Hiya Monika!
Welcome to planDisney!
MagicBands are one of my favorite accessories when visiting Walt Disney World Resort.
While it can do quite a bit as it lets Guests open their Disney Resort Room door, enter the Parks and Lightning Lane entrances, and so much more it does not have any tracking features. If you want to purchase them you will have to evaluate if the cost is worth it for the other features. My kids have been using MagicBands since they were around 5 or so and my kids have only lost one band. (It can be found at the bottom of the
Seven Seas Lagoon. May it Rest in Peace.) I do recommend them for kids if you feel they are responsible and if you are prepared to wear the bands yourself as the kids tire of them. The bands tend to fall off the wrist and I have had success using a hair tie but I have upgraded by purchasing band loops online.
If you are worried about finding your kids if they are lost I have a few tips to help you.
1. Take a picture of your kids every day. You want an updated photo of your kids to show a Cast Member if they end up lost. I suggest dressing them up in bright colors and distinctively so that you can find them in a crowd easily.
2. Teach your kids their phone number or have it placed on their body such as with a permanent marker, temporary tattoo, or a card in their pockets. Make sure they know your real name as well as "Mom" is not going to be specific enough. In addition, you could purchase something like an Apple Air Tag or a Tile that you can affix to your kid's shoes or their clothing which is an actual tracking device.
3. Teach your kids what the Cast Member ID badge looks like and point it out to them. You want to make sure your kids know that if they get lost who they can go to for help.
4. One of the things I teach my kids if they get lost is to stay in place. It gives me time to retrace my steps and find them once I realize they are missing. If a Cast Member is nearby they should head to them and ask for help.
Cast Members are trained very well to assist lost kids and will try to stay with them for a bit until they are walked to a safe place like the
Baby Care Center or Guest Relations. Cast Members will be notified all over the Park to look out for you and if you reach out to a Cast Member quickly they can get you all reunited quickly!
I hope this helps and you have to not use my tips at all.
Happy Planning!
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Nimmy