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The best teen checking accounts for January 2025

Compare the fees & features of teen checking accounts & find the best for you.

Best for savings rounds-ups

Current teen banking

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on Current's secure site
  • $0 monthly fee
  • Automatic savings round-ups
  • Spending limits and parent notifications
  • Instant transfers to your child
  • Parent Current account required

Earn and redeem rewards points

Jassby

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  • Free 30-day trial, then $5.95/month
  • Earn redeemable rewards points
  • Quizzes, videos and games teach kids about money

Compare teen checking accounts

Sort the table by APY, fees, minimum deposit, ATMs and more to find a checking account.
Product USFSA-CHK
Finder Score
Fee
Minimum deposit to open
Annual Percentage Yield (APY)
Offer
Finder score
$0 per month
$0
N/A
Finder score
$5.95 per month
(can be waived)
$0
N/A
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What is the Finder Score?

The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.

To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.

Read the full Finder Score breakdown

WATCH: Best checking accounts for teens

How to find the best teen checking account

Most teen checking accounts come with mobile and online banking. But you’ll also want to evaluate these features when shopping around for the best account:

  • Low fees. The best teen checking accounts don’t have any monthly fees. But you’ll also want to consider how much you could pay for overdrafts, non-network ATM withdrawals and foreign transactions if you’re traveling abroad with family or on a school trip.
  • ATM access. If you go with a local bank or credit union, there will most likely be ATMs in your area. But if you choose an online bank, make sure there are in-network ATMs nearby, so you don’t get dinged for withdrawing cash. Some online banks even offer ATM refunds if you use non-network machines.
  • Budgeting tools. The purpose of a teen checking account is to help you develop good money management habits. Look for an account that has budgeting tools that help you save and spend wisely.
  • Parental controls. Some teen checking accounts come with one debit card for your kid, while others may come with two debit cards for each of you. Parental controls will also vary depending on which bank or credit union you choose. Think about how involved you want to be with your teen’s checking account, then find one that has the tools you need.

Teen checking account alternatives

If you’re thinking a teen checking account isn’t right for you, the main alternative is a prepaid card. A prepaid card lets you load money onto your card ahead of time, and it stops working when it runs out of money. It’s like a gift card, but it works everywhere credit cards are accepted. It can be a great way to stick to your budget, but prepaid cards often have more fees than teen checking accounts, so that’s something to keep in mind.

How to teach your teen how to manage a checking account

Teach your teen how to manage their checking account by showing them how to monitor their balance, avoid overdrafts and spot any fraudulent activity. You can also teach them how to use checkout at the store using their debit card and PIN, as well as how to write checks and deposit them in the bank’s mobile app.

Online banking for teens

The internet makes banking easy by providing ways to view your account activity and manage your finances online or from an app on your phone. Some banks may have limited online features for minors or require a parent’s permission to bank online — check with the financial institution you’re interested in before signing up.

Security is an important feature to consider when banking online. Never share your bank password with your friends or post it online. For added protection you could also ask for a two-factor authentication, where a special code is texted to your smartphone every time you login to your online banking platform.

Starting your financial journey as a teen

A checking account isn’t much use if you don’t have any money in it. Finding a job is one way to gain financial independence and begin saving for your first car or other major expense.

Start by considering what skills you possess that an employer would consider beneficial, and then build a resume that emphasizes those as well as your positive experiences in school. If you get an interview, dress and act professionally. If it’s your first interview, practicing with a friend or parent first can help you stay cool and collected.

What is a teen checking account?

Teen checking accounts look and feel like regular checking accounts, but they’re designed for children ages 13 to 17. They often have lower fees than their adult counterparts, with many banks offering accounts with no ongoing monthly fees at all.

Another perk of teen checking accounts is that they come with a linked debit card, so you can make purchases online and in-person. Plus, you can withdraw money from an ATM.

But you’ll need a parent or legal guardian as a joint account owner, and depending on the bank they may be able to track your purchases and withdrawals online.

Explore how it works: Josh’s first job

joshJosh was able to get a part-time job after his 16th birthday at a local grocery store, stocking shelves. He opened a checking account using his birth certificate and student ID so that his paychecks could be automatically deposited.

With automatic deposits, Josh doesn’t have to take his check to the bank and then wait for it to clear each week. And because the account includes a linked debit card, he’s able to withdraw that money immediately for cash in his pocket and automatically transfer a portion into his savings toward the goal of buying his first car.

How do teens save money with a bank account?

Teens are eligible to open savings accounts at most banks, even linking a savings account to a checking account to easily transfer money. The balance in a savings account gains interest over time — so the longer you go without touching it, the faster you can grow your nest egg.

Come up with a savings plan

A savings plan is among the easiest ways to reach a goal — like Josh’s first car.

Start by estimating how much you need to save and for how long. Then decide how much of your weekly earnings you can afford to stow away into a savings account. Most banks let you set up automatic transfers from your checking to your savings account to help you stick to your plan.

When creating your budget, look for ways to spend less on daily expenses. Brown bag your lunch for school or split the cost of renting a movie with a few friends instead of going to a theater. Review your transaction history for the past several weeks to learn where your money is going — and find more ways to save.

Bottom line

The best teen checking accounts offer a secure way to stash your funds while giving you access to it when needed. But if you’re under 18, you’ll need an adult to be a joint account owner.

When you’re ready, compare checking accounts to find the best fit with your budget and financial goals.

Frequently asked questions

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