Step Card Review

Personal finance literacy is something you should learn from a young age. Today, parents are offered a lot of solutions to teach their children how to spend money wisely and how to save effectively. One of such products is Step Card and we are about to review the company and what it offers.

What is Step Card

Step is a banking app that goes with a card to deposit money, keep track of spending, and send money to friends and family. The aim of the product is to help people under 18 get access to cashless transactions and at the same way, to learn financial literacy. This, for example, allows teens to get money for some small job they do.

The Step founder CJ MacDonald said, “We want it to be a teen’s first bank account. We want to be a teen’s first spending card.”

The Step card is a card that allows spending only the money you deposit. It was created mainly for teens to have a bank account that they can manage with the Step app. The parents need to put money on the card and a teen can spend their money with Step Card. Also, as it’s not a credit card, there is no way for a teen to overspend

The company provides services through their banking partner Evolve Bank; it means you’re FDIC-insured up to $250,000. The account can be opened for US residents only but the card can be used worldwide.

By using Step Card, clients can build a positive credit history from their early years. 

Be aware that their official website is There is also a website which seems to be a scam.

How Step card works

In the United States, a person needs to be over 18 to open a US bank account and use payment systems like Paypal. Step card allows people under 18 to use banking services. So, a person under 18 can receive and send money as well as spend them with a Step card. 

But an adult, a parent or guardian, is required to open an account and send money there first. This adult will have their own Step account and have some visibility into the account of a teen. The company works similarly to Greenlight, another banking product for teens.

So, how to get started with Step?

If you’re 18+, download the Step app and sign up as an adult. Then invite your child to download the app and create their own account. If you’re under 18, ask an adult to sign up and send you the invitation.

You create a Step Account and then instantly receive a Virtual Step Card. This card can be used online or for offline purchases if you add it to your mobile wallet. To get a physical card, you need to order it and it arrives within 14-21 business days.

To add money to your account, link it with a debit card, bank account, or external app like Venmo. Alternatively, you can ask someone to send you money via Step.

You can withdraw money using an ATM but you can’t add money to your account through ATMs.

You can also add your Step Card to Apple Pay or Google Pay to use it without a physical card.

Step Card Limits

The card has the following limits:

  • You cannot spend more than you have on your Step account
  • You can have up to $10,000 in your Step account
  • You can add up to $500 to your Step account using your debit card within 24 hours
  • There’s a $1,000 daily limit on purchases with your Step Card
  • There’s a $500 daily limit for Google Pay & Apple Pay transactions.
  • You can withdraw up to $250 from Step to your linked bank account within 24 hours
  • You can withdraw up to $250 from an ATM within 24 hours, and up to $1,000 within 30 days
  • You can make up to 10 ATM withdrawals in a 30 day period

Step Card Pricing

The card as well as the app is completely free to use. There are no fees or a minimum deposit.

How does the company make money when offering a free product?

It makes money from ‘interchange’ fees paid by the merchant bank. When a person uses a Step Card, card networks collect a service fee which is like a tax, and Step gets a percentage of that fee. 

Step Card & App Review

The majority of reviews are positive ones. They say that the product is great and helps both teens and their parents.

However, there are a number of complaints about sudden restrictions when users can’t get back into their account which means they cannot access their money on Step. The customer support says this is how their fraud protection system works: it identified some users as suspicious and frozen their accounts.

Thus, we don’t recommend putting a lot of money there.


Is Step card trustworthy?

Yes, Step is safe. Its services are provided in conjunction with Evolve Bank & Trust, which is insured by the FDIC for up to $250,000. This protection covers Step users. Additionally, the Step card is provided by Visa, which comes with a Zero Liability Policy.

How to add money to a Step card?

To add money, use your debit card, bank account, or external app. Alternatively, someone can send you money via Step.

How old do you have to be to get a Step card?

There is no age limitation but if you’re under 18, you’ll need a parent or guardian to open the account.

What bank is the Step card?

The company provides banking services through Evolve Bank, Member FDIC.

How long does a Step card take to arrive?

You can expect the Step card to arrive within 14-21 business days; sometimes it arrives sooner.

How to activate my Step card?

Just send money to the card and it’s activated.

How to cancel a Step card?

To cancel your Step card, you need to contact support.

Final Thoughts

The Step card is a good solution for young people under 18 to pay cashless and be able to send and receive money. One of its main benefits is that it’s completely free. Moreover, the company partners with Evolve Bank which means your account is insured. All this means it’s a good product to try.

David L.
David L.

David is an advocate of financial literacy. Having previously worked as a financial advisor and being a father of two daughters, he wants to show solutions to improve financial behavior.

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