Best of

Best Teen Checking Accounts of 2019

Tony ArmstrongSeptember 18, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Summary of Best Teen Checking Accounts of 2019

BankBest ForMonthly FeeAPYLearn More
Alliant Credit Union Teen Checking

Alliant Credit Union Teen Checking

Interest rate

$0

0.45%

Capital One MONEY: Teen Checking Account

Capital One MONEY: Teen Checking Account

Online-only option

$0

0.25%

Wells Fargo Teen Checking

Wells Fargo Teen Checking

Brick-and-mortar option

$0

N/A

Golden 1 Credit Union Free Checking

Golden 1 Credit Union Free Checking

Variety of accounts

$0

N/A

BankBest ForMonthly FeeAPYLearn More
Alliant Credit Union Teen Checking

Alliant Credit Union Teen Checking

Interest rate

$0

0.45%

Capital One MONEY: Teen Checking Account

Capital One MONEY: Teen Checking Account

Online-only option

$0

0.25%

Wells Fargo Teen Checking

Wells Fargo Teen Checking

Brick-and-mortar option

$0

N/A

Golden 1 Credit Union Free Checking

Golden 1 Credit Union Free Checking

Variety of accounts

$0

N/A

Our pick for

Interest rate

Monthly Fee

$0

APY

0.45%

Our pick for

Online-only option

Monthly Fee

$0

APY

0.25%

Our pick for

Brick-and-mortar option

Monthly Fee

$0

Our pick for

Variety of accounts

Monthly Fee

$0

» 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 September 18, 2019

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 UnionAlliant Credit UnionAlly BankAmerica First Credit UnionAmerican ExpressAspirationAssociated BankAxos BankBank5 Connect, Bank7, Bank of AmericaBank of the WestBarclays, BB&T, BBVABoeing Employees Credit Union, BMO Harris, Capital One 360Charles Schwab BankChaseChimeCITCitibankCitizens AccessCitizens Bank, Comerica Bank, Commerce BankConnexus Credit UnionConsumers Credit UnionDiscover Bank, E-Trade, FidelityFifth Third BankFirst National BankFirst Tech Federal Credit UnionGoBankGolden 1 Credit UnionGS BankHSBC Bank USAHuntington BankKeyBank, MetaBank, M&T BankMovenNavy Federal Credit UnionPentagon Federal Credit UnionPNC, Popular Direct, PurePoint Financial, Radius Bank, Redneck Bank, Regions BankSallie Mae BankSantander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, SimpleState Employees’ Credit Union of North CarolinaState Farm BankSuncoast Credit Union, SunTrust Bank, Synchrony BankTCF BankTD BankTIAA BankUnion BankUFB DirectUSAAU.S. BankVaroWells Fargo and Zions Bank.

 

How we rate banks and credit unions

To recap our selections...

NerdWallet's Best Teen Checking Accounts of 2019