Teen checking accounts can be a great way to help your child or teen learn financial literacy. The best checking accounts for teens will avoid common bank fees like overdraft or ATM fees. Some also have offer tools designed to help your child with finances, such as financial literacy lessons and parental control features.
The Best Teen Checking Accounts
- Chase High School Checking: Best brick-and-mortar bank
- Citizens Bank Student Checking: Best brick-and-mortar bank, runner-up
- Capital One MONEY Teen Checking Account: Best online bank
- Axos Bank First Checking: Best online bank, runner-up
- Alliant Teen Checking: Best credit union
- Connexus Credit Union Teen Checking: Best credit union, runner-up
These institutions have stayed as our top picks for the last few months because they continue to stand out for their unique perks and how they avoid bank fees.
All of the financial institutions on our list are protected by FDIC or NCUA insurance. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account.
Below, you'll find our top picks for teen checking accounts.
Compare Top Teen Checking Account Options
no monthly service fee
None
$0
- No minimum opening deposit
- No monthly service fees
- Debit card included
- Budgeting tools and alters to help teens save
- Parental monitoring features to track spending
- Non-US citizens are eligible to open an account in any Chase branch
- $2.50 out-of-network ATM fee
- Standard Overdraft Practice is not available
- Parent must have a qualifying checking account
- Access to 15,000 Chase ATMs and more than 4,700 branches
- Account must be linked to a parent/guardian's personal checking account (Chase High School Checking, Chase College Checking, Chase Secure Checking and Chase First Checking do not apply)
- Chase High Checking account converts into a Chase Total Checking Account after you turn 19
- Member FDIC
no monthly service fee
None
$0
- No minimum opening deposit
- Early direct deposit
- No monthly service fees if you're under the age of 25
- May have to open an account at branch depending on your age
- Over 1,000 branches and 3,000 ATMs
- You may open Student Checking online if you're age 18 or older
- If you're at least 17 years old, you may open an individual checking account at a branch
- If you're at least 14 years old, you may open a joint bank account at a branch with a parent or legal guardian
- FDIC insured
no monthly service fee
0.10%
$0
- No minimum opening deposit
- No monthly service fees
- Debit card included
- No overdraft fees
- No out-of-network ATM fees
- Free overdraft protection
- 24/7 live chat
- Earns interest
- Budgeting tools and alters to help teens save
- Parental monitoring features to track spending
- Link your Capital One account to any checking account
- Limited access to customer service by phone
- No reimbursements if you're charged by an out-of-network ATM
- Over 470 branches in NY, LA, TX, MD, VA, NJ, and Washington, DC
- Once teen turns 18 they can open a 360 Checking account
- Interest compounded and deposited monthly
- FDIC insured
no monthly service fee
0.10%
$50
- No monthly service fees
- Earn interest
- $12/month in out-of-network ATM fees
- $50 minimum opening deposit
- Eligible for ages 13 to 17
- Interest compounded daily and deposited monthly
- FDIC insured
no monthly service fee
0.25%
$0
- No minimum balance requirements
- No monthly service fees
- Earn interest if you meet certain requirements
- $20/month in out-of-network ATM fee refunds
- Parental monitoring features
- Interest compounded monthly, not daily
- Access to 80,000 fee-free ATMs
- Eligible for ages 13 to 17
- To earn 0.25% APY, you must sign up for online bank statements and have at least one deposist in your checking account each month
- Interest compounded and deposited monthly
- Federally insured by the NCUA
0.25% to 2.00%
$0
- Competitive interest rate
- No minimum opening deposit
- No monthly service fees
- No out-of-network ATM fees
- Debit card included
- Multiple overdraft protection options
- $4 overdraft fee
- No reimbursements if you're charged by an out-of-network ATM
- Interest compounds monthly, not daily
- Become a Connexus member by donating $5 to the Connexus Association
- 54,000+ free ATMs
- Earn 2.00% APY if you have an account balance under $1,000
- Earn 0.25% APY if you have an account balance over $1,000
- Free overdraft protection that lets you link your checking account to a savings account
- Teen checking account automatically converts to an Innovative Checking Account once teen turns 18
- Interest compounded and paid monthly
- Federally insured by the NCUA
Best Teen Checking Account FAQs
Most banks usually require a minor between the ages of 13 and 17 to open a teen checking account. A parent or legal guardian must open a bank account with the teen. A minor generally can't open a bank account on their own.
Yes, once a teen turns 18, they'll be able to switch to a regular adult checking account. Some banks offer college bank accounts, which might require extra documentation like a college acceptance letter or transcript.
Many teen bank accounts double as budgeting apps to help teens set savings goals. Student bank accounts also often have parental monitoring features that help set limits for spending to avoid fees.
Teens should monitor their debit card usage and checking account balances. They should also limit ATM usage to only ones in their bank's network. This can help them avoid monthly bank maintenance fees, overdraft fees, and ATM fees.
Yes, online banking is safe for teens to use. Teens may use online banking features to track their transaction history and maintain a positive checking account balance. Parents can also use parental monitoring features to help young adults manage their accounts.
Teen Checking Account Reviews
The best teen checking accounts will offer good perks, such as debit cards, access to ATMs, and educational resources. They'll also help you avoid common bank fees, such as monthly maintenance fees, ATM fees, and minimum opening deposits.
Here are the best no-fee teen checking accounts as picked by Business Insider editors in 2025.
Best Brick-and-Mortar Teen Checking Account
Chase High School Checking is a great choice if you'd like to be part of a national bank. The account doesn't require a minimum opening deposit or charge monthly service fees.
Teens have access to budgeting tools on the bank's mobile app to set their own financial goals or keep track of spending while learning how to budget. For instance, through the Autosave feature, you'll be able to set goals and set automatic transfers to save weekly or monthly.
Chase also has more than 4,700 branches and 16,000 free ATMs, which is appealing if you're looking for a bank close to home. You'll also be able to open the account if you aren't a U.S. citizen, which makes it a good online banking option for immigrants.
The account doesn't offer overdraft protection like most of Chase's other products. You'll be denied a purchase if it causes you to overdraw from your account. The best banks for overdraft offer overdraft protection without charging overdraft fees.
Also, you can only open Chase High School Checking if your parent has a qualifying Chase checking account.
Runner-Up Brick-and-Mortar Teen Checking Account
Citizens Bank Student Checking is a bank account for teens and young adults.
Citizens Bank is a solid option if you live in the Midwest or East Coast.Citizens Bank Student Checking offers early direct deposit and doesn't charge monthly service fees.
Once you turn 25, the student checking account will automatically be converted to One Deposit Checking from Citizens Bank®.
If you're under the age of 18, you won't be able to open an account online. Instead, you'll have to open an account at a branch. If you're at least 17 years old, you may open the Citizens Bank Student Checking as an individual bank account. However, if you're between the ages of 14 and 17, a joint bank account must be opened between the child and parent.
Best Online Bank Teen Checking Account
The Capital One MONEY Teen Checking Account is an excellent option if you prefer online banking. The online bank doesn't charge monthly service fees, overdraft fees, or out-of-network ATM fees, making it on par with some of the best banks for ATM fees.
It also offers 24/7 customer service via live chat.
Bear in mind Capital One won't reimburse you if you're charged by an out-of-network ATM, though.
All of Capital One 360's accounts are second chance bank accounts. This means that they don't use ChexSystems to check your credit score when you put in an application. If you have bad credit history, this might be a good choice for you.
Runner-Up Online Bank Teen Checking Account
Axos Bank First Checking doesn't charge any monthly service fees or overdraft fees. You can also get up to $12 in ATM fee reimbursements per month. Axos Bank has a well-rounded teen checking account that makes it easy to avoid a variety of bank fees.
There are daily limits for how much money you can take out from your account — $100 in cash withdrawals and up to $500 in debit card transactions.
Best Credit Union Teen Checking Account
Alliant Teen Checking is a good option for minors between the ages of 13 to 17. The account notably doesn't have any minimum balance requirements and offers $20 in out-of-network ATM fee refunds per month.
Parents may like Alliant Teen Checking if they want to use parental monitoring features to help limits their kid's spending. The credit union permits parents to have full account access and set up alerts for transactions.
You must be a member to open an Alliant bank account. Join Alliant by being an employee, retiree, or member of certain organizations. You can also qualify by living in certain parts of Illinois or being a relative of an existing Alliant member. But the easiest way to become a member is to join Foster Care to Success, and Alliant will cover your $5 joining fee.
Connexus may be able to offer a higher interest rate depending on your account balance. That said, not all checking accounts earn interest, so Alliant is overall a solid choice for an interest-earning account.
Runner-Up Credit Union Teen Checking Account
Connexus offers a competitive interest rate on its Connexus Credit Union Connexus Credit Union Teen Checking account in addition to having zero monthly service fees and no minimum opening deposit. High-yield checking accounts are rare and not offered at many institutions.
Connexus Credit Union is an online financial institution with 11 active branches in Wisconsin, Minnesota, Ohio, and New Hampshire. Credit unions require membership to open bank accounts, but Connexus is a credit union anyone can join, as long as you live in the U.S. Simply make a $5 donation to the Connexus Association.
Connexus charges a $4 overdraft fee if you overdraw from a bank account. However, the bank offers free overdraft protection, so you can avoid this fee if you link your checking account to a savings account.
Bank Trustworthiness and BBB Ratings
The Better Business Bureau assesses businesses based on responses to customer complaints, honesty in advertising, and transparency about business practices. Here are the BBB ratings of our top picks:
| Institution | BBB rating |
| Capital One | A+ |
| Axos | A+ |
| Alliant | A+ |
| Chase | A- |
| Citizens Bank | A |
| Connexus Credit Union | A+ |
Chase Bank has an A- rating from the BBB because it hasn't responded to one complaint filed against the bank.
Citizens Bank has an A rating due to government action taken against the bank.
Alliant, Chase, Citizens, and Capital One have all been involved in recent controversies.
In 2024, Alliant settled a class-action lawsuit, agreeing to pay $86,750 to the lawsuit's members. The lawsuit says that Alliant denied services to DACA recipients and other immigrants because of their citizenship status rather than their creditworthiness. By settling, Alliant does not admit wrongdoing.
In December 2024, the CFPB sued JPMorgan Chase, Zelle, Bank of America, and Wells Fargo for not doing enough to protect customers who use Zelle from fraud. The CFPB says that over $870 million has been lost due to Zelle's lack of fraud protection, and that the listed banks did not properly investigate or reimburse complaints.
In 2023, JP Morgan Chase was required to pay $75 million in a settlement with the U.S. Virgin Islands that accused the financial institution of failing to report suspicious activity regarding Jeffrey Epstein's sex trafficking operation.
In 2023, Citizens paid a settlement of $9 million and agreed to change how it deals with credit card billing errors. The bank did this in response to a 2020 lawsuit from the Consumer Financial Protection Bureau. The CFPB said the bank violated the Truth in Lending Act because it didn't effectively address customer issues regarding credit cards.
In January 2025, the Consumer Financial Protection Bureau sued Capital One. The CFPB says that Capital One unlawfully misled customers about what the best interest rate was on Capital One savings accounts, leading to consumers missing out on more than $2 billion in interest payments.
Capital One used to have an account called 360 Savings. In 2019, Capital One launched the new 360 Performance Savings Account, which paid a much higher interest rate. Many customers thought their old savings accounts would transition into this new one, but in reality, they had to open a new 360 Performance Savings Account to earn the higher rate.
Introduction to Teen Checking Accounts
A teen checking account is a type of joint bank account. Any bank account that's opened for a minor must be opened with a parent.
Financial institutions typically offer teen checking accounts so parents can give older children more financial tools. For example, teen checking accounts come with a debit card, which most kids' savings accounts do not have.
Teen checking accounts differ from regular checking accounts because they offer parental monitoring features. Parents can often temporarily freeze their kids' debit cards or set alerts for teens' transaction usage. They'll also have full access to the bank account as a joint owner.
Key Features of the Best Teen Checking Accounts
Low Fees and Minimum Opening Requirements
Teen checking accounts usually do not have monthly service fees and those that do charge a lower monthly fee than a regular checking account. Minimum opening requirements tend to vary from $0 to $50.
You generally don't need to maintain a certain minimum balance in your account. Since teens are still learning to manage money, many banks waive the usual average daily balance requirements.
Interest Rates
Some of our top picks stand out because they have interest-earning teen checking accounts. Keep in mind, though, that most teen checking accounts usually don't pay interest.
User-Friendly Online and Mobile Banking
Like other bank accounts, young adults and parents can manage a teen checking account through online and mobile banking. If you bank with an online-only financial institution, this will be how you manage your account. If you bank with a brick-and-mortar financial institution, it can be a supplemental tool to track your accounts.
Some teen checking accounts have budgeting tools to help teens save. For example, some mobile apps will allow teens to create savings goals.
Parental Controls and Monitoring
With a joint bank account, teens and parents have equal access, meaning either individual can withdraw and deposit money. That said, parents can place additional limitations and restrictions with parental controls. For example, parents can freeze debit cards or get alerts for checking account transactions.
How to Choose a Teen Checking Account
1. Choose the Type of Bank You Want.
First, decide where you would like to open a teen checking account. You can choose between online banks, brick-and-mortar banks, and credit unions. You can start off by examining the teen checking account at the financial institution you already bank with. Many banks also allow you to open a checking account even if the parent doesn't bank with them, so that's something to consider if you find another institution's options more appealing.
2. Compare Accounts from Different Financial Institutions.
You want to choose a bank account that a teen can manage properly, so they don't have to pay fees. To help you find the best fit, review the fee structure, interest rates, minimum opening requirements, and other perks of various teen checking accounts.
3. Review the Documentation Required.
Once you've decided on an account, review the documentation necessary to open the teen checking account. Generally, both the parent and teen have to provide two forms of ID to open a teen checking account. Parents can use a driver's license and passport, while teens can use a birth certificate and student ID. There are also banks that accept alternative forms of ID if you're not a U.S. citizen.
Why You Should Trust Us: Our Expert Panel for the Best Teen Checking Accounts
We talked to banking and financial planning experts to inform these picks and provide advice on finding the best banks and credit unions for your needs.
Here's what they had to say about bank accounts. (Some text may be lightly edited for clarity.)
How can someone determine whether a bank is the right fit for them?
Tania Brown, CFP® professional and vice president of coaching strategy at OfColor
"Obviously, you want to make sure it's FDIC-insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you're okay online. Do you write checks? Do you not write checks? So it's thinking through how your experience with it is going to be before you make that decision."
Sophia Acevedo, banking editor, Business Insider
"I would create a list of what I prioritize most in a bank account. For example, some banks have accounts that charge monthly service fees. I would look to see what the requirements are for waiving the monthly service fee and whether I think I could feasibly meet those requirements each month. If I'm searching for an interest-earning bank account I'll pay attention to interest rates. I would make sure the account pays a higher interest rate than the average bank account."
What makes a checking account good or not good?
Roger Ma, CFP® professional and author of "Work Your Money, Not Your Life":
"I would look at the ATM branch locations and then minimum balance amounts to not incur a monthly fee… I think there's other stuff that could make life easier, whether it's a free checks, online bill pay, are they in the Zelle network?"
Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:
"The No. 1 thing about a checking account is you should know what provider the debit card is coming from. And a lot of people don't think about that, because there are places that don't accept MasterCard or don't accept an Amex."
Sophia Acevedo, banking editor, Business Insider:
"I would for a checking account that either doesn't have any monthly services fees or offers multiple ways to waive the fee. I would also look at customer support availability and mobile app ratings."
Methodology: How Did Business Insider Choose the Best Teen Checking Accounts?
At Business Insider, our goal is to create useful content that helps you make good decisions about your money. We recognize every person has distinct preferences, so we provide ample options for you to find the most suitable financial product or account for you. You can read more about how we rate and review products on our editorial standards page.
First and foremost, we wanted to provide you with options. We researched the biggest financial institutions to find the best brick-and-mortar banks, online banks, and credits unions that offer teen checking accounts. Then, we compared different features and services to determine which accounts stood out from the rest.
We rate bank products on a scale from one to five stars, with one star being the lowest rating, three stars being an in-between rating, and five stars being the highest rating possible.
We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience. See our bank account methodology to learn more about how we rate savings accounts.
