In large part because your child is less likely to lose their card or have it stolen, and if they do, they can protect their money by freezing their account. Giving your child a debit card is also safer than cash for multiple reasons. This means they can buy things online or at cashless retailers without overspending or going into an overdraft. Kids prepaid debit cards, for kids aged six and above, are like regular debit cards, but your child can only spend what they have.
Prepaid debit card for kidsĪ prepaid debit card is one of the safest, most secure alternatives to PayPal for a child. We’ll cover why this is important later in the blog.įor now, here are some alternatives you might be considering – including whether they’re possible PayPal alternatives for kids. Remember that when giving your child any degree of financial freedom, you should educate them on money management. Though you can’t use PayPal under 18, there are several alternatives that children and teens can use to make purchases online, shop at card-only retailers, and manage their money. PayPal for Kids: What Alternatives Are Available
Since they can’t legally be held responsible for violating PayPal’s terms and conditions, the company has established that you can’t have an account on PayPal under 18. This creates liability problems for PayPal.īecause 18 is the legal contract age, children under 18 can’t be held accountable by the contract, effectively making it void. Why Does PayPal Have a Minimum AgeĪfter finding out that you can’t use PayPal under 18, you might be wondering why.Īccepting the terms and conditions of PayPal constitutes a binding legal contract – which anyone under the age of 18 is unable to do legally. However, there are better alternatives to PayPal for children and teens who want to manage their own finances. Having said this, those under the age of 18 can still use the PayPal account of their parents, with permission, when making a purchase online. If PayPal discovers you’re a minor, it will close the account. You can’t legally register for an account on PayPal under 18. You must be 18 to register for a PayPal account. So how old do you have to be to have PayPal, and do you have to be 18 to use PayPal? Do You Have to be 18 to Use PayPal PayPal has several restrictions on who they allow to set up PayPal accounts, including age restrictions on those who open a PayPal account. You might be considering opening a PayPal account, as a child or as a parent for their child, to make online purchases securely, be able to pay cashless without opening a bank account and make and receive payments seamlessly. But how old do you have to be to have PayPal, and can you open an account as a child or teen, or do you have to be 18 to use PayPal? This feature appeals especially to children and teens with small businesses. You can also pay others and receive payments through your PayPal account – more quickly than direct bank transfers, especially for international payments. PayPal has extensive anti-fraud and encryption capabilities to keep financial details from linked bank accounts safe. Then, you can deposit and withdraw funds from your account with the click of a button. your card details – you can use a PayPal account to make secure payments and protect the funds in your bank account.Īll you need to do is connect your bank account to your PayPal. Instead of sharing sensitive financial information online – a.k.a. PayPal is a financial service that allows people to make purchases more securely.
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