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A teen checking account can guide your child toward better saving and spending habits and make them more familiar with banking.
Why trust NerdWallet: Our writers and editors follow 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.
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 are the top checking accounts for teens.
A teen checking account can guide your child toward better saving and spending habits and make them more familiar with banking.
Why trust NerdWallet: Our writers and editors follow 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.
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 are the top checking accounts for teens.
Summary of Best Teen Checking Accounts
| Bank/Institution | NerdWallet Rating | Monthly Fee | APY | Bonus | Learn More |
|---|---|---|---|---|---|
 Capital One MONEY: Teen Checking Account Learn more at Capital One, Member FDIC | Best for Online-only | $0 | 0.10% With $0 minimum balance | N/A | Learn more at Capital One, Member FDIC |
 Alliant Credit Union Teen Checking | Not yet rated Best for Interest rate | $0 | 0.25% | N/A | Read review |
 Wells Fargo Clear Access Banking℠ | Best for Brick and mortar | $0 | N/A | N/A | Read review |
 Golden 1 Credit Union Free Checking | Best for Variety of accounts | $0 | N/A | N/A | Read review |
Our pick for
Online-only
at Capital One, Member FDIC
Capital One MONEY: Teen Checking Account
Monthly Fee
APY
With $0 minimum balance
Bonus
N/Aat Capital One, Member FDIC
Our pick for
Interest rate
Our pick for
Brick and mortar
Wells Fargo Clear Access Banking℠
Monthly Fee
APY
N/ABonus
N/AOur pick for
Variety of accounts
Golden 1 Credit Union Free Checking
Monthly Fee
APY
N/ABonus
N/A» Want more options for high school graduates? Check out our roundup of the best checking accounts for college students
» If you’re still unsure your kid is ready for a bank account, prepaid debit cards provide an option. Explore NerdWallet’s best prepaid debit cards
Tips for parents
Being a joint owner on a teen account means you’ll have oversight into 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.
If high yields are more of a priority than having an account marketed specifically toward teenagers, consider adding your child to another good checking account option.
» For standard checking options, see NerdWallet’s best checking accounts. Some may allow a joint account with a family member.
Last updated on December 21, 2020
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Methodology
We took a close look at over 70 financial institutions, including the largest U.S. banks based on assets, debit card volume, internet search traffic and other factors; the nation’s largest credit unions, based on deposits as well as broad-based membership requirements; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, and digital experience.
Financial institutions surveyed include: Alaska USA Federal Credit Union, Alliant Credit Union, Ally Bank, America First Credit Union, American Express National Bank, Associated Bank, Axos Bank, Bank5 Connect, Bank7, Bank of America, Bank of the West, Barclays, BB&T, BBVA, BMO Harris, Boeing Employees Credit Union, Capital One 360, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Comenity Bank, Comerica Bank, Commerce Bank, Connexus Credit Union, Consumers Credit Union, Discover Bank, E*TRADE Bank, Fifth Third Bank, First Foundation Bank, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, GoBank, Golden 1 Credit Union, Goldman Sachs Bank USA, HSBC Bank, Huntington Bank, KeyBank, LendingClub, Live Oak Bank, M&T Bank, Nationwide Bank, Navy Federal Credit Union, NBKC Bank, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Redneck Bank, Regions Bank, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, State Employees' Credit Union of North Carolina, Suncoast Credit Union, SunTrust Bank, Synchrony Bank, TAB Bank, TCF Bank, TD Bank, TIAA Bank, U.S. Bank, UFB Direct, Union Bank, USAA, Varo, Vio Bank, Wells Fargo, Woodforest National Bank and Zions Bank.
To recap our selections...
NerdWallet's Best Teen Checking Accounts
- Capital One MONEY: Teen Checking Account: Best for Online-only
- Alliant Credit Union Teen Checking: Best for Interest rate
- Wells Fargo Clear Access Banking℠: Best for Brick and mortar
- Golden 1 Credit Union Free Checking: Best for Variety of accounts
Frequently asked questions
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.
Teen bank accounts can be opened online. Some teen checking accounts, such as the Capital One MONEY account, are only available online. Others may require that the child go to a branch to open their account.
Children and teens can have checking accounts, but generally, an adult must be a co-owner on the child’s account.
