10 Best Debit Cards for Students in the Philippines 2024 | BPI, RCBC, and More

It can be a bit daunting to let your pre-teens or teens manage their own finances for the first time. Ease your worries by applying a BPI Jumpstart savings account for them. It comes with a debit card as well as features that help protect your child’s savings and make sure that their account is always funded.

With the Guaranteed Savings feature, you can set a minimum amount that the account should have to prevent unplanned withdrawals and going under the maintaining balance. You can also schedule when you want to automatically transfer allowances to your child’s account with the Allowance Transfer Facility feature.

Saving and spending responsibly are useful life skills that children and teenagers must learn, even at a young age. Equip your children with financial know-how by opening them with a savings account that can cater to their needs, just like RCBC’s GoSavers account. For only Php 100 and no required ADB, your child can manage their allowances and experience the advantages of using an ATM card. 

The MYDebit ATM card enables cashless and online shopping in various establishments both here and abroad through Mastercard. It also has enhanced security to protect your child’s funds and transactions and provides them 24/7 access to their account.

Opening a savings account for your kids or teens has never been easier with Sterling Bank’s Neo Savings! Because it requires a low opening balance requirement, they can start saving with any amount they have from allowances, gifts, or extra money from summer jobs. Gradually, this can earn interest and grow.

To easily monitor transaction histories and current account balances, the account also comes with a specially designed passbook and a Visa debit card. These will keep you and your kids up-to-date on the progress of their savings and know when they have enough to buy some of the things they want.

The PNB MyFirst Savings Account is for parents or legal guardians of children aged below 7 years old and students aged 7 to 19 years old. You can choose to get either the PNB-PAL Mabuhay Miles Debit Mastercard or PNB Passbook to access the account and manage transactions. For more perks and added convenience, we recommend you choose the debit card.

Aside from easier withdrawals and payments, the debit card enables you to earn points that can be redeemed for Mabuhay Miles when you shop at select merchant categories. In turn, you can use your Miles to book Philippine Airlines (PAL) flights and enjoy other benefits such as flight upgrades, extra baggage, and travel insurance.

The next item on our list is ideal for college students or those who are more than 18 years old and can apply for their own accounts yet still have limited sources of funds for the time being. With UnionBank’s Personal Savings Account, you can enjoy the features of a Visa EMV debit card without having to worry about maintaining a certain amount in your account.

You can use your debit card to transact at UnionBank and Bancnet ATMs nationwide and purchase at Visa establishments worldwide. UnionBank has also waived the Personal Savings annual fee of Php 350 for the first year!

Help your kids and teens not only save but grow their money by opening them a Junior One account at Security Bank for as low as Php 100. This already comes with an Everyday Debit Mastercard and/or a passbook that can help them effectively manage and track their expenses and enjoy rewards from Security Bank partner merchants. 

Junior One also offers higher interest rates compared to regular savings accounts, enabling you to give your kids a head start on saving. Take note that for children six years old and below, the account will be opened as an In-Trust-For (ITF) account.

High school is the time when most kids are given their first taste of financial independence by their parents. With their own allowances to spend for necessities, this is a golden opportunity to teach your children good spending habits and help them build their savings by enrolling them in a BDO Power Teens Club account.

The Power Teens Club is a type of Peso Savings Account that is designated for teens aged 13 to 19 years old. It comes with a BDO Debit Card that they can use to purchase from their favorite establishments as well as manage and access their account anytime.

The Metrobank Spark Savings Account is what all young savers need to take charge of their finances and control how their savings grow. First of all, it requires no initial deposit and only a minimal maintaining balance of Php 500 that you can build within one year from the date of account opening. Your money can also earn interest over time.

It comes with a debit card as well, which enables more secure and convenient transactions. What’s even better is when the depositor turns 22 years old, their Sparks Savings account will be converted to a Regular Savings with Debit Card so they can continue saving with Metrobank.

Empower your teens with the freedom to handle their own finances by applying them for a PSBank Teen Savings account. With no initial deposit or maintaining balance, they can grow their savings at their own pace. Funds are also easy to access by requesting a PSBank Debit Mastercard and Passbook, while transactions can be monitored anytime by enrolling in the bank’s electronic banking facilities.

On top of the security and stability of banking with PSBank, this savings account also comes with free personal accident insurance from AXA Philippines, which is equivalent to five times the monthly ADB. Insurance can be claimed as long as the account is active and has a monthly ADB of at least Php 1000 during the time of accident.

Just like what its name suggests, Robinsons Bank Simplé Savings is the fastest, easiest, and simplest way to open a savings account. You just have to download the RBank Sign-Up app, where you’ll send in your selfie and a photo of your valid ID, fill out the form and verify your mobile number to experience hassle-free banking.

It comes with a virtual and physical debit card, which you can request for Php 150, and use to shop and transact online. Moreover, no maintaining balance is required for this account, and you only need Php 500 in funds to earn interest. Take note, however, that the maximum account balance is only Php 45,000.