The Best Checking Accounts for Teens


A great teen checking account isn't that different from a great bank account for adults. The best teen checking and savings accounts charge low or no fees, are easy to use and offer financial perks. Bankrate notes that teens can benefit greatly from accounts that offer financial education and budgeting tools.


  • Some teen bank accounts have age restrictions, so look for an account designed for your child's age group.

Capital One 360 MONEY

NerdWallet highly recommends Capital One's 360 MONEY account for teens that want great online banking tools. Since Capital One 360 is an online-only bank, it has stellar tools that make it easy to manage money online or through a smartphone. Teens can deposit checks with the CheckMate smartphone app and access funds for free through a network of 38,000 ATMs. The account is virtually fee free with the exception of a charge for overnight debit card delivery and a small interest charge on overdrafts. The Capital One 360 MONEY account is available for individuals aged 8 to 17.

Wells Fargo Teen Checking Account

For teenagers still getting used to bank accounts, recommends the Wells Fargo Teen Checking account. The account comes with a Getting Started Guide that walks the teen through the basic functions of a checking account, like depositing and withdrawing money. It also offers a My Spending Report that automatically categorizes monthly spending. The account also can be linked to a Wells Fargo Way2Save savings account, which has no monthly service fee as long as the teen is under 18.

USAA Youth Account

If you're not comfortable giving you teen free reign over his checking account, the youth account that USAA offers can be a good option. As a joint account holder, parents can set spending limits to keep teens from blowing through their cash too fast. The USAA account has no monthly fees, a network of 60,000 ATMs and offers mobile deposit solutions. The account is available for teens age 13 through 17.

KidSmart Savings Account

It's helpful for teens to learn the value of savings right away. A teen savings account like KidSmart Savings from Bank of American Fork allows them to do just that. To reward teens for saving, Bank of the American Fork offers an extra-high interest rate on the first $999.99 that they save. There's no minimum balance requirements and it's available for children up to 18 years of age.


  • Some teen and student bank accounts waive fees temporarily but reinstate charges at a certain point. Read the fine print and find out what the charges will be after your teen turns 18 or leaves college.

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