Best Checking Accounts for Teens in 2025
Getting your teen a checking account can be a great way to start teaching them financial responsibility. If you link your account to theirs, you can easily transfer money and since you are also on the account, you’ll have full access to view transactions.
However, checking accounts will have limited parental control. If you want control over where your child spends their money, check out our list of best debit cards for kids.
Best for: Convenience
The Capital One MONEY Teen Checking account is available for kids eight and older when a parent or guardian signs on as the joint account holder.
There is no monthly fee or minimum balance requirements. Kids can use the ATM card for free at any MoneyPass or Allpoint ATMs.
Parents do not have to have an account with Capital One to open this account, and the account can be linked to any outside checking account, which is not the case with most banks. Parents can also see all transactions in the app and can set up notifications if desired. Parents won’t receive a debit card, but can lock and unlock the child’s debit card if needed.
When the child turns 18, the account remains open and the child can open a new standard account and transfer the funds to the new account.
Here’s our full Capital One 360 review for more information.
Best for: Parental controls
Bank of America’s Advantage SafeBalance® for Family Banking checking account has a $25 minimum opening deposit and no monthly fee as long as one owner is under the age of 25.
Parents must have a Bank of America checking account and money can only be deposited by a parent via transfer from another Bank of America account, the ATM, or mobile deposit. Parents can also set spending limits for specific categories.
Kids can spend from the account with their debit card and have a limited/age-appropriate experience with the app.
Member FDIC.
Best for: ATM reimbursements
Axos First Checking has no monthly fees, no overdraft fees, and no minimum balance requirements. Kids can use their debit card at any ATM and will receive up to $12 a month in ATM fee reimbursements.
Kids can spend up to $500 per day on their debit card and withdraw up to $100 daily in cash from the ATM. Parents can view their teens spending from the app and lock and unlock the debit card as needed. Parents can also set up spending notifications to keep tabs on their teen’s activity.
This account is a joint checking account, so both parents and kids are co-owners.
Here’s our full Axos Bank review for more information.
Best for: High interest rate
Alliant Credit Union’s Teen Checking account is available for parents who open their own Alliant Credit Union checking account. There is no monthly fee and no minimum balance requirements. Both kids and parents are owners, and both will receive a debit card that can be used for free at over 80,000 ATMs, plus you’ll receive up to $20 per month in ATM fee reimbursements.
This account earns 0.25% APY as long as you receive electronic statements and have at least one deposit from either direct deposit, an ATM, or another financial institution.
Once your student turns 18, the account will automatically be converted to an Alliant Checking Account, but you will remain a joint owner of the new account unless specifically removed.
Here’s our full Alliant Credit Union review for more information.
Best for: In-person banking
Chase High School Checking is available to the kids of current Chase customers, and the teen account must be linked to the parent’s Chase checking account. There are no monthly fees and no minimum balance requirements.
Parents are co-owners of the account and can receive notifications of account activity, but don’t have any controls over spending.
When the child turns 19, the account will automatically convert to a Chase Total Checking account, with the parent as a co-owner on the new account.
Best for: Use after age 18
Wells Fargo’s Clear Access Banking account is for adults, but teens 13-16 can open the account with an adult as a co-owner. 17-year-olds can open the account as a primary owner. Since this is an account for adults, nothing needs to happen when the child turns 18 — other than to remove the parent co-owner.
There is a $25 minimum deposit to open the account, and the $5 monthly fee is waived when the child is under 25. There are no overdraft fees and no fees at Wells Fargo ATMs.
As far as parental controls are concerned, Wells Fargo offers transaction notifications and the ability to set spending and ATM withdrawal limits.
You might be wondering why opening a checking account for your teen can be a good idea. There are several benefits to doing so.
So many people in the Gen X and Gen Z groups lament their financial mishaps and mistakes. Personal finance just wasn’t taught to kids back then, and in many places it still isn’t taught.
Opening a teen checking account for your child can be a great “first step” in helping them learn good money management skills. They can use the account to manage the allowance they earn, or they can use it to learn how to manage money earned from their first job.
By the time they’re ready to leave the nest, they’ll be set up to have a good handle on money management skills. And that may lead them to start investing as a teenger.
Turning 18 and going off to college is a big step from life at home. Many of today’s kids do minimal work in terms of laundry, cooking, and other responsibilities.
Teaching your child to manage their own money via a checking account is just one more way to usher in responsibility that your child will need to have experience with when they venture out on their own.
Once your child learns to manage their checking account, you can move forward with teaching them other financial insights such as investing, saving for a home, and more.
A checking account can be the first building block in your child’s personal finance repertoire.
When shopping around for a checking account for your teen
Fees: There is no reason for your teen to pay a monthly fee on their checking account. Every account on this list either has no monthly fee or waives the fee while the child is a minor. But watch out for other fees, too. Ensure they have convenient access to free ATMs and understand what happens if the account is overdrafted. Some banks allow those transactions to go through and charge a fee, while others deny all transactions that will put the account into the negative.
Access: Accounts will come with a debit card, but not all have check-writing privileges or wide ATM access. If your child needs Zelle or Bill Pay, double-check that the account has access to those features.
Parental controls: Most checking accounts have limited parental controls outside of receiving notifications. Check out the best kid’s debit cards if you want more control.
Opening a teen checking account can be a great idea if you’re interested in showing your teen how to manage money, set financial goals, and budget.
And there are several great teen checking accounts to choose from to help you meet these goals.
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