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Best Teen Checking Accounts of 2024

Review Updated
David Chang, ChFC®, CLU®
Author: David Chang, ChFC®, CLU®
David Chang, ChFC®, CLU®
David Chang, ChFC®, CLU®
Writer, Consultant

David S. Chang, ChFC®, CLU® is an award-winning entrepreneur, keynote speaker, author, and consultant. He has over two decades of experience in the wealth management space and has been featured in dozens of news, radio, and podcast programs nationwide. He currently works as Head of IoT for the West Region of a Fortune 200 company. He is a graduate of the United States Military Academy at West Point and currently a Lieutenant Colonel in the California Army National Guard. He is an East-West Graduate Degree Fellow and has an MBA from the UCLA Anderson School of Management.

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Robin Hartill, CFP
Reviewer: Robin Hartill, CFP
Robin Hartill, CFP
Robin Hartill, CFP
Writer

Robin Hartill, CFP®, is Motley Fool Money’s Head of Product Ratings and has worked for The Motley Fool since 2020. Her work has appeared in various national publications, including NerdWallet and CNET Money. She previously wrote The Penny Hoarder’s syndicated “Dear Penny” personal finance advice column. She is based in St. Petersburg, Florida.

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Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
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Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

The best checking accounts for young adults make it easy for them to access their money, while offering a wide range of benefits for teens, low fees, and FDIC insurance.

Here are our top picks of teen checking accounts based on the methodology below.

  • Our team of experts assessed 100+ banking institutions
  • We evaluate all banking institutions across the same 4 key criteria: annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks
  • Our bank ratings are never influenced by our advertising partners
  • We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased
  • Best overall checking account for teens: SoFi Checking and Savings (member FDIC). Not only does this savings account offer a strong APY, but the linked checking account earns an above-average rate, too -- which is a rare perk. Plus, there's the opportunity for an up to $300 bonus¹ and a long list of extra account features
SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

More details on our best teen bank accounts

Ratings Methodology
Rates as of Dec 20, 2024

SoFi Checking and Savings

Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

offer alert
Cash bonus up to $300 with direct deposit set up (see details when you click 'Open Account')
APY
0.50% Rate info Circle with letter I in it. You can earn the maximum savings APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. To Earn APY
$0
  • Competitive APY
  • FDIC insured (up to $2M with opt-in to SoFi Insured Deposit Program)⁴
  • Welcome bonus up to $300¹
  • No monthly service or overdraft fees³
  • Early access to direct deposits⁶
  • Savings and investing tools
  • Wide range of financial products
  • Cash back on debit card purchases at select retailers
  • Combo account only; no stand-alone savings or checking
  • Overdraft protection⁷ tied to monthly deposit minimum
  • No local branches or in-person support

With no fees or minimums and tools designed to maximize your savings, the combo account is a good fit for individuals who want to do most of their banking in one place online. The account offers flexibility to access or move funds, especially if your employer's payroll system allows you to access the bank's early direct deposit benefit.



SoFi disclosure:

¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.

SoFi members with Direct Deposit can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

² SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

⁴ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional

FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms

See list of participating banks at SoFi.com/banking/fdic/receivingbanks

⁵ We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

⁶ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

⁷ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the“30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

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Ally Spending Account

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Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
up to 0.25%
Min. To Earn APY
$1
  • Strong online and mobile tools
  • No monthly maintenance or overdraft fees
  • Monthly ATM fee reimbursements
  • Competitive APY
  • Early direct deposit
  • Higher APY available at other financial institutions
  • No physical locations
  • No cash deposits

The Ally Spending Account is an appealing option for those who are comfortable managing their money online. Its monthly ATM fee reimbursements give you the freedom to access your cash wherever you need to. That, plus its APY, means you should only make money with this account.

Capital One MONEY Teen Checking Account

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Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
0.10%
Min. To Earn APY
$0
  • No monthly fees or balance requirements
  • Strong mobile app
  • Parent monitoring features
  • Debit card for teens
  • No out-of-network ATM fee reimbursements
  • Can only open an account online
  • Total card purchases and withdrawals are limited to $500 per day
  • No checks

Capital One is a nationwide bank that boasts a top-rated mobile app. Kids as young as 8 can have an account. The account offers a free debit card that can be used at over 70,000 fee-free Capital One, MoneyPass, and Allpoint ATM locations. Both parents and teens have their own mobile app logins as well.

Parents and guardians have access to parental controls to monitor a teen's spending, and they can set up text alerts and email notifications for card transactions and account activity. For those looking for face-to-face interaction, Capital One has physical locations in many states, as well as Capital One Cafes, where students can bank, get a cup of coffee, and get advice from a certified money coach.

Bank of America Advantage SafeBalance Banking

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Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
0%
Min. To Earn APY
N/A
  • The monthly fee is waived for eligible students
  • Easy access to financial centers and ATMs

  • Does not earn interest
  • Monthly service charge
  • Charges a higher than average fee on out-of-network ATM transactions

Bank of America has roughly 3,900 branches and 15,000 fee-free ATM locations across the U.S. The Bank of America Advantage SafeBalance Banking account doesn't charge a monthly maintenance fee for students under 25 who are enrolled in school or an educational or vocational program. The $4.95 monthly maintenance fee is also waived for accountholders younger than 25. Teens 16 and older can open an account and have sole ownership of it.

The account has a relatively low minimum opening deposit of $25. Though it doesn't charge overdraft fees, it also doesn't offer overdraft protection; your transaction will be declined if you have insufficient funds, though you can link up to five eligible back-up accounts to help you avoid declined transactions and overdrawing the account.

Wells Fargo Clear Access Banking

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Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
0%
Min. To Earn APY
N/A
  • Large network of physical branches and ATMs
  • Highly-rated mobile app
  • Wells Fargo Campus Card for participating colleges
  • Low APY
  • High overdraft and international payments fees
  • High requirements to qualify for waived fees

The Wells Fargo Clear Access Banking Account is open to teens as young as 13. Teens ages 17 and older can open an account without an adult co-owner. The account has a $25 minimum opening deposit, as well as a $5 monthly fee that can be waived if the accountholder is between the ages of 13 and 24 or has a Wells Fargo Campus ATM Card or Campus Debit Card that's linked to the account. Wells Fargo has about 4,600 branches and over 11,000 fee-free ATM locations nationwide, and the Wells Fargo Campus Card Program offers banking services at about two-dozen schools.

Axos Bank First Checking for Teens

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Member FDIC.
Rating image, 4.25 out of 5 stars.
4.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
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Rating image, 4.25 out of 5 stars.
4.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
0.10%
Min. To Earn APY
N/A
  • Earns interest
  • No monthly maintenance or overdraft fees
  • Parent monitoring features
  • Will reimburse up to $12 of ATM fees per month
  • No branch locations
  • Daily limits of $100 for cash withdrawals and $500 for point-of-sale transactions

Axos Bank First Checking for Teens is a joint account for parents and teens ages 13 to 17 (or 18 in Alabama). The account requires a minimum opening deposit of $50, which is somewhat higher than many of the best teen checking accounts. However, one big perk is that it charges zero monthly maintenance or overdraft fees and will even reimburse up to $12 worth of ATM fees each month.

The account offers several features to help parents monitor their teens’ spending, including the ability to sync accounts into a single dashboard and lock and unlock the teen’s debit card. Because it’s an online bank, Axos doesn’t have brick-and-mortar locations. But for teens who are used to doing practically everything on their mobile phones, a lack of physical branches may not be a big concern.

Chase Bank High School Checking℠

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Member FDIC.
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
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Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
0.00%
Min. To Earn APY
N/A
  • No monthly service fee
  • No overdraft fees
  • Automatically converts to Chase Total Checking® account when the student turns 19
  • Parent must have a linked Chase account
  • Doesn’t earn interest
  • $3 out-of-network ATM fee

Teens ages 13 to 17 can open the Chase Bank High School Checking℠ account, but only if their parent or guardian has a linked Chase checking account. Once the teen turns 19, the account will automatically convert to a Chase Total Checking® account, though there may be better options, such as the Chase College Checking℠ for those pursuing higher education. Though the account won’t earn interest, it also comes with zero monthly maintenance or overdraft fees.

Copper Banking

Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
APY
0%
Min. To Earn APY
N/A
  • No overdraft fees or minimum requirements
  • Financial education for parents and students
  • Automated allowance and budgeting tools
  • Over 55,000 fee-free ATMs
  • Low APY
  • Must transfer funds digitally to avoid fees
  • No physical branches
  • Monthly subscription fee

Copper is an app that was founded to "create the first financially successful generation by giving them the tools and resources to take control of their financial futures." With the Copper debit card and app, teens can easily set goals and learn to save. Parents can track spending in real time and send money in seconds. While there are no minimum balance requirements or overdraft fees, Copper charges a monthly subscription fee. Plans start at $4.95 per month.

What is a teen bank account?

A teen checking account is a bank account specifically designed for teenagers, typically between the ages of 13 and 17. Wells Fargo lets people as young as 8 open an account. For teens under 18, most financial institutions require a parent, guardian, or custodian to be a co-owner. Depending on the bank, after the teen hits the age of 18 to 26, most banks will convert the account to a regular checking account.

Teens can deposit cash, pay their bills, and earn interest with a teen checking account. They can write checks, use a debit card, and withdraw money from an ATM. This firsthand educational experience can help teens better understand how to manage money.

Most banks now allow teens to access their funds online or through a mobile app. Teens and their co-owner can choose to open a teen checking account at an online-only bank or a brick-and-mortar bank.

What should I look for in a bank account for teens?

A teen checking account may be the first taste of money management your child gets. A teen may use this account on a daily basis so you want it to be accessible and easy to use. Here are other factors to take into consideration to find the best checking account for your teen.

Low fees

Teens are likely to be on a tight budget. With the average checking account fee of $10 to $15 at brick-and-mortar banks, a teen's hard-earned money may not go very far if the account fees are high.

The best checking account for teens charges $0 or otherwise very low fees. This should be one of the most important factors to consider when choosing a teen checking account. Like a regular checking account, you should look into overdraft protection, returned item fees, and paper statement fees.

Minimum requirements

Some banks require minimum deposits to qualify for a free account. Teens who don't meet the minimum deposit or balance requirements often have to pay monthly service fees. You should find a bank that has no minimum requirement or a very low one.

Parental or guardian controls

Since banks require a parent or guardian to be a co-owner, it is important that the bank offer features that enable the level of control you want. The best checking account for teens offers ways for parents or guardians to monitor how their teen is managing their money.

Digital banking experience

Financial institutions are investing more in their digital banking systems. This is the only way to access a young adult checking account and check the account balance if they use an online-only bank.

You should look for a bank that offers robust, easy-to-use digital tools, and has a highly rated mobile app. You can check the reviews in your mobile device's app store.

Good customer service

Since online-only banks do not have any branches, if a teen or a co-owner has any issues, they can only contact the bank through online chat, email, or phone support. It is important to find a bank that offers easily accessible service. If you still prefer face-to-face customer service, you may want a bank with physical branches.

Nationwide availability (physical locations or mobile access)

Online banks tend to have lower fees, but physical banks let you speak with a banking professional. Having the ability to easily access your teen's checking account is very important. Look for a bank with convenient digital access or a bank or credit union location near you.

ATM network or generous ATM-fee reimbursement program

If you are using an online-only bank, look for a large number of ATMs that you can withdraw cash from without a fee. Some banks have a limited number of fee-free ATMs and charge a fee when you withdraw cash from an out-of-network ATM. Some banks may not have a large network of ATMs, but offer generous ATM fee reimbursements.

Our checking account methodology

At Motley Fool Money, we rate checking accounts on a five-star scale (1 = poor, 5 = best). We evaluate all checking accounts across four main criteria: brand and reputation, APY and rewards, fees and minimum requirements, and perks.

Our scores are weighted as:

  • Brand and reputation: 40%
  • APY and rewards: 30%
  • Fees and minimums: 15%
  • Other perks: 15%

Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering standout features. Learn more about how Motley Fool Money rates bank accounts.

Banks we monitor

  • Alliant, Ally, All America Bank, American First Credit Union, American Express National Bank, Arvest Bank, Aspiration, Axos Bank, B2 Bank, Bank of America, Bank5 Connect, Bank7, Barclays, Bask Bank, Betterment, Bluevine, BMO Bank, Bread Financial, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIT, Citibank, Citizens, Citizens Savings Bank, Columbia Bank, Connexus Credit Union, Consumers Credit Union, Copper, Cross River Bank, Customers Bank, Discover® Bank, E*TRADEEdward Jones, EverBank, Fidelity, Fifth Third Bank, First Foundation Bank, First Internet Bank of Indiana, First National Bank, First Tech Federal Credit Union, Flushing Bank, Freedom Bank, Generations Bank, GN Bank, Golden 1 Credit Union, Greenlight, Harborstone Credit Union, HSBC, Huntington Bank, Ivella, Kabbage by American Express, KeyBank, Laurel Road, LendingClub, Liberty Bank, Liberty Federal Credit Union, Marcus by Goldman Sachs, Mercury, Municipal Credit Union, Mutual of Omaha, NASA Federal Credit Union, Nationwide Bank, Navy Federal Credit Union, NBKC Bank, New York Community Bank, Northpointe Bank, Novo, OceanFirst Bank, Old National Bank, ONE Finance, OneUnited Bank, Oxygen, Pacific Western Bank, PNC Bank, Ponce Bank, Popular Direct, Presidential Bank, Prime Alliance Bank, Quontic, Radius, Raisin, Redneck Bank, Regions Bank, Relay, Republic Bank of Chicago, Revolut, Salem Five Bank, Sallie Mae, Santander Bank, SchoolsFirst Federal Credit Union, Simple, SoFi®, Synchrony Bank, TAB Bank, TD Bank, Third Federal, Truist Bank, U.S. Bank, UFB, Upgrade, USAA, Valley Bank, Vanguard, Varo Bank, Vio Bank, Wealthfront, Wells Fargo, Western Alliance Bank, and Zeta.

FAQs

  • The short answer is "it depends." Different banks have different procedures, but most banks require an adult co-owner if the primary account owner is a minor. However, some allow for sole ownership as early as age 16. Some banks allow teen accounts to be opened online, while others require teens and their co-owners to come into a branch.

  • Teen checking accounts come with debit cards. Banks have age restrictions for when a teen becomes eligible for a debit card. A teen can typically get a debit card at 13 years old when a parent or guardian opens a teen checking joint account on their behalf.

  • A 15-year-old usually won't be able to open a bank account on their own, so they'll probably need a parent or guardian to serve as co-owner. You could open a checking account designed specifically for teens that offer built-in parental controls, or you could open a regular joint bank account at a financial institution that allows a minor to be co-owner.