I would like to give my daughter access to my checking account via a debit card. I do not want to do a pre-paid card as I want to use this as a test to see how she can handle money and balance a checking account. Will my bank give me an extra debit card for her without opening a joint account?
Richard: Yes but do not do that. You will be unaware of what debits are being charged and could overdraft the account. Open a custodial account for her with her own debit card. Do not permit her to drain you dry
This does not teach her responsibility – it teaches her daddy's money is free for the taking.
Get her a joint account and transfer in there what you feel like giving her. If she runs out, that's her problem. That teaches responsibility – having unlimited access to daddy's line of credit does not.
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