, for ages 13 and up, offers up to 8% on select purchases with a waivable $4.99 monthly fee.
Pros
No monthly or overdraft fees
Secured card with no APR
Up to 3% cash back with Step card
Up to 8% cash back with Step Black card
Up to 4% savings rewards
Optional investing platform
Cons
$4.99/month for Step Black card (waivable)
Highest savings rate requires direct deposit
Fee
$0 per month
ATM withdrawal
$0
Age requirements
Any age
Card type
Credit
Special offer
Earn $1 for every person that joins using your unique link or code. They'll also get $1
Current is designed for teens 13 and up but has no specific age requirements. It also has no monthly fees, whereas Copper charged at least $4.95 per month. It has similar savings tools as Copper, such as an automatic roundup feature. Plus, parents can set spending limits on specific categories or turn off ATM usage or block merchants altogether. However, to get Current teen banking, parents must have a regular Current account for management. Luckily, that account is also free to open and maintain.
Maintenance Fees
$0 monthly
Age requirements
Any age
Current is designed for teens 13 and up but has no specific age requirements. It also has no monthly fees, whereas Copper charged at least $4.95 per month. It has similar savings tools as Copper, such as an automatic roundup feature. Plus, parents can set spending limits on specific categories or turn off ATM usage or block merchants altogether. However, to get Current teen banking, parents must have a regular Current account for management. Luckily, that account is also free to open and maintain.
Pros
Savings roundup feature like Copper
No monthly fees
No age requirements
Strong parental controls
Cons
Requires parent or guardian to have Current account
Axos Bank First Checking has no monthly or overdraft fees or opening deposit requirement and is available to teens aged 13 to 17 as a joint bank account. What makes Axos great is it has one of the largest ATM networks among online banks, featuring over 91,000 ATMs nationwide. Teens can withdraw cash at these ATMs with no fees and get up to $12 in ATM reimbursement per month. And it earns 0.1% APY. While this account doesn't have as many parental controls as Copper or others, teens have a $500 daily debit card limit and a $100 daily cash withdrawal limit.
Maintenance Fees
$0 monthly
Age requirements
13 to 17 years old
Axos Bank First Checking has no monthly or overdraft fees or opening deposit requirement and is available to teens aged 13 to 17 as a joint bank account. What makes Axos great is it has one of the largest ATM networks among online banks, featuring over 91,000 ATMs nationwide. Teens can withdraw cash at these ATMs with no fees and get up to $12 in ATM reimbursement per month. And it earns 0.1% APY. While this account doesn't have as many parental controls as Copper or others, teens have a $500 daily debit card limit and a $100 daily cash withdrawal limit.
Chase First Banking is a kids' bank account by the Big Four bank, but it's powered by Greenlight. For kids aged six to 17 and with no monthly fees or opening deposit requirements, it's a solid first checking account with tons of perks. You get chores and allowance features, choose where your kids can spend, create savings goals and track everything with the Chase mobile app. While this account doesn't cost anything to open or maintain, parents must have their own Chase checking account to open First Banking, but you can have up to five of these accounts.
Maintenance Fees
$0 monthly
Age requirements
6 to 17 years old
Chase First Banking is a kids' bank account by the Big Four bank, but it's powered by Greenlight. For kids aged six to 17 and with no monthly fees or opening deposit requirements, it's a solid first checking account with tons of perks. You get chores and allowance features, choose where your kids can spend, create savings goals and track everything with the Chase mobile app. While this account doesn't cost anything to open or maintain, parents must have their own Chase checking account to open First Banking, but you can have up to five of these accounts.
Pros
No monthly fees or opening deposit required
Assign chores and pay allowances
Choose where child can spend
Cons
Requires parent or guardian to have eligible Chase checking account
On May 13th, Copper closed its kids’ bank accounts. Its accounts offered 2% to 5% savings rewards, financial literacy education and up to five subaccounts. Kids and teens could divide their money into savings buckets and use savings roundups, and kids got virtual and physical debit cards. Parents also got strong parental controls, and it had an investing platform with the Copper + Invest plan.
The downside of Copper was its unavoidable monthly fee, either $4.95 or $7.95 per month. And there were reload fees if you funded your kids’ card with your debit card, costing 2.5% + $0.30 per transfer. But overall, it was a solid kids’ bank account.
Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio
Bethany's expertise
Bethany has written 448 Finder guides across topics including:
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