Any child that is 8 years old or older will be able to acquire a Capital One Teen account. This account will not have checks, but will have a Discover debit card. When the child enters my possession, they will receive an initial amount of money that they can start with. I am sure that their previous place will not have them have any resources to income, and with proper teaching, that will change. The child will be able to receive an income with doing chores, and if old enough, have a part time job. They will learn how to budget, and how to make use of the money they have. When they wish to withdraw money from their account, they will use an ATM that will support the AllPoint Network of ATMs which is free of surcharges. However, I will imagine that most of their transactions can be done with the debit card. I will have monitoring access with the account. This will allow me to teach the child how to use money from their real world experience.
When they child leaves my custody, they will be able to keep the account, but the next guardian will have to work with me to transfer management title with the account. I will hope that the child was in my custody long enough to learn good personal financial management, and they continue with that practice when they leave.