Any child 8+ will be able to receive a bank account. With the opening of an account, the child will setup their online portal access, and will download the banking app. They will learn to budget, and how to spend money. They will see firsthand the consequences of spending money, and living beyond their means. I will also have viewing access of their account. I can see how much, and where they are spending their money at. The bank will also issue a Discover Debit Card which will have all of their debit card information on the back of the card. The card will also support an EMV chip, and NFC for contactless payments.
The child will not receive checks. However, for capabilities, this could be thought as a checking account. Money Market Accounts, and Savings Accounts have a limit of 6 withdraws per month, and therefore will be too restrictive as a primary account. Since their card is a debit card, and not a credit card, any transactions made with the Discover card will come directly out of their checking account. If they do not have the money to pay for whatever they wish to pay for, they will be declined which might be an embarrassment for the child. However, a decline is better than a $40 over draft fee.
Once the child leaves my care, they will be able to keep the account, and debit card. However, I will need to work with the new guardian on transferring primary control over to them rather than me having primary control over the account. I will only hope that the new guardian will support the personal finance teaching that I gave to the child.