OP Uusimaa On average, children get their first debit card at age 13
Considering the steep decrease in the use of cash, children learn financial skills with coins and banknotes for quite a long time.
70 per cent of OP Uusimaa's child customers get a debit card by the age of 13. According to OP Pohjola's card statistics, the average age by which children get their first debit card is 13.
"It looks like children learn the value of money by using cash during primary school. However, a payment card can well be considered when the child is around 10 years old. Parents assess their child's needs and skills, and decide when they are ready to manage intangible money," says Riikka Kangas, Executive Vice President, Personal Customers at OP Uusimaa.
A child should understand that money is limited, be able to distinguish between needs and wants, and know basic facts about paying while they are in primary school. Children learn these skills best by practicing them in real life.
In many families, children start using a debit card while in primary school. At OP Uusimaa, 56 per cent of children get a debit card during their primary school years.
Cash is becoming increasingly rare, but still lives on as weekly pocket money
Cash withdrawals in euros are now 44 per cent lower compared to 2019. Children today may not see adults making purchases with cash. However, according to a survey by OP Pohjola, children still receive weekly pocket money in cash for a long period of time.
In OP Pohjola's survey from 2024, a suitable weekly pocket money amount for a 10-year-old was found to be around 9 euros.
"Even though cash still holds its ground for children's first financial skills, so to speak, the use of debit cards starts earlier, and the typical age to get a debit card will likely decrease during the years to come. Card payments and an understanding of intangible money are starting to be standard financial skills at an earlier stage during childhood," Kangas says.
To help children understand intangible money, it's a good idea to go through the child's account transactions with them, and ponder together where money is spent and how it can be saved.
"Purchases with weekly pocket money leave a lot of useful knowledge of account transactions for acquiring financial skills. Financial skills can be developed by pausing together to see where the money went," Kangas suggests.
ADDITIONAL INFORMATION:
Debit card for children in primary school
- OP Basic is a safe debit card that simplifies the daily life and hobbies of children in primary school.
- OP's minimum age for the card is 7 years.
- An account's balance cannot be exceeded with OP Basic.
- Banking services are free of charge for children and young people.
- Families should agree at home on the purchases children are allowed to make with their payment card.
- It's also a good idea to emphasise that the card and PIN code are for personal use only.
- A spending limit set for the card protects against accidents and losses, for example.
Financial skills in OP Pohjola's corporate responsibility work
- In 2025, OP Pohjola reached more than 100,000 children and young people through its financial literacy work in cooperation with OP cooperative banks and partners.
- The cornerstone of our work consists of visits by OP cooperative bank representatives to schools and educational institutions all over Finland. Financial Literacy Week is happening at schools from 16 to 20 March.
Financial skills for everyone: op.fi/financial-skills