Starling Bank has launched Kite cards for children aged under 16.  

In Brief:  

• The debit card can be used online, instore and with ATMs.  

• It has a maximum allocation of £5000. 

• Parents can order the card via the app and have spending oversight.  

What does this mean?  

Starling says it wants to help children understand the value of money and gain financial skills. However this will also be part of the new fee structure recently announced by the challenger bank, costing £2 per month.    

Read more here.