GoHenry, now Acorns Early, is a popular kids’ banking app offering a debit card and financial education tools for children aged 6 to 18. It includes some nice features, including budgeting tools, strong parental controls, chore tracking and custom card designs. However, with fees starting at $5 per month for one kid or $10 for up to four kids, it may not be the best pick for large families.
Unlike Acorns Early, Greenlight lets parents add up to five kids per plan. Starting at $5.99 per month, it's priced similarly to Acorns Early's one-kid plan, but it's a better value for large families. It features granular parental controls like Acorns Early, letting parents set spending limits by store or category, receive spending alerts, instant no-fee reloads and tons of extra safety perks. It also includes chore and allowance tracking like Acorns Early.
Fee
$5.99 per month
ATM withdrawal
$0
Unlike Acorns Early, Greenlight lets parents add up to five kids per plan. Starting at $5.99 per month, it's priced similarly to Acorns Early's one-kid plan, but it's a better value for large families. It features granular parental controls like Acorns Early, letting parents set spending limits by store or category, receive spending alerts, instant no-fee reloads and tons of extra safety perks. It also includes chore and allowance tracking like Acorns Early.
Pros
Up to five kids per plan
Robust parental controls
Includes savings and investment tools
Chore management and allowance tracking
Cons
Can't avoid monthly fee
Monthly fee
$5.99
ATM withdrawal
$0
Card replacement fee
$3.50
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.
If you'd rather step away from Acorns Early because of its monthly fee, check out Step. Step combines a no-fee banking app with a secured Visa card to help teens build credit while managing their money. You can choose from a parent-managed account, where you do all the handling, or go for an adult-sponsored account, which provides your kiddo with their own login. However, Step is primarily designed for teens and doesn't have a chore tracker, but it does offer automatic transfers that can function as an allowance.
Fee
$0 per month
ATM withdrawal
$0
If you'd rather step away from Acorns Early because of its monthly fee, check out Step. Step combines a no-fee banking app with a secured Visa card to help teens build credit while managing their money. You can choose from a parent-managed account, where you do all the handling, or go for an adult-sponsored account, which provides your kiddo with their own login. However, Step is primarily designed for teens and doesn't have a chore tracker, but it does offer automatic transfers that can function as an allowance.
Pros
No monthly fees
Secured card that can build credit
Parent-managed account or adult-sponsored account
Cons
Limited features for younger kids
No chore tracking
Monthly fee
$0
ATM withdrawal
$0
Card type
Credit
Special offer
Earn $1 for every person that joins using your unique link or code. They'll also get $1
Acorns Early accepts ages up to 18, but so does Current Teen Banking. This account lets teens manage their money while parents stay in control, and it accepts direct deposit, which can be great for working teens. Current Teen is designed for ages 13 to 17 and has no monthly fees, and tools for parents include chore tracking and automated allowances. Teens can also use the savings roundup feature to help reach savings goals. However, parents must have their own Current account before setting one up for their teen. The good news is that the regular Current account also has no monthly fees.
Fee
$0 per month
ATM withdrawal
$0
Acorns Early accepts ages up to 18, but so does Current Teen Banking. This account lets teens manage their money while parents stay in control, and it accepts direct deposit, which can be great for working teens. Current Teen is designed for ages 13 to 17 and has no monthly fees, and tools for parents include chore tracking and automated allowances. Teens can also use the savings roundup feature to help reach savings goals. However, parents must have their own Current account before setting one up for their teen. The good news is that the regular Current account also has no monthly fees.
Modak Makers has no monthly fees, making it a more affordable alternative to Acorns Early. It doesn't charge overdraft or foreign transaction fees either, and it's available for all ages. Kids can earn Mobucks rewards by completing parent-set or app challenges, which they can redeem for cash. Parents can reload the card using Apple Pay, Google Pay, direct deposit or ACH transfers. However, the card can't be used at ATMs, and there are fees for some reload options.
Fee
$0 per month
Modak Makers has no monthly fees, making it a more affordable alternative to Acorns Early. It doesn't charge overdraft or foreign transaction fees either, and it's available for all ages. Kids can earn Mobucks rewards by completing parent-set or app challenges, which they can redeem for cash. Parents can reload the card using Apple Pay, Google Pay, direct deposit or ACH transfers. However, the card can't be used at ATMs, and there are fees for some reload options.
If you'd rather avoid digital banking options or fintechs like Acorns Early, consider Chase First Banking. The account is designed for ages 6 to 17. It has no monthly fee but requires a parent to have an eligible Chase checking account. Parents can choose spending limits, opt in for alerts, set up chore allowances, create ATM withdrawal limits and transfer funds from their Chase account. This account is also powered by Greenlight but doesn't come with Greenlight's monthly fee.
Fee
$0 per month
ATM withdrawal
$0
If you'd rather avoid digital banking options or fintechs like Acorns Early, consider Chase First Banking. The account is designed for ages 6 to 17. It has no monthly fee but requires a parent to have an eligible Chase checking account. Parents can choose spending limits, opt in for alerts, set up chore allowances, create ATM withdrawal limits and transfer funds from their Chase account. This account is also powered by Greenlight but doesn't come with Greenlight's monthly fee.
GoHenry, now Acorns Early, remains a solid option for kids aged 6 to 18, offering robust financial education tools and customizable debit cards. It stands out for its educational features, including Money Missions, which teaches topics such as investment and basic money management. There are three Money Mission levels, each designed for different ages, and they offer short films and quizzes for more engagement.
However, you can’t get around that monthly fee. If you have more than one kiddo to add, you’ll pay $10 per month for the family plan. Fortunately, there’s a free trial to try before you buy.
Pros
Accepts ages 6 to 18
Chore and allowance tracking
Customizable debit cards
Money Missions
Limited free trial
Cons
Starts at $5/month
One kid for Basic plan
No savings or cashback rewards
Bottom line
Acorns Early can offer great tools for kids’ financial education, but it’s not the only option. Whether you’re looking for stronger parental controls, savings tools or credit-building features, alternatives like Greenlight, Modak Makers and Step provide unique benefits.
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 445 Finder guides across topics including:
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