In some states, the signing of a credit acknowledgement, (receipt) is a legal and binding document and the required consent to enter such agreement requires the purchaser to be of the age of majority (18). Some banks make exceptions for minors as young as 16 when there is an adult co-signer.
I think you'd have trouble finding a bank willing to give a 10 year old a debit card. Banks, generally, are liable for ALL debits (if VISA/MC debit card) or all but $50 (if not VISA/MC) that the card holder can claim is unauthorized. Since (again, generally) contracts with minors are voidable, banks are reluctant to offer cards to people (kids) who can't be held liable.
As to the "should" part of your question...it's unlikely that someone just three years past the age of reason would know how to use the card responsibly. Give him/her a wad of cash, with explicit restrictions (the same as you would put on the debit card) and see how that works out for you. Yeah, or maybe not.
If you're the parent of this 10 year old, you're not doing him/her any favors by making it easier for them to spend either your money or theirs. Sometimes the best thing a parent can say to a child is "No".
No, a ten yo does not need a debit card unless he's a young Bill Gates or a member of the Rockefeller clan.
A debt card at 10? Only if its a prepaid debit card.
When I was 10, debit cards didn't exist!
For most 10 year olds, no. There are a few rare exceptions running around that know how to manage money well. Those are the ones that look for jobs to do around the neighborhood, and save 95% of the money they make.
no, get them a prepaid visa card from walgreens
It is the exact same thing; except you can overwithdraw and get charged a crapton
I'd let him pay cash for everything.
Let him feel the emotion of the money leaving his pocket.
Did anyone that is 10 get a debit card
