Updated
2023-06-30T22:38:12Z
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Kids’ debit cards can be utilized for teaching children or teenagers about how to be smart with money.
Rewards
Earn rewards by using a Step Visa Card at qualifying merchants — restaurants, clothing stores, gas stations, and more.
Rewards
Earn rewards by using a Step Visa Card at qualifying merchants — restaurants, clothing stores, gas stations, and more.
Step, FDIC Insured Account
Step – Banking for Teens
Step, FDIC Insured Account
Details
Rewards
Earn rewards by using a Step Visa Card at qualifying merchants — restaurants, clothing stores, gas stations, and more.
Recommended Credit
No Credit
Regular Annual Percentage Rate (APR)
None
Pros & Cons
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A check mark. It indicates a confirmation of your intended interaction.
No monthly fees, interest, or minimum deposit required
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Secured card allows users to build a positive credit history while they’re still a minor without risk of missing payments
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Step will report payment history to credit bureaus once you turn 18, potentially increasing your credit score
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No interest paid on deposits
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A dash. It often indicates an interaction to shrink a section.
Minors require a parent, guardian, or trusted adult to sponsor their account
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Fees for ATM withdrawals outside of Step’s network
Highlights
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It indicates an expandable section or menu, or sometimes previous / next navigation options.
Step is helping the next generation build credit even before they turn 18 with no monthly subscription fees, no account minimum fees, no overdraft fees, and no in-network ATM fees across 30,000+ ATMs.
Step is a secured credit card that has a dynamic credit limit that is attached to the bank account balance — it operates like a debit card but it is a credit card, which is what enables the unique credit building feature.
18 year olds who used Step for 7+ months earned an average Credit Score of 725.
Step reports your credit history to Experian, Equifax, and TransUnion. Once you opt in, Step reports up to 2 years of your history.
Security you can trust: banking services are provided by Evolve Bank & Trust and FDIC-insured up to $250,000. Powered by Visa with built-in fraud protection and Zero Liability guarantee for unauthorized charges.
Earn cashback rewards: get money back for shopping with your Step Visa Card at qualifying merchants — places you know and love. New offers are added every month.
Get your paycheck earlier: users can set up direct deposit and get their paycheck up to 2 days earlier than if they were to use a traditional bank or get their check in the mail.
Investing: Step allows the next generation to start investing in stocks & ETFs even before they turn 18 with as little as $1, with no commission fees or monthly subscription fees and a simple and straightforward investing platform. Step will provide guidance with education and supportive resources to help the next generation learn how to best manage their money. They’ll learn how to invest earlier in life, getting a headstart on their financial future while time is on their side with customizable risk tolerance buckets to align their investment strategy with their goals.
Below, you’ll find our top picks for kids’ debit cards. We’ve researched each debit card’s features and fees so that you can narrow down your options and choose the best debit card for you and your child.
Famzoo Prepaid Debit Card: Best overallBusyKid Spend Card: Best for parental control featuresChase First Banking: Best for traditional bankingGoHenry Card: Best for financial literacy educationCopper Debit Card: Best for teens
Compare Debit Cards for Kids
Famzoo Prepaid Debit Card
3.75/5
A five pointed star
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A five pointed star
A five pointed star
A five pointed star
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
None
Fees
$5.99 monthly service fee, $25.99 for six months, $39.99 for 12 months or $59.99 for 24 months
Famzoo Prepaid Debit Card
3.75/5
A five pointed star
A five pointed star
A five pointed star
A five pointed star
A five pointed star
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
None
Fees
$5.99 monthly service fee, $25.99 for six months, $39.99 for 12 months or $59.99 for 24 months
Famzoo Prepaid Debit Card
Details
Fees
$5.99 monthly service fee, $25.99 for six months, $39.99 for 12 months or $59.99 for 24 months
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
None
Pros & Cons
Chevron icon
It indicates an expandable section or menu, or sometimes previous / next navigation options.
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Can assign chores
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Can set up a weekly allowance
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Save for individual goals
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Parental monitoring features to limit spending
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Access to over 30,000 ATMs
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
No ATMs fees
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Up to four free debit cards are included in the subscription
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
May deposit cash at GreenDot locations
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Don’t need a bank account to open a FamZoo card
Dash icon
A dash. It often indicates an interaction to shrink a section.
Monthly service fee depends on payment plan
Dash icon
A dash. It often indicates an interaction to shrink a section.
Up to $4.95 in cash reload fees at Green Dot locations
Dash icon
A dash. It often indicates an interaction to shrink a section.
Doesn’t reimburse out-of-network ATM fees
Highlights
Chevron icon
It indicates an expandable section or menu, or sometimes previous / next navigation options.
Access to surcharge-free ATMs through the MoneyPass network
Minors of any age can get a debit card
Multiple subscription plans: $5.99 monthly service fee, $25.99 for six months, $39.99 for 12 months OR $59.99 for 24 months
Reload the prepaid debit card at retailers like Kmart, Rite Aid, 7-Eleven or Walgreens; May have to pay a $4.95 reload fee
May load paychecks onto the debit card without paying a fee
Funds secure in an FDIC-insured bank account
Banking services issued by SouthState Bank (Member FDIC)
BusyKid Spend Card
3.75/5
A five pointed star
A five pointed star
A five pointed star
A five pointed star
A five pointed star
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
None
Fees
$3.99 monthly service fee or $38.99 annual fee
BusyKid Spend Card
3.75/5
A five pointed star
A five pointed star
A five pointed star
A five pointed star
A five pointed star
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
None
Fees
$3.99 monthly service fee or $38.99 annual fee
BusyKid Spend Card
Details
Fees
$3.99 monthly service fee or $38.99 annual fee
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
None
Pros & Cons
Chevron icon
It indicates an expandable section or menu, or sometimes previous / next navigation options.
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
For children between the ages of 5 and 17
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Can assign chores
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Can set up a weekly allowance
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Can donate to charities
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Save for individual goals
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Parental monitoring features to limit spending
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Access to 55,000 free ATMs
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Up to five free debit cards are included in the subscription
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Can’t overdraw from account
Dash icon
A dash. It often indicates an interaction to shrink a section.
Monthly service fees depend on plan
Dash icon
A dash. It often indicates an interaction to shrink a section.
$1.50 out-of-network ATM fee
Dash icon
A dash. It often indicates an interaction to shrink a section.
No refunds if you’re charged by an ATM provider
Highlights
Chevron icon
It indicates an expandable section or menu, or sometimes previous / next navigation options.
Access to surcharge-free ATMs through the Allpoint network
Minors between the age of 5 and 17 may get a card
Multiple subscription plans: $3.99 monthly service fee or $38.99 annual fee
BusyKid offers a debit card and app that lets both parents and kids manage the card
BusyKid Spend Card issued by MVB Bank (Member FDIC)
Chase First Banking℠ Account
3.75/5
A five pointed star
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A five pointed star
A five pointed star
A five pointed star
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
Fees
no monthly service fee
Chase First Banking℠ Account
3.75/5
A five pointed star
A five pointed star
A five pointed star
A five pointed star
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Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
Fees
no monthly service fee
Chase First Banking℠ Account
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
Pros & Cons
Chevron icon
It indicates an expandable section or menu, or sometimes previous / next navigation options.
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
No minimum opening deposit
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
No monthly service fees
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Debit card included
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Savings tools to help kids set goals
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Parental monitoring tools that let you set up alerts or limits on purchases
Dash icon
A dash. It often indicates an interaction to shrink a section.
Unable to earn interest on account
Dash icon
A dash. It often indicates an interaction to shrink a section.
Fee for non-Chase ATMs
Highlights
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It indicates an expandable section or menu, or sometimes previous / next navigation options.
Additional Reading
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GoHenry Card
3.5/5
A five pointed star
A five pointed star
A five pointed star
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Annual Percentage Yield (APY)
None
Minimum Deposit Amount
None
Fees
$3.99 to $6.99 monthly service fee
GoHenry Card
3.5/5
A five pointed star
A five pointed star
A five pointed star
A five pointed star
A five pointed star
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
None
Fees
$3.99 to $6.99 monthly service fee
GoHenry Card
Details
Fees
$3.99 to $6.99 monthly service fee
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
None
Pros & Cons
Chevron icon
It indicates an expandable section or menu, or sometimes previous / next navigation options.
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
In-app lessons to teach children how to save
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Can assign chores
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Can set up a weekly allowance
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Can give to charity
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Save for individual goals
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Parental monitoring features to limit spending
Dash icon
A dash. It often indicates an interaction to shrink a section.
Can’t directly deposit cash
Dash icon
A dash. It often indicates an interaction to shrink a section.
Doesn’t have a fee-free ATM network
Dash icon
A dash. It often indicates an interaction to shrink a section.
$1.50 out-of-network ATM fee
Highlights
Chevron icon
It indicates an expandable section or menu, or sometimes previous / next navigation options.
Minors between the ages of 6 and 18 can get a debit card
Subscription plans: First 30 days free; Then $3.99 per month for one child or $6.99 per month for up to 4 children
Link a parent’s bank account to put money onto a GoHenry Card
GoHenry offers a debit card and app that lets both parents and kids manage the card
Debit card is ussed through Community Federal Savings Bank (Member FDIC)
Copper Debit Card
4/5
A five pointed star
A five pointed star
A five pointed star
A five pointed star
A five pointed star
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
None
Fees
No monthly service fees
Copper Debit Card
4/5
A five pointed star
A five pointed star
A five pointed star
A five pointed star
A five pointed star
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
None
Fees
No monthly service fees
Copper Debit Card
Details
Fees
No monthly service fees
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
None
Pros & Cons
Chevron icon
It indicates an expandable section or menu, or sometimes previous / next navigation options.
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
In-app lessons that cover different financial education topics
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
No monthly service fees
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
No overdraft fees
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
No minimum balance requirements
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
No ATM fees
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Save for individual goals
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Access to 55,000 free ATMs
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
May deposit cash
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
2-day early direct deposit into Copper Account
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Parental monitoring features to review teen’s spending
Dash icon
A dash. It often indicates an interaction to shrink a section.
Up to $4.95 in cash reload fees at Green Dot locations
Dash icon
A dash. It often indicates an interaction to shrink a section.
No reimbursements for out-of-network ATMs
Highlights
Chevron icon
It indicates an expandable section or menu, or sometimes previous / next navigation options.
Free ATM withdrawals at over 55,000 Allpoint ATMs
Minors over the age of 13 may get a card
Funds secure in an FDIC-insured bank account
Banking services issued by Evolve Bank & Trust (Member FDIC)
Experts’ Advice on the Best Kids’ Debit Cards
We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best kids’ debit card for your needs.
Here’s what they had to say about kids’ debit cards. (Some text may be lightly edited for clarity.)
Is a kids’ debit card worth it?
Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:
“I think that these are great options to get children to start being a little bit more financially focused. It’s a wonderful way to help them understand how to stick within a budget. That’s actually how my mother taught me how to budget. She would give us a prepaid debit card for Christmas.”
Sophia Acevedo, certified educator in personal finance, banking reporter, Personal Finance Insider:
“Kids’ debit cards can be useful to teach kids about spending. It’s a simple way of teaching them to make financial decisions while still being able to monitor and control their usage. A lot of kids’ debit cards have tools or features that let you set limits or alerts for parents.”
What should I look for in a kids’ debit card?
Mykail James, MBA, CFEI:
“I like the ones that have an app where you can see how much money is in the account.”
Sophia Acevedo, CEPF:
“I would look at any fees needed to maintain the account. You might have to pay a fee for each time you load money into a card or a monthly service fee. Some debit cards also may also have age requirements.”
Methodology: How Did We Choose the Best Kids’ Debit Cards?
We examined over a dozen kids’ debit cards before selecting our favorites. We wanted to provide you with options, so we compared various features and services to find the standouts for each category.
For every debit card, we looked at how it could be used. For example, you should be able to use a debit card for both online purchases and in-store purchases, as well as at ATMs. If a card had a special perk like a budgeting app or parental monitoring features, we took that into consideration, too.
Kids’ debit cards may often have monthly service fees, but we chose ones that are pretty manageable. We looked at charges for signing up for a card, reloading money, or using an ATM, to find options that didn’t charge high fees. If debit cards have tiered-bank account options we compared different price points and features for each plan.
Lastly, we also reviewed each institution’s privacy policy and debit card security features. We took into account whether a card had purchase protection or let parents block purchases. If the debit card was linked to a bank account, we review whether it the bank account was FDIC insured.
Kids’ Debit Cards: Frequently Asked Questions
Kids’ debit cards are tools parents can use to teach children how to use money. With a kid’s debit, children may be able to use an ATM or make debit card purchases under parental supervision. They’ll also be able to set up a budget and monitor through online or mobile banking features.
Yes, several fintech companies and financial institutions offer debit cards for children. If you get a debit card through a fintech company like Greenlight or Step, debit card usage and balance can be monitored through a mobile app. Meanwhile, if you open a bank account at a financial institution, the kid’s debit card is typically be attached to a checking account.
You’ll want to pay attention to potential age limits on the card. Some companies require minors to be a certain age before getting the card.
Some kids’ debit cards may require paying a monthly service fee to use the debit card or have access to certain banking features.
But the following financial institutions and companies won’t charge monthly service fees on kids’ debit cards: JelliCard, Copper, Jassby (Basic Plan free), Chase First Banking, Current, Navy Federal Credit Union Prepaid Go Debit Card (13 or older), and Capital One MONEY Teen Checking (13 or older).
Here are some of the pros to consider when opening kids’ debit cards:
Show your child how to use an ATM or make a debit card purchase under parental supervisionYou can teach your child about spending and how to set up a budgetYou can help your child set personal goals and save for themCards are typically safer than keeping cash on handIt’s easy to qualify for a kid’s debit card
Here are some of the cons to consider when opening kids’ debit cards:
Cards may have monthly service fees, out-of-network ATM fees, or reloading feesYou usually won’t earn interest on your account balance, since kids’ debit cards aren’t linked to a savings accountIt may a big responsibility for your child
Many kid’s debit cards are available online or through a mobile app. Typically, the parent will need to sign up their child for the card and link an external bank account or debit card. If you’d like to open a teen checking account with a debit card, you can open an account through your bank’s website or at a local branch.
Our top debit cards picks for kids
Famzoo Prepaid Debit Card
BusyKid Spend Card
Chase First Banking Debit Card
GoHenry Card
Copper Debit Card
Chevron icon
It indicates an expandable section or menu, or sometimes previous / next navigation options.
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It indicates an expandable section or menu, or sometimes previous / next navigation options.
Best debit card for strong parental monitoring features
Best debit card for a traditional banking experience
Best debit card for financial literacy education
Best debit cards for teens
Learn more
On JPMorgan Chase Bank’s site. JPMorgan Chase Bank, FDIC Insured
Best Kids’ Debit Card Overall
Famzoo Prepaid Debit Card
Monthly service fee: $5.99 monthly, $25.99 for six months, $39.99 for 12 months, OR $59.99 for 24 months
Why it stands out: The FamZoo debit card is a good option for families with more than one child, and it made Insider’s list of the best prepaid debit cards. You can get up to four free debit cards with one subscription. At other institutions, you may have to get individual plans for each child.
It also may be worthwhile if you’re looking for a debit card that’s easy to use. Access FamZoo through your computer, Famzoo’s mobile app, or even via text message, so your child doesn’t need a smartphone to use and manage the card.
You also don’t need to link a bank account, which may be a requirement at other companies. Instead, FamZoo allows you to load cash onto your card at Green Dot locations. However, you may be charged a fee by participating retailers.
Look out for: FamZoo has multiple plan options, but the most affordable is the 2-year plan. You’ll prepay $59.99 for two years ($2.50 per month), which is a lower fee than with some of our other options. If you need more than four debit cards, there’s also a one-time $3 fee for each additional card.
Best Kids’ Debit Card for Strong Parental Monitoring Features
BusyKid Spend Card
Monthly service fee: $3.99 monthly OR $38.99 annually
Why it stands out: BusyKid offers kids’ debit cards for children between the ages of 5 and 17. Parents and kids will manage the card through the company’s mobile app.
The BusyKid Spend Card has a lot of options for kids to take make financial decisions, but parents have to weigh in on the decision first.
For example, children will need to get approval before making a debit card purchase or donating to participating charities. Parents also have the option to lock money transfers between savings and spending categories to limit spending.
Look out for: To put money into the debit card, you’ll need to link an external bank account, debit card, or credit card. You won’t be able to deposit cash onto the BusyKid Spend card.
Best Kids’ Debit Card for Traditional Banking
Chase First Banking℠ Account
Monthly service fee: None
Why it stands out: If you’re looking for a traditional brick-and-mortar bank experience, Chase is an excellent choice. Chase has the biggest branch network in the US — it has over 4,800 locations in 48 states. You’ll have access to over 16,000 free ATMs.
Chase First Banking has a debit card attached to a bank account. There are zero monthly services and zero overdraft fees. The debit card also has strong features that make it easy to use. Parents may set limits or alerts on how much a child can spend or withdraw, and kids have savings and spending tools to set individual goals.
Look out for: To open Chase First Banking, parents must already have a Chase checking account. The bank also charges out-of-network ATM fees if you don’t use a Chase ATM.
Best Kids’ Debit Card for Financial Literacy Education
GoHenry Card
Monthly service fee: First 30 days free, then $3.99 monthly per child to $6.99 monthly for the Family Plan
Why it stands out: The GoHenry Card can be used by kids between the ages of 6 and 18. You might like GoHenry if you’re looking for strong financial literary features for children.
The mobile app has a unique feature called Money Missions, which teaches kids about different topics in personal finance, like budgeting and investing. Lessons are also age-specific, so young children may learn about money basics, while older kids pick up more nuanced money topics like investing in stocks or borrowing responsibly.
Look out for: To put money onto the GoHenry debit card, you’ll need to link an external bank account or debit card. You won’t be able to deposit cash onto the GoHenry debit card. If you use a GoHenry debit card at an ATM, you’ll be charged a fee by GoHenry.
Best Kids’ Debit Card for Teens
Copper Debit Card
Monthly service fee: None
Why it stands out: With the Copper Debit Card, you won’t need to worry about monthly service fees, overdraft fees, or minimum balance fees. Up to $250,000 is secure in your Copper Account through the platform’s partner, Evolve Bank & Trust.
Copper is part of the Allpoint ATM network, where you’ll have access to over 55,000 surcharge-free ATMs. Copper also has strong financial literacy resources designed specifically for teens. Teens can learn about everything from mortgages to credit scores through short videos and guides. They can also take quizzes to test their knowledge on different topics. Copper even offers free financial workshops at high schools that may be booked on the platform’s website.
Look out for: To use a Copper Card, your child has to be at least 13 years old. Customer service is also limited to email or in-app support. If strong customer support availability is priority for you, you may one of our other top picks.
Kids’ Debit Cards That Didn’t Make the Cut and Why
Here are some other prepaid debit cards we looked at and our reasoning for not choosing them as our favorites:
Greenlight Prepaid Debit Card: Greenlight has strong monitoring and budgeting features, but you’ll have to pay $4.99, $7.98, or $9.98 per month, depending on which plan you choose. Some of our other top picks have plan with lower monthly service fees and equally impressive perks.Kachinga Prepaid Mastercard: Kachinga is a fintech company that is a national partner of the JumpStart Coalition, a national nonprofit organization that prioritizes financial literacy education for children. You might like this debit card if you’d like a straightforward debit card. The main downside is there’s a $36 annual fee per child. Our top picks may lower fees because the plans are for multiple children or require less upfront.Current Visa Debit Card: Current could be a good option for teens, but our top picks might be more appealing if you’d like to open a debit card for a younger child. While it has unique features, our top pick for teens, Copper, offers more accessibility.Jassby Debit Card: The Jassby Debit Card may be a good option if you’d like to avoid monthly fees; it offers a basic plan that doesn’t have any fees in addition to an Essential Plan ($3.95 per month). But our top picks have stronger budgeting and parental monitoring features. Capital One MONEY Teen Checking Account: Capital One might be ideal if you’d like to apply for a free teen checking account that has a debit card. Our top pick beat Capital One’s account because it has more lenient age limits.Mazoola Debit Card: You might like Mazoola if you’re looking for a debit card that has abundant financial literacy resources. It isn’t one of our favorites because other debit cards offer more stand out budgeting tools and features. Another downside to the debit is that you’ll only get a virtual card, not a physical one.Navy Federal Go Prepaid Debit Card: Navy Federal has prepaid debit cards for anyone 13 years of age or older. For a traditional institution, Chase has more lenient age limits than Navy Federal Credit Union.JelliCard Visa Debit Card: The JelliCard Visa Debit Card may be worthwhile if you’d like to get a debit card that doesn’t charge a monthly service fees. Its budgeting features aren’t as strong as our favorite cards, though.
Are These Companies Trustworthy?
Normally, we compare companies’ Better Business Bureau grades. But not all of our favorite kids’ debit card companies have been graded by the BBB, so we aren’t factoring scores into our trustworthiness review.
Chase is the only institution on our list that has been involved in a recent public controversy.
In 2020, JP Morgan Chase & Co. paid the Department of Justice $920 million when charged with wrongful trading.
JP Morgan Chase & Co. also paid $800,000 in back wages in a settlement in 2020 with the US Department of Labor that accused the company of underpaying women. The US Department of Labor also required the bank to provide a total of $9 million for compensation adjustments over five years.
Sophia Acevedo is a banking reporter at Insider. She covers bank reviews, banking guides, and banking and savings articles for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF).
Sophia joined Insider in July 2021 and is an alumna of California State University Fullerton where she studied journalism and minored in political science. She is based in Los Angeles.
You can reach out to her on Twitter at @sophieacvdo or email [email protected].
Read more about how Personal Finance Insider chooses, rates, and covers financial products and services>>
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Evelyn He
Compliance Associate
Evelyn He is a compliance associate at Insider who supports the Personal Finance Insider team. Personal Finance Insider is Insider’s personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that Insider readers already know and love.
The compliance team’s mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.
Before joining Insider, she served in various legal and compliance roles in different industries, including the legal and pharmaceutical industries.
Evelyn obtained her M.S. degree in Marketing at Boston University in 2022. Prior to combining and consolidating her knowledge of law and business, she spent one year finishing 1L courses at Suffolk University Law School to further her legal knowledge. She has also completed MBA business law courses while working on her Bachelor of Business Administration in Management at the University of Massachusetts, Amherst.
Outside of work, she enjoys spending time with her 14-year-old Shih Tzu named Money, and her 4-year-old Bichon named Tibber.
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Kids Debit Cards
Personal Finance Insider
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