Copper Banking Review: Debit Cards For Teens

If you might be researching checking accounts for teenagers, Copper Banking is value contemplating. The service supplies a number of banking instruments that may assist mother and father educate their children easy methods to handle cash.

As a mother or father, you possibly can effortlessly ship cash to your little one, activate parental controls and monitor their account exercise.

Your teen receives a free debit card that may make native or on-line purchases. They may also make free ATM withdrawals and enroll in direct deposit.

This Copper Banking overview will help you determine if that is one of the best checking account on your teen.

copper bank logo


Get as much as 5 free teen checking accounts with free ATM entry and customizable financial savings targets. Parents can ship prompt cash transfers to their youngsters and monitor their accounts. However, this app doesn’t provide chore assignments or service provider blocking.


  • Five teen accounts
  • 55,000+ free ATMs
  • No account charges


  • Low rate of interest
  • Limited parental controls
  • Minimal customer support

What is Copper Banking?

Copper Banking is an online-only banking service that provides free checking accounts for teenagers. There aren’t any native branches, however you possibly can fund your account utilizing exterior banks and cost apps.

These checking accounts have as much as $250,000 in FDIC Insurance by means of Evolve Bank & Trust.

Parents can create accounts for as much as 5 children. Then, they will help their youngsters study the fundamentals of spending and saving cash. 

This banking app has 4 major missions:

  • Educate: Teens can take brief money-related classes 
  • Save: Create financial savings targets that mean you can plan for the longer term
  • Spend: Receive a debit card for native or on-line purchases
  • Send: Parents can immediately ship funds to teenagers

Parents could respect this teen banking app since they will simply ship funds to their youngsters and monitor their accounts for security. 

In addition, in contrast to different teen financial institution accounts, this platform is presently free.

Teens can profit from this service as they obtain a debit card and have a number of methods to obtain funds. 

The service additionally provides monetary literacy instruments. These assist teenagers study extra about managing cash and saving for future bills.

How Does Copper Banking Work?

Copper Banking helps teenagers get their first checking account whereas avoiding any annoying financial institution charges. 

Some of the important thing advantages embrace:

  • Automating allowance funds
  • Enrolling in direct deposit
  • Free debit playing cards
  • Access to 55,000+ fee-free ATMs
  • Creating financial savings targets
  • Financial training instruments
  • Up to $250,000 in FDIC insurance coverage

Parents or guardians can obtain the Copper Banking app from the App Store or Google Play. It’s free to affix and arrange a mother or father account. Then, you possibly can create as much as 5 little one accounts. 

Banking legal guidelines presently require you to be a minimum of 18 years previous to open a checking account. As a end result, mother and father should be the first member, and so they can add youngsters.

Each account should even have its personal cellphone quantity. This signifies that your little one will want a cellphone plan earlier than they will get a debit card.

After creating an account, every little one will obtain a free debit card. 

Parents can hyperlink an present checking account or digital pockets (i.e., PayPal, Venmo or the Cash App) to fund the account and schedule recurring allowance funds. 

Teens can use the debit card for purchases and withdraw money at over 55,000 surcharge-free ATMs. They may also set up financial savings targets to put aside cash.

How Much Does Copper Banking Cost?

In most circumstances, you gained’t pay any charges to make use of Copper Banking for purchases or ship cash to your youngsters.

Some of the opposite typical banking charges you gained’t pay embrace:

  • Monthly service charges
  • Overdraft charges
  • Minimum account stability
  • In-network ATMs (Allpoint Network)

Unfortunately, you’ll pay charges for less-common companies like out-of-network ATMs and prompt debit card transfers.

Fees for these non-obligatory companies embrace:

  • Non-network ATM withdrawals: Varies
  • Cash deposits at Green Dot kiosks: Up to $4.95
  • Instant debit card transfers: Varies

It’s doable to keep away from switch charges once you ship funds from a linked checking account or digital pockets. However, it could possibly take as much as 5 enterprise days to finish a switch from an exterior account.

Transfers between Copper accounts are free and prompt.

Account Limits

This account is greatest for making small purchases and deposits since there are some account limits to remember.

Copper Banking has the next deposit and withdrawal limits:

  • $500 day by day deposit restrict for debit card funding and ACH financial institution transfers
  • $2,000 month-to-month deposit restrict for debit card and ACH financial institution transfers
  • $2,000 day by day spending restrict 

These limits gained’t impression most teenagers and school college students. However, mother and father can’t scale back the day by day spending limits or block retailers like some platforms enable.

Copper Banking Features

Here are a few of the greatest perks of utilizing Copper Banking.

Free Teen Accounts

You can create free banking accounts for as much as 5 youngsters. Other teen debit playing cards could cost account upkeep charges.

This on-line checking account provides a Mastercard debit card and supplies a number of methods to ship or obtain funds.

When ready for the bodily debit card to reach, teenagers and adults have a digital debit card to make on-line purchases within the United States. The card additionally pairs with Apple Pay and Google Pay.

This account provides extra checking account linking choices than a few of the different custodial banking companies. 

The Copper Banking debit card can hyperlink to those digital platforms:

  • Apple Pay
  • Google Pay
  • Cash App
  • Venmo
  • PayPal

It’s doable to pay for purchases or fund your account with these digital wallets.

Instant Transfers

Parents can immediately switch funds from their Copper account to their little one’s account. 

Transfers from exterior financial institution accounts and pockets apps are free however can take a number of enterprise days until you pay a small price for immediate debit card transfers.

Direct Deposit

Teens will obtain banking particulars to allow them to enroll in direct deposit for his or her part-time job. 

Better but, relying on their employer’s financial institution, direct deposits can arrive as much as two days early.

Savings Goals

While you can’t open a separate financial savings account, teenagers can create a number of financial savings targets to routinely put aside cash every month.

The app tracks their financial savings progress. Parents and teenagers may also see their spending and financial savings stability. 

Your total banking account stability earns 0.001% APY curiosity. This rate of interest is meager, so it’s higher to open a high-yield financial savings account for long-term money reserves.

Allowance Payments

Parents can schedule recurring allowance funds or make one-time transfers to every teen account.

Unlike a few of the different checking accounts for teenagers, you can’t assign a chore listing within the app. However, it’s doable to skip automated funds when obligatory.

Teens may also request cash from their mother or father’s account after they want just a few additional {dollars}.

Parental Controls

Parents can observe their youngsters’s banking and debit card exercise through notifications or by logging into the app.

Unlike some banking apps, you can’t disable spending at sure shops or retail classes. 

If you need extra hands-on management, different apps is likely to be a greater match. However, you might must pay an account service price for this extra functionality.

Fee-Free ATMs

While most locations settle for debit card funds, it’s additionally a good suggestion to have some money readily available. 

Copper Banking works with the 55,000+ Allpoint ATMs that provide surcharge-free withdrawals. 

Financial Literacy Lessons

The service strives to show the significance of saving and studying easy methods to handle cash.

The “cheat codes” part has brief movies to study monetary literacy fundamentals.

Some of the matters embrace:

  • Saving cash
  • Budgeting
  • Investing
  • Debt
  • How financial institution accounts work

Teens may also take quizzes to check their data. In some circumstances, the app awards money rewards for finishing monetary literacy duties.

Cash Deposits

Despite being an online-only financial institution, you may make money deposits at native Green Dot refill places.

While Copper Banking doesn’t cost a deposit price, the third-party price is as much as $4.95 per deposit.

Earn Bonus Cash

It’s doable to earn a $3 bonus by getting buddies to affix Copper Banking utilizing your referral hyperlink. 

The app might also provide extra bonus alternatives. For occasion, you would possibly get money again at taking part retailers or by taking monetary quizzes.

What Others Are Saying

Many folks reward how simple it’s to open an account and handle funds with this app. However, you can’t make overseas transactions, and the customer support choices are restricted.

While the service remains to be comparatively new and has no opinions on Trustpilot or the Better Business Bureau but, it acquired nice scores in each of the app shops.

Apple App Store

The Copper Banking app has a 4.8 out of 5 ranking with over 9,700 scores within the Apple App Store.

Here are a few of the opinions from app customers:

“Banks make it difficult for teenagers to have, manage, use and save money…This app provides an amazing alternative, teaches independence along with financial responsibility, budgeting, saving, planning, tracking.” – 0912m

“They say they work with PayPal and Venmo, but it has been nothing but problems trying to get Copper and those two banks connected. When I asked for help via email, the same, unhelpful response was repeated back to me over and over again.” – down2earth

“The app is really easy to use. It allows me to monitor [my daughter’s] activity and to easily transfer money to her account. She is learning a lot with this app.” – DeltaCo52

“This is a great app for a teenager like me, it is easy to use and works very well. I do wish they had foreign transactions in the app so you can buy from a website, but I don’t mind that they don’t have it.” – Ctrow10

Google Play

In Google Play, the Copper Banking app has a 4.7 out of 5 ranking with over 2,600 opinions. 

Here are a few of the opinions customers posted within the Google Play retailer:

“Great starter banking for teens. Love how I can monitor my child’s spending and send money to her directly in seconds!” –Ashley F.

“Support does not respond when you need assistance through text message. Also it took 3 weeks to receive a debit card.” – Lovely

“Best bank ever. I love Copper, and so does my teen. It’s easy to use, and provides freedom for both, my teen and I. It allows my teen to budget, and save. Copper provides financial stability, and awareness.” – Shanni Bby

“Bank transfers take longer than they did in the 1900s. Even after setting up and transferring money from my bank several times, the transfers into Copper take several days.” -Kathryn Sparks

Alternatives to Copper Banking

Copper Banking is an efficient and reasonably priced teen banking app. However, it could lack the customization and advantages of different companies.


Greenlight provides as much as 5 little one debit playing cards and two mother or father playing cards for $4.99 monthly.

Some of the featured advantages embrace:

  • Store and ATM parental controls
  • Apple Pay or Google Pay-compatible
  • Allowance funds
  • In-app chores listing
  • Earn as much as 2% again on debit card purchases
  • Banking and funding accounts

You may also pay your little one curiosity on their financial savings stability as an incentive to spend much less.

Consider this service if you need extra parental controls and chore administration instruments. 

Read our Greenlight overview to study extra.


FamZoo is a good possibility if you need a customizable funds along with banking options. 

This platform enables you to set parental controls to limit purchases whereas additionally managing chores and allowances.

You pays $5.99 month-to-month or $59.99 for a 24-month plan. Each pay as you go debit card plan provides a card for every individual in your loved ones.

Read our FamZoo overview to search out out extra.


Of these Copper Banking options, Current is the service that’s most like a conventional on-line banking expertise. 

Teens can have extra flexibility with spending and saving, whereas mother and father have extra strong spending controls.

It’s simple for teenagers to create financial savings pods or round-up debit card purchases and switch the distinction to their long-term targets. 

Better but, debit card purchases can earn money again at choose shops and eating places.

Parents can block retailers and set day by day spending limits. Assigning chores and scheduling allowance are doable as effectively.

Each teen account prices $36.

Check out our Current Bank overview to study extra.


Want to study extra about Copper Banking? These solutions could assist make clear any remaining questions you may have.

Is Copper Banking free? 

Yes, it’s free to open a mother or father account and obtain as much as 5 little one debit playing cards. There aren’t any month-to-month service charges or minimal stability necessities.

There are additionally no overdraft charges or in-network ATM charges (Allpoint ATMs). 

However, you’ll incur expenses for immediate debit card transfers, out-of-network ATM withdrawals and money deposits at Green Dot kiosks.

What are the Copper customer support choices?

You can attain Copper by means of the in-app chatbot or by sending an e mail. There presently isn’t a dwell cellphone help possibility.

Is Copper a checking account?

youngsters. The account has as much as $250,000 in FDIC insurance coverage by means of Evolve Bank & Trust.

How do you be a part of Copper?

You can be a part of Copper Banking by downloading the Android or Apple cellular app. Then, the mother or father registers their title, cellphone quantity and Social Security quantity.

After the mother or father registers and establishes an account, as much as 5 teenagers can have a custodial account.

Keep in thoughts that every account wants a separate cellphone quantity.
The platform mails a bodily debit card to every new teen account.


Copper is a wonderful free checking account for teenagers as a result of it’s simple to obtain funds. The debit card works for many native and on-line purchases. 

Free ATM entry at 50,000+ kiosks and the monetary literacy instruments are invaluable as effectively.

Parents will discover it simple to pay an allowance and monitor their youngsters’s accounts. However, there are fewer parental controls to dam retailers and restrict spending.

Overall, if you’re in search of a free checking account on your teen, Copper Banking is a implausible possibility.