Updated May 4, 2023

Copper Review

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Copper Banking is a financial education platform to teach kids and teens financial literacy. Discover its features, pros, and cons in this review.

5-point scale (the higher, the better)

Pros and Cons

  • No minimum deposit required
  • Earn rewards with quizzes
  • Limited customer service

Bottom Line

Teaches kids and teens responsible saving, spending, and investing

Copper Banking is a financial education platform designed for kids, teens, and parents.

Copper gives kids and teens firsthand experience in earning and learning money.

But is Copper Banking the safest and best financial app option available for your teenager?

Find out below.

What is Copper Banking

Based in Seattle, WA, Copper began with $4.3 million in seed funding from PSL Ventures, Western Technology Investment, Mana Ventures, and Snap creator Jack Brody.

It was created in 2019 by co-founders Eddie Behringer and Stefan Berglund. The pair saw an opportunity where traditional education systems fail many teens — financial literacy, smart spending, and budgeting for the future.

Copper is a financial technology company that partners with banks and credit unions. It is not a bank itself.

The app uses behavioral psychology to help teens build smart financial habits, like saving, and incentivizes them to learn about how banks and money function.

For example, once you download and open the app, you can take a short quiz about checking accounts. Once completed, you receive a $2.00 reward.

Do people recommend Copper banking?
Copper enjoys high ratings on both the Apple App Store (4.9 stars) and Google Play Store (4.8 stars) as of this writing.

How Copper Works

Copper's financial education product, Copper Earn, allows users to engage in various activities to earn credits. These activities include playing games, taking surveys, scanning receipts, referring friends, and completing other simple tasks.

Here's a concise breakdown of how Copper Earn works:

Activities to Earn Credits:

  • Playing Games: Users can earn credits by playing specific games provided by Copper.
  • Taking Surveys: Completing surveys contributes to earning credits.
  • Scanning Receipts: Users can scan receipts to accumulate credits.
  • Referring Friends: Inviting friends to join Copper Earn also rewards users with credits.
  • Other Simple Activities: Additional tasks, as specified by Copper, help users earn credits.

Credits to Cash/Gift Cards:

  • Accumulation: Once users have earned 500 Copper credits, they can exchange these credits.
  • Exchange Rate: 500 Copper credits can be converted to $5 in cash or equivalent value in gift cards.

Copper Earn not only provides financial rewards but also encourages active engagement and learning about financial management.

Can I earn rewards with Copper?
Copper offers cash rewards for inviting friends ($5.00 for each referral) and completing quizzes and educational videos.

Copper Features

Copper integrates money management and earning with financial education. Get to know the features of Copper Banking below.

Financial Education
Copper teaches users financial literacy and cash management through quizzes and educational videos that enable them to test their knowledge while learning simultaneously.

Copper Earn
Copper offers members a way to earn and learn about money through its app feature, Copper Earn. This feature provides financial incentives while educating users about the value of money and the concept of earning through various activities.

Copper Customer Support
Email: support@getcopper.com
In-app: under "Support"

How to Open a Copper Account

Teens and kids 6 years old and over are eligible to open a Copper account. However, the account must be activated by a parent or guardian at least 18 years of age, with a valid Social Security number or tax identification number.

Both parties must also be U.S. citizens, permanent residents, or hold valid long-term visas.

Your teen can sign up for a Copper account using the following steps:

  1. Download the Copper app and enter their phone number

  2. Enter the unique verification code

  3. Invite a parent or guardian, who will grant permission

  4. Start using the Copper account.

The Pros and Cons of Copper Banking

Like all banks and credit unions, Copper comes with its own unique set of pros and cons.


  • Financial education via quizzes and short videos

  • Zero fees, no minimum balance requirements and no subscription fees

  • Earn rewards by inviting friends and completing objectives

  • Parental supervision — use the app to monitor and review account activity

Is Copper Free?
Yes. Copper doesn't charge any monthly maintenance or service fees, and there is no minimum deposit required to open an account.


  • Customer service — there are no local branches for in-person support, and there is no publicly listed customer service phone number

How to Contact Customer Service

Teens and parents can contact Copper Banking customer service by emailing support@getcopper.com or within the app under "Support" in the settings menu.

Copper's website also hosts an FAQ page, where you can access answers to common questions regarding security and privacy, adding and transferring funds, managing your account, using the card, and getting started.

You can also reach Copper through in-app chatbot available 24/7. For complex situations, the chatbot will redirect to Customer Support agents.

Competitor Comparison

BankMinimum DepositAPYOut-of-Network ATM FeeDebit CardMonthly FeeTransaction Limits
Step Bank$0N/AN/AYes$0$1,000 debit
$500 Google Pay / Apple Pay
$250 ATM
Axos Bank First Checking$500.1%$0Yes$0$500 debit
$100 ATM

While Axos Bank First Checking offers APY, it has a minimum deposit.

Step, a popular competitor, currently does not allow funding an account through an ATM, although teens can still use their cards to make ATM withdrawals, make online purchases, do POS transactions, and use Google Pay and Apple Pay.

Copper currently doesn't offer debit cards and deposit accounts.

The Bottom Line

Copper offers a competitive suite of features compared to other banking options tailored for teenagers.

The financial literacy education package is a fantastic addition to the world of banking and education for America's youth, whose surveys show have an alarming lack of financial literacy as they graduate from high school.

If you have a teenager who struggles with the concept of money or is simply ready for the adult world of finances, Copper Banking is worth a try.

Step Visa Card for Teens

Step Visa Card for Teens

  • Teens can earn 5.00% on their savings
  • Build credit and develop healthy money habits
  • No monthly fees. No overdraft fees. No account minimum fees.
Step is a financial technology company, not a bank. Banking services provided by Evolve Bank & Trust, Member FDIC. The Step Visa Card is issued by Evolve Bank & Trust.
GoHenry Kids' Debit Card

GoHenry Kids' Debit Card

  • Real-time spend notifications.
  • Block and unblock cards easily.
  • Teach financial independence safely.
GoHenry card is issued by Community Federal Savings Bank, member FDIC

Build Credit While You Bank

  • Get Paid Up to 2 Days Faster
  • Build credit and earn points with every swipe
  • 40,000 fee-free Allpoint ATMs in the U.S.
  • No credit check, minimum balance or hidden fees
Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC, and Cross River Bank, Member FDIC.
FamZoo Prepaid Card for Kids and Teens

FamZoo Prepaid Card for Kids and Teens

  • Order Online
  • No Credit Check
  • Try for Free
Your funds will be held at SouthState Bank, an FDIC-insured institution

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Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.


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