4 Best Teen Checking Accounts of 2025
The best teen checking accounts come from Alliant Credit Union, Capital One, Connexus Credit Union and Axos Bank.
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Strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.
More than 100 financial institutions surveyed by our team of experts.
More than 50 data points considered for each bank, credit union and banking technology firm (or neobank).
A teen checking account can help set the foundation for better saving and spending habits and make them more familiar with banking.
» Need help making a decision? Here’s how to choose a teen checking account
Keep in mind that children under 18 typically need an adult to be a joint owner on the account. If you’re a joint owner, you’ll be able to access the account and monitor its transactions.
The following options are the top checking accounts for teens.
Best Teen Checking Accounts
APY
0.10%
With $0 min. balance for APY
Bonus
N/A
Monthly fee
$0
Overdraft star rating
4.8/5
Our Take
Pays interest: Capital One’s Money Teen Checking account comes with a 0.10% APY.
Requirements to earn interest: None. The account earns interest on all balances.
Overdraft policy: Capital One doesn’t charge any overdraft fees on its consumer accounts. Transactions that overdraw the account can be declined.
ATMs: The bank has over 70,000 free ATMs as part of the Capital One, MoneyPass and Allpoint ATM networks.
Features: The Money account offers a debit card for teens and mobile app with the ability to deposit checks. There are no monthly fees or minimum deposits, and teens and parents can sign up for text alerts and emails. Total debit card purchases and cash withdrawals are limited to $500 per day. Parents can also call Capital One to lower this limit if they want.
The online-only account helps parents and their teenagers track spending, deposit funds electronically and lock and unlock the teen’s debit card as needed.
How to open an account: Each account must have an adult co-owner. Once a teen turns 18, they can transfer the balance into other Capital One 360 accounts.
APY
0.25%
Bonus
N/A
Monthly fee
$0
Overdraft star rating
5.0/5
Our Take
Pays interest: Alliant’s teen checking account, available to kids ages 13 to 17, pays a competitive 0.25% annual percentage yield.
Requirements to earn interest: To get this rate, you have to enroll in electronic statements and receive at least one electronic deposit a month of any size; it can include a transfer from a non-Alliant bank or credit union.
Overdraft policy: Alliant doesn’t charge nonsufficient funds fees. The co-owner on the teen’s account can opt in to overdraft protection, where Alliant will pull funds from another linked Alliant account to cover the cost of the overdraft.
ATMs: Alliant has over 80,000 surcharge-free ATMs nationwide.
Features: There is no monthly fee or minimum deposit for Alliant’s teen checking account. This account also has a debit card for teens and mobile banking, including check deposit. Teens are limited to $500 in ATM withdrawals per day, $500 in debit card PIN-based purchases per day and $5,000 in signature-based debit card purchases per day. The teen’s parent or guardian can also set up transaction alerts to monitor spending.
How to open an account: The account must be held jointly with a parent or guardian who is an Alliant member. Obtaining membership is easy; new members can support Alliant’s partner charity, and Alliant will make a one-time donation of $5 to the charity on your behalf, which makes you eligible to apply if you don’t otherwise meet the broad requirements. Once one person gains membership, immediate family members are eligible to join.
APY
2.00%
With $0 min. balance for APY
Bonus
N/A
Monthly fee
$0
Overdraft star rating
4.2/5
Our Take
Pays interest: For its Teen Checking Account, Connexus Credit Union pays 2.00% APY on balances of $1,000 and under, and the credit union has no requirements for earning that interest rate. For balances over $1,000, customers will earn 0.25% APY.
Requirements to earn interest: None.
Overdraft policy: Connexus charges $4 per overdraft occurrence with a cap of two of these fees per day. To avoid an overdraft fee altogether, customers can link a savings account to cover any transactions that would potentially lead to an overdraft, they can apply for an overdraft line of credit or they can potentially qualify for an overdraft Privilege Pay service.
ATMs: Customers have access to more than 67,000 fee-free ATMs. There aren’t any fee reimbursements for out-of-network ATMs.
Features: This teen checking account comes with a debit card and a solid APY offering. Connexus doesn’t place additional transaction limitations on the Teen Checking Account.
How to open an account: Members aged 10-17 can qualify for this checking account. When teens turn 18, they will transition to a Simply Free Checking Account. Minors need to apply with a parent or guardian. Anyone can become a member of Connexus Credit Union by either making a $5 donation to its affiliated nonprofit or meeting another eligibility requirement.
APY
0.10%
With $0 min. balance for APY
Bonus
N/A
Monthly fee
$0
Overdraft star rating
4.8/5
Our Take
Pays interest: Axos Bank’s First Checking account comes with a 0.10% APY.
Requirements to earn interest: None.
Overdraft policy: Axos Bank doesn’t charge overdraft or non-sufficient funds fees.
ATMs: Axos Bank belongs to a network of more than 95,000 fee-free ATMs, and its teen account comes with up to $12 per month in domestic ATM fee reimbursements.
Features: First Checking has no monthly maintenance or minimum balance fees and is available to teens aged 13-17. The account has a $100 daily cash withdrawal limit and a $500 limit for debit transactions.
How to open an account: Parents and their teen can apply for an account through the Axos Bank website.
» Want more options for high school graduates? See our list of the best checking accounts for college students
A more tech-based option: Apps with debit cards
Banks and credit unions aren’t the only places that can help your child learn how to spend and save money. Some nonbank tech firms’ kid-friendly banking apps offer debit cards linked to federally insured accounts, in partnership with banks, and more customized tools than what you’d find at a traditional bank. Some tools include allowance transfers, chore chart trackers, savings goals and parental controls. The minimum age for these apps varies from young kids to teens. See our list of the best banking apps for kids and teens.
Tips for parents
Being a joint bank account owner on a teen account means you’ll have oversight of your child’s spending. It also means sharing responsibility for fees and other consequences, such as overdraft charges, so you’ll want to find a bank or credit union that keeps those to a minimum.
» Not sure if your kid's ready for a bank account? Explore NerdWallet’s best prepaid debit cards
If high yields are more of a priority than having an account marketed specifically toward teenagers, consider adding your child as a joint account holder on another good checking account option. (See NerdWallet’s best checking accounts.)
Last updated on June 9, 2025
Methodology
We took a close look at over 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings™, BrioDirect, Capital One, Carver Federal Savings Bank, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Climate First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Delta Community Credit Union, Discover® Bank, E*TRADE, EverBank, Fifth Third Bank, First Foundation, First Internet Bank, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, Global Credit Union, GO2bank, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, Laurel Road Bank, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, OMB Bank, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo, Western Alliance Bank and Zynlo Bank.
NerdWallet's Best Teen Checking Accounts of 2025
Frequently asked questions
What is the best bank account for a teenager?
The best bank account for a teen is one that will help them learn to manage their finances and has low to no fees. Mobile and online banking options can make personal finance management more accessible to teens, and caps on ATM withdrawals or spending limits are features to consider seeking out.
Can I open a teen bank account online?
Teen bank accounts can be opened online. Some teen checking accounts, such as the Capital One MONEY account and Axos Bank’s First Checking account, are only available online. Others may require that the child go to a branch to open their account.
Can a minor have a checking account?
Children and teens can have checking accounts, but generally, an adult must be a co-owner on the child’s account.