Step
free teen banking app with credit-building, investing, and crypto
How it works
Step is a free all-in-one money app for teens and young adults that combines a secured Visa card, banking, fractional share investing, and (with Step Black) credit-building. It has no monthly fees, no overdraft fees, and no minimum balance on the free tier. Step Black at $4.99/month (or free with a $500 monthly direct deposit) adds up to 8% cash-back rewards and credit bureau reporting.
Is it right for you?
Consider if you
- Older teens (16+) with jobs who want financial independence
- Young adults wanting to build credit history early via a secured card
- Families who want a genuinely free basic tier with no hidden fees
Skip if you
- Families wanting chore and allowance tracking (not offered)
- Parents who want robust safety features like location tracking or SOS alerts
- Users who need responsive phone-based customer support
Your money and data
Step's Visa cards are issued by Evolve Bank & Trust, Member FDIC. Deposits are FDIC-insured up to $250,000 on standard accounts and up to $1 million on Step Black accounts via partner bank sweep programs. Parents can monitor spending in real time, set spending limits, block specific merchants, and lock or unlock cards from the app.
Pros & Cons
Pros
- Free tier is truly free — no monthly, overdraft, or minimum balance fees
- Credit-building via secured card (Step Black), unique among teen banking apps
- Investing in fractional stocks, ETFs, and crypto starting at $1 commission-free
Cons
- No chore or allowance system at all
- Customer support is in-app chat and email only, no phone support
- BBB complaints about sudden account freezes and poor communication during disputes
Pricing details
Free · Step Black $4.99/month (or free with $500+/month direct deposit)
On step.com · We may earn a commission
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