Step vs. Current [Which Teen Debit Card is Better?]

As parents, we try to teach our children the value of a dollar. We might pay them for chores, emphasize the importance of saving, and watch the concentration on their faces as they calculate whether they can afford an item or not.

All of this is a good start, but there’s more parents can do to prepare children for their financial futures. A kids’ debit card is an excellent step. Not only do debit cards teach children money management, but, depending on the account, the child might earn interest on their savings, be able to invest, or even build credit.

But, seeing as you’ve found your way here, you’re likely already planning on getting your kid a financial account and accompanying card. Now you’re just trying to decide between Step and Current.

I can help you choose. I’ve thoroughly analyzed all of the top kids’ debit cards on the market.

Today, I’m going to compare Step and Current. For each card, I’ll provide an overview, go over any costs, and detail noteworthy features. I’ll also show the essential stats side by side so it’s simple to see the similarities and differences. Just in case you aren’t fully convinced either card has everything you need, I’ll also highlight a few other competitive debit cards.

Step vs. Current Comparison

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Step Overview

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• Available: Sign up here

The free Step Visa Card is a unique “hybrid” secured credit card that’s tailor-made for kids and teens. It has the safety of a debit card, but it functions like a Visa credit card—including the ability to build your child’s credit history.

Parents, who sponsor the card for their child, add money to this FDIC-insured account and can determine how their child can spend. A regular Step account allows a child to have both a physical spending card as well as a virtual card in the Step app, while a Parent Managed Account only allows the child to spend via a physical card. Either way, they can use their card anywhere Visa is accepted.

Children can also use their cards to withdraw money from more than 30,000 ATMs for free. And parents needn’t fear that their child will overdraft—they can’t spend any money they don’t have.

Further, the Step Card comes protected by Visa’s Fraud Protection and Zero Liability guarantee. That means if your teen’s card gets lost or stolen, or misplaced and fraudulent charges crop up, you can dispute the charges within a certain time frame to avoid liability for paying.

Step also has fantastic savings benefits. Kids earn a high annual percentage yield (APY) on their money and can boost savings even more with Savings Roundup.

Step even features an “invest” function that allows children age 13 and older to buy and sell Bitcoin for a small transaction fee. The app is not a pure crypto wallet, however—your kids currently can’t spend Bitcoin directly at vendors.

Step has no age requirement, but anyone under 18 will need a parent, guardian, or trusted adult to sign them up.

Related: 7 Best Trading Accounts for Minors [Stock Investing Under 18]

Step Plans + Costs

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Step is as free as free debit cards for teens get. There are no monthly fees, no subscription fees, and no account minimum fees. Members can use more than 30,000 fee-free ATMs. Step doesn’t even charge commissions on stock trades. Step primarily makes money through “interchange” fees paid by the merchant bank, rather than charging customers. So it’s very easy to use Step and never pay a dime.

Now, Step isn’t perfectly free—no card is. There are a few situations where you could incur small fees, though most of these are par for the course for (or less than) comparable products.

For instance, merchants charge $3.95 per cash deposit—Step covers that charge for your first two deposits, but after that, you’re on your own. Same goes for card replacements—Step offers up to two free card replacements for lost physical cards. After that, there is a $5 charge for each additional card replacement. (Fortunately, you can always use Step’s virtual card for free.)

Step also charges a small fee when withdrawing funds out of a linked debit card. It costs 35¢ for transfers less than $20 or 1.75% of the transfer amount for transfers of more than $20. And when buying cryptocurrencies, buy and sell prices include a 2% markup that helps cover Step’s costs.

Step also warns about a couple of other third-party fees:

• If your child chooses to use an out-of-network ATM, Step won’t charge any fees, but the ATM operator may charge a service fee.
• Step doesn’t charge commission fees for stocks, but the government does charge a pair of small fees—a FINRA transaction activity fee (TAF) and a Security and Exchange Commission (SEC) fees—that account for a marginal percentage of your sale. Each fee is calculated as total transaction amount * $22.90 / 1,000,000, rounded up to the nearest cent, so a $1,000 trade would come out to just 4¢ in total fees.

Just keep in mind that both of the above fees are typical of just about any financial institution that offers those services.

Again: Step is as free as it gets.

Related: How to Make Money as a Kid [25 Ways For Any Age]

Step Features

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Step Card

The Step Card is a Visa-branded card that can be used anywhere Visa is accepted, which is … well, at 44 million merchants in 200-plus countries and territories, that’s just about anywhere credit cards are accepted. It can also be used to withdraw money for free from 30,000-plus ATMs. (Note: Withdrawals are capped at $250 within a 24-hour period and $1,000 within a 30-day period.)

Remember: The Step Card is technically a secured credit card. But in practice, the Step Card acts just like a prepaid debit card. Parents fund a kid’s account, and the kid can spend up to however much is in the account—but not a penny more.

Parents have several options for how to fund a Step Card, including directly through a linked bank account, a debit card, direct deposit from an employer, or payment apps like PayPal, Venmo, and Cash App. You can even deposit cash from 70,000-plus retail locations.

Lastly, the card is protected by Visa’s Fraud Protection and Zero Liability guarantee. You can dispute fraudulent charges within a certain time frame to avoid having to pay for those charges.

Credit Building

I said it in my Step review, and I’ll say it here: Step’s credit-building feature is by far and away the platform’s biggest draw.

Virtually all secured credit cards let you build credit. But Step stands out because it works differently, it has a laundry list of features most other cards don’t have, and it’s the only such card available for users under age 18.

That last point is what has made Step so popular among teens.

When a parent sponsors a card for their teen, they can opt to have Step report the past two years’ worth of information—transactions, payment history, and more—to the credit bureaus when their child turns 18. Credit scores are assigned once someone turns 18, and most teens will begin with a score of under 600. But based on a Step survey, 18-year-olds who used Step for at least seven months had an average credit score of 725.

That’s a massive difference that can mean easier access to (and lower financing rates on) everything from car insurance to apartment security deposits to student loans.

Also helpful? The card’s Smart Pay feature automatically pays off purchases every month from funds in the deposit account. That keeps kids from ever missing a payment.

Savings Goals

Lots of kids’ debit cards give different names to their de facto savings accounts: With Step, it’s called a Savings Goal. Kids can have multiple Savings Goals where they can save toward individual goals such as buying a bike or a laptop.

Users earn a competitive 5% annually—compounded and paid monthly—on up to $250,000 saved in their Savings Goals. Like with your average savings account, Step’s savings yield can change depending on movements in the Federal Funds Rate, but if that happens, Step will give you 30 days’ notice before it happens.

To qualify, the user must have a direct deposit of at least $500 per month, and the benefit extends for as long as the direct deposits continue. So even if your teen just holds down a summer job for three months and meets the qualifying direct deposit, they can still enjoy three months of high interest. (Other perks of making a qualifying direct deposit? Bonus points on dining, food delivery, charitable donations, specific merchants—and you can get paid up to two days early.)

Savings Roundup

Step also has a round-up feature: Savings Roundup. With this feature, small purchases are rounded up to the nearest dollar figure, and that extra money is put toward a Savings Goal.

Let’s say your child buys some candy for $2.75. Step will round that purchase up to $3.00 and put 25¢ toward a predetermined Savings Goal.

Related: Best Round-Up Apps for Saving and Investing Money

Investing

Step gives kids the opportunity to invest in more than 1,000 stocks and exchange-traded funds (ETFs), as well as cryptocurrency. Within Step, a child needs a stock account to invest in stocks and ETFs, then a separate crypto account to invest in cryptocurrency.

Parents must open and approve these accounts for their child. Also, kids can only invest in stocks or funds their parents have recommended for them.

Kids can invest with as little as $1 through Step thanks to fractional shares. Also, stock and ETF trading is commission-free, but Step does charge a 2% markup on crypto prices to help cover its costs.

Step’s selection of more than 1,000 stocks and ETFs is technically much smaller than the thousands of stocks and funds they could access through a traditional broker, but it’s more than enough for beginner investors—and in fact, even intermediate investors could easily build a portfolio out of Step’s holdings. The crypto offering is extremely limited, though, with only Bitcoin offered at present.

Related: Best Investing Apps for Teens Under 18 [Stock Apps]

Instant Transfers

Parents and other Step members can immediately send money to (and receive money from) one another with just a few taps. And while people rarely scoff at free money, you can include a note so the recipient isn’t scratching their head as to why you sent it.

Parental Controls

Most parents would prefer to dip their child’s toe into the money management pool rather than throw them in. Parental controls can help. Step allows you to monitor your child’s spending and freeze the card if you fear it’s lost or stolen (or fear your kid is being too irresponsible with it).

Allowance + Recurring Payments

Parents can easily set up allowance payments for their kids. You can set up recurring payments for regular chores, or one-time payments to reward your kid for spot chores, a good credit card, or otherwise doing something worth celebrating.

Related: Best Allowance and Chore Apps for Kids

Smooth Transition to Financial Adulthood

Step isn’t just for kids—adults can use it as well! Once your child turns 18, they can keep the same credit card number and account. Step will handle getting them appointed as the legal owner of the account and make it an independent account. Everything stays the same from the cardholder’s end. They can continue to use the card and keep building their credit history.

You can sign up for Step here.

Related: 30 Best Side Hustles for Teens [In-Person + Online]

Current Overview

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• Available: Sign up here

The Current mobile banking app is designed with families in mind. It offers both adult and teen accounts—and the latter comes with a prepaid debit card that parents load for their children.

This kids’ debit card comes with fee-free ATM access, instant gas hold removals, Round-Ups, and more.

Current allows you to track your teen’s spending in real-time, set limits on how much your children can spend, and even block specific merchants on its Visa-enabled debit cards. You also get the peace of mind that comes with knowing your children’s money is safe because it’s not cash—no temptations, just a tool parents can use to help teach teens financial responsibility and sound money management skills.

Current doesn’t specifically state a minimum age requirement, but the company’s marketing suggests teens are the target audience. Still, you might be able to open an account for a younger child.

Related: The 5 Best Brokerage Accounts for Teens

Current Plans + Costs

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Current is a completely free card, so there’s only one “plan” of which to speak:

A parent must create a free Current Individual Account to set up Current Teen Account. However, there are no minimum required balances, fees for transfers to other Current accounts, or in-network ATM fees.

Still, Current users might still incur a few fees, including:

• Out-of-network ATM usage ($2.50 per transaction)
• Foreign transactions (3% of the full transaction amount, minimum $0.50.)
• Late payment (3% of any total due balances outstanding and past due for two or more billing cycles)
• Cash reloads ($3.50)

Many users can avoid these fees, but it’s still good to keep them in mind.

Current Features

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Current has several features that help it stand out from other debit cards for teens. Here are the most pertinent aspects you should know:

Current Card

The Current experience centers around the Current Visa debit card. Teens can use the Current debit card to shop both in stores or online, or to withdraw cash fee-free from more than 40,000 in-network Allpoint ATMs.

Parental Controls

Parents have several ways to limit their teens’ spending.

The cards automatically come with daily maximums of $500 for ATM withdrawals and $2,000 for spending, but parents can adjust these as they want.

Parents can also toggle certain spending categories (including ATMs) on and off, and even turn the card on and off, if necessary.

Allowance + Chores

Current has one of the most flexible allowance options available, allowing you to choose monthly, bi-weekly, weekly, and even daily money transfers! (I think daily is a little too frequent, but it’s there if you need it.) Simply set an amount, a funding source, start date, and frequency.

You can also assign chores to your teen (who must mark the chore as completed once they’re done with it), then pay them regularly on a weekly basis. But you have some optionality—you can pay your teen early, and you can also adjust payment if some chores aren’t completed on time.

Savings Pods

Each Current teen account comes with a Savings Pod, which is effectively a savings account—you can name it, set a goal amount, even add an image to it.

Related: Best Automatic Savings Apps + Accounts

Giving Pods

Want to instill the importance of giving back to your child? Current Teen Accounts come with a Giving Pod that allows your teenager to donate to their favorite charity.

Round-Ups

The Current card also offers basic Round-Ups, where every purchase is rounded up to the nearest dollar and the difference is stored in the Savings or Giving Pod. This makes saving simple and automatic.

Cash Deposits

Whether your child has a job that pays cash tips or receives money in celebratory cards, they can deposit that cash into their Current account at more than 60,000 stores nationwide, including popular retailers such as 7-Eleven, Dollar General, CVS Pharmacy, and more.

To find participating retailers, look at the “Add Cash” map. Once there, simply tell the cashier you want to deposit cash. Once the cashier scans the barcode, the funds are immediately available. Deposits can be up to $500 per transaction, though Current does charge a $3.50 cash reload fee.

Gas Hold Removals

Nobody likes having their money tied up, and that’s exactly what happens with gas holds, where a gas station puts a hold—usually of $50 or more—on your account until the transaction goes through. With the parent’s Current account, the teen can get instant gas hold removals.

Interested in Current? You can sign up here.

Related: Best Teen Checking Accounts [Banks for Teens]

Step vs. Current: Our Editors’ Choice Is …

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Step and Current are both solid options for kids’ debit cards that have no monthly fees. Either card can cover the basic features of allowance, chores, and ATM access. Plus, they offer interest on children’s savings and let kids save faster by rounding up their purchases.

Current has a few features that Step doesn’t, including spending insights and gas hold removals. It also has slightly more comprehensive parental controls.

However, Step has highly competitive features that blow Current’s features out of the water. To start, Step users can invest in stocks, ETFs, and even Bitcoin, making it an excellent way to introduce investing to your child.

Step also offers 5% APY— the highest APY of any debit card for minors. But what really makes Step stand out from Current (and all other kids’ debit cards for that matter!) is the ability to help children build credit.

If gas hold removals and spending insights are extremely important to you, by all means, sign up for Current.

But we believe Step provides much more value and recommend you sign up for a Step account for free. You can sign up for Step here.

Related: 26 Best Online Jobs for Teens [Earn Money at Home, Age 13+]

Other Debit Cards for Kids to Consider

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If you’re still not convinced on Step or GoHenry, you might want to look at these other highly rated options:

Related: 13 Best Money Apps for Teens [Invest, Spend, Budget + Pay]

1. Fidelity Youth^™ Account (Best Free Debit Card With Teen Investing)

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• Available: Sign up here
• Price: No account fees, no account minimum, no trading commissions*
• Platforms: Web, mobile app (Apple iOS, Android)
• Promotion: Teens get $50¹ on Fidelity^® when they download the Fidelity Youth^™ app and activate their Youth Account; parents get $100 when they fund a new account

Is your teen interested in jumpstarting their financial future? Do you want them to build smart money habits along the way?

Of course you do! Learning early about saving, spending and investing can pay off big when you start on the right foot. And one tool that can help your teen get that jump is the Fidelity Youth^™ Account—an account owned by teens 13 to 17 that’s designed to help them start their money journey. They can start investing by buying most U.S. stocks, exchange-traded funds (ETFs), and Fidelity mutual funds for as little as $1!⁴

Your teen will also get a free debit card with no subscription fees, no account fees³, no minimum balances, and no domestic ATM fees⁵. And they can use this free debit card for teens to manage their cash and spend it whenever they need.

And as for building smart money habits? You and your teen can access your account through the Fidelity Youth^™ app, which has a dedicated Learn tab packed with materials developed specifically to help teens develop good financial habits. Not only will Fidelity’s interactive lessons, videos, articles, tools, and calculators accelerate their learning—but for every level they complete, reward dollars will be deposited into their account to use however they want.

We’ll note that Fidelity Youth^™ Account isn’t a prepaid card nor a banking app, but it’s still strongly worth considering.

Controls parents want and need

A parent or guardian must have or open a brokerage account with Fidelity® to open a Fidelity Youth™ Account. For new Fidelity^® customers, opening an account is easy, and there are no minimums and no account fees.

Parents and guardians have plenty of tools they can use to monitor their teen’s activity: They have online account access, can follow monthly statements and trade confirmations, and can view debit card transactions made in the account.

To make it even easier, you can set up alerts to notify you of trades, transactions, and cash management activity, keeping you firmly in the loop on actions your teen takes across the Fidelity Youth^™ Account’s suite of products.

If your teen has an interest in learning about investing and taking their first steps toward building their financial journey, you should consider downloading the Fidelity Youth^™ app and opening a Fidelity Youth^™ Account. The account comes custom-built for their needs, which will help them become financially independent and start investing for their future.

Read more in our Fidelity Youth^™ Account review.

Related: Best Banking Apps for Kids & Teens [Teen Banking]

2. Greenlight (Best-Rated Debit Card for Teens)

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• Available: Sign up here
• Price: Free 1-month trial. Core: $4.99/mo. Max: $9.98/mo. Infinity: $14.98/mo. (All plans include cards for up to 5 children)

The Greenlight debit card allows kids to begin spending, but provides parents with peace of mind by giving them control over where their kids can spend money. Parents also can choose to receive alerts that tell them when, and how much, money is spent on the Greenlight debit card.

Greenlight works like a prepaid debit card, allowing you to transfer money onto the card for your child to pay for expenses at approved locations. You can choose how much money to load onto the card, and your child will be cleared to make approved purchases so long as a money balance backs up the card.

If your child asks for extra money to get added to the card, you can have them take a photo of the purchase they want to make and receive your approval. This gives you control and allows you to have discussions with your child about why a purchase might be a good or bad idea. And if your child has a job, they can add their own funds to the card as well.

The Greenlight debit card is a good choice for parents looking to teach their kids the importance of saving money and making prudent financial decisions. This financial product can be an effective learning tool for helping kids to understand why saving should be a priority and how to simplify paying an allowance or tracking chores. Greenlight has no minimum age requirements for this card, but recommends starting at age 6 or older.

Greenlight boasts numerous other features, too.

For instance, parents can open an investment account for kids to get their children investing in stocks and exchange-traded funds (ETFs) for the first time.

Greenlight offers monthly savings rewards based on your tier: 1% per annum for Core members, 2% per annum for Max, and 5% per annum for Infinity. You may set up “Parent-Paid Interest” between you and your child. This allows you to foot the bill and pay interest on accounts for up to five kids.

Any Greenlight subscription also lets users qualify for the cash-back Family Cash Card. Parents can add their teenagers as authorized users to this Mastercard help them learn how credit cards function and establish a credit history. This credit card offers the following cash-back rewards:

• 3% cash back when you spend at least $4,000 in a billing cycle
• 2% cash back when you spend at least $1,000 (but less than $4,000) in a billing cycle
• 1% cash back when you spend less than $1,000 in a billing cycle

There is no limit to the cash back that can be earned, and users can also auto-invest the cash-back rewards.

Each monthly Greenlight subscription includes debit cards for up to five kids. Replacement cards cost $3.50 each but are free the first time. If you need to replace your card quickly, you can get express delivery for $24.99. The company also offers a personalized debit card for kids, with your own photo or design, for $9.99.

Read more in our Greenlight card review.

Related: How to Invest as a Teenager [Start Investing as a Minor Under 18]

3. Copper Card (Best Debit Card for Kid Independence)

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• Available: Sign up here
• Price: 30 days free. Copper: $4.95/mo. Copper + Invest: $7.95/mo.

Copper Banking was founded on the belief that kids and teens should have equal access to financial education and should be empowered to learn by doing. Now, the company is on a mission to help children gain real-world experience by giving them access to their money in a way that traditional banks can’t.

The Copper app and debit card teaches your child how to make smart financial decisions by creating a platform where parents and their kids can connect. With the Copper app, you get easy snapshots of your accounts. And with the Copper Debit Card, it’s easy to shop in-store or online, including with Apple Pay or Google Pay.

Plus, users get exclusive access to engaging advice curated by a team of financial literacy experts who provide tips on how to take control of their financial future.

Copper features

When I reviewed the Copper banking product, I found the following features to be most important:

• Send/Request: Kids and parents can easily send and receive money all at the touch of a button.
• Spend: Spend using Apple or Google Pay, or using the Copper Debit Card.
• Withdraw: Access your money from more than 55,000 fee-free ATMs.
• Monitor: Get a snapshot of all your child’s spending in an easy-to-read dashboard.
• Save: Gain quick snapshots of your kid’s savings and helpful tips on how to save even more. Set up savings buckets and save for the things that you want.
• Learn: With the help of Copper’s team of financial literacy experts, gain bite-sized tips on how you can maximize your money and prepare yourself for your financial future.

The basic Copper account includes the above banking features. With Copper + Invest, your child also gets access to automatically curated smart portfolios built with their preferences in mind. (We like the guardrails they provide to get your child started with investing.) Your child is given a questionnaire that helps Copper determine a portfolio based on their age, income, net worth, investment objective(s) and investment horizon. Copper then recommends one of three ETF portfolios—Moderately Aggressive, Aggressive, and Extra Aggressive—made up of thousands of stocks. Parents can review the portfolio to ensure it matches with not just your child’s preferences, but your family’s. (Portfolios can be changed later on by accessing the Support chat.)

Much like many other apps I’ve reviewed on WealthUp, your child doesn’t need much money to begin their investing journey with Copper. They can begin investing for as little as $1, then add more contributions down the road. Copper will automatically rebalance the portfolio as needed to make sure it always keeps up with your child’s investment preferences.

Copper is available to kids 6 years and older.

Read more in our Copper Banking review.

Related: Should You Open a Child Bank Account With a Debit Card?

4. Revolut <18 (Best for Parent-Paid Bonuses)

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• Available: Sign up here
• Price: No monthly fees

Revolut <18 is a prepaid debit card for kids designed to teach them money skills for life. Aimed at building healthy money habits from an early age, the unique, customizable card empowers parents to have full insight into their kids’ card activity through providing instant spending alerts and parental controls.

You can choose to freeze the card, set controls on how they use the cards online and with contactless payments through your Revolut app. Further, you can set spending limits on how much your child can use with the prepaid card.

Parents use the card and accompanying app to teach kids about earning, budgeting, saving and even investing money (depending on the plan chosen). You can also use the card to manage chores and allowance, set savings goals as a family and help your children manage their money.

And if your child did something deserving of a reward? You can send parent-paid bonuses when they complete specific tasks. Simply add money to their digitized piggy bank through the app. You can send and receive money in seconds through Revolut’s Payments feature, which allows instant transfers between account holders and also global transfers at transparent rates.

Of note: You must have a personal Revolut account before you can open a Revolut <18 account for your children. You can add up to five Revolut <18 accounts per parent account.

To learn more about Revolut <18, consider visiting their site and opening an account for yourself and your child.

Related: Best Credit Cards for Kids [Start Building Credit Early]

5. GoHenry (Best for Customer Service)

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• Available: Sign up here
• Price: 1 month free. Individual: $4.99/child/mo. Family: $9.98/mo. for up to 4 children

GoHenry is a financial solution for minors that includes an app, prepaid debit cards, and even financial lessons. Parents are given an online account that’s linked to, and allows them to oversee and manage, individual accounts for each of their children via both the GoHenry app and the online account portal.

Each child will receive their own GoHenry debit card; you can choose from 45 different designs or create your own customized card for $4.99. Each card is governed by parental controls you can set for your children.

What’s nice about GoHenry is that kids can only spend whatever money is available on the card—and thus parents don’t need to worry about costly overdraft fees or their kids accruing debt.

When you open a GoHenry account, you should receive your children’s debit cards in the mail seven to eight business days later. Once you do, you can set up events such as automatic weekly allowance transfers into your children’s accounts, real-time spending alerts, and one-off or weekly spending limits. You can also keep your children’s spending in check by choosing the stores where your kids can shop, and even blocking/unblocking the card as needed.

With time, the controls provided by the app and the guidance you offer can help your kids develop good money habits around earning, saving, spending, and giving.

But the GoHenry card really sticks out as one of the best kid-friendly debit cards for customer service in our testing. When we checked with their customer service, they offered everyday phone availability, email access, and social media engagement, ensuring users can solve their problems quickly and with little hassle. One small nit we found was reduced hours of customer service representative availability compared to our last annual check when they offered 24/7 support. Still, the customer service was found to be admirable in our estimation.

GoHenry has no minimum age requirements but recommends starting at age 6 or older.

Learn more by reading our GoHenry debit card review.

Related: GoHenry vs. Greenlight

What Is a Debit Card for Kids?

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Children generally can’t open their own bank account until they reach the age of majority in their state—often 18 years old. Thus, parents often look for other paths, such as opening a sub-account from their own bank account so they can provide their children with a card to use. In that event, your child likely will need to be at least 13 years old before receiving a card.

Unfortunately, these accounts might not come with the custom spending controls, parental oversight, or feature-filled mobile apps provided by many new debit cards for kids. These new apps provide numerous controls over your children’s spending, including spending notifications, limiting where your child can use the card, and even allowing you to quickly lock and unlock the card. And in many cases, you simply fund your child’s debit card, so it effectively functions as a prepaid debit card.

Traditional banks or prepaid debit cards might not allow you to do this beyond keeping the account balance at a certain level.

Related:

• Best Credit Cards for Teens [Build Credit]
• 4 Best Ways to Save Money for Kids [Children’s Savings Plans]
• Best Investments for Beginners to Start Investing

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Terms and Conditions for Fidelity Youth™ Account

The Fidelity Youth™ Account can only be opened by a parent/guardian. Account eligibility limited to teens aged 13-17.

* $0.00 commission applies to online U.S. equity trades and exchange-traded funds (ETFs) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). Other exclusions and conditions may apply. See Fidelity.com/commissions for details. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Institutional® are subject to different commission schedules.

¹ Limited Time Offer. Terms Apply. Before opening a Fidelity Youth™ Account, you should carefully read the account agreement and ensure that you fully understand your responsibilities to monitor and supervise your teen’s activity in the account.

² The Fidelity Youth™ app is free to download. Fees associated with your account positions or transacting in your account apply.

³ Zero account minimums and zero account fees apply to retail brokerage accounts only. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs) and commissions, interest charges, or other expenses for transactions may still apply. See Fidelity.com/commissions for further details.

⁴ Fractional share quantities can be entered out to 3 decimal places (.001) as long as the value of the order is at least $0.01. Dollar-based trades can be entered out to 2 decimal places (e.g. $250.00).

⁵ Your Youth Account will automatically be reimbursed for all ATM fees charged by other institutions while using the Fidelity® Debit Card at any ATM displaying the Visa®, Plus®, or Star® logos. The reimbursement will be credited to the account the same day the ATM fee is debited. Please note, for foreign transactions, there may be a 1% fee included in the amount charged to your account. The Fidelity® Debit Card is issued by PNC Bank, N.A., and the debit card program is administered by BNY Mellon Investment Servicing Trust Company. These entities are not affiliated with each other, and Fidelity is not affiliated with PNC Bank or BNY Mellon. Visa is a registered trademark of Visa International Service Association, and is used by PNC Bank pursuant to a license from Visa U.S.A. Inc.

⁶ Venmo is a service of PayPal, Inc. Fidelity Investments and PayPal are independent entities and are not legally affiliated. Use a Venmo or PayPal account may be subject to their terms and conditions, including age requirements.

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917

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Step Disclaimer

Disclaimer: Step is a trademark of Step Mobile, Inc.