4 Best Teen Checking Accounts of 2022
The best teen checking accounts come from Alliant Credit Union, Capital One, Navy Federal Credit Union and Connexus Credit Union.
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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.
Best Teen Checking Accounts
Bank/Institution | NerdWallet Rating | Monthly fee | APY | Bonus | Learn More |
---|---|---|---|---|---|
![]() Capital One MONEY: Teen Checking Account | Best for Free ATM access | $0 | 0.10% With $0 min. balance for APY | N/A | Read review |
![]() Navy Federal Credit Union Free Campus Checking | Best for ATM fee rebates | $0 | 0.05% With $0 min. balance for APY | N/A | Read review |
![]() Alliant Credit Union Teen Checking | Best for Strong interest rate on any balance | $0 | 0.25% | N/A | Read review |
![]() Connexus Credit Union Teen Checking | Best for High interest rate for small balances | $0 | 2.00% With $0 min. balance for APY | N/A | Read review |
Our pick for
Free ATM access
Capital One MONEY: Teen Checking Account

Monthly fee
$0APY
0.10%With $0 min. balance for APY
Bonus
N/AOur pick for
ATM fee rebates
Navy Federal Credit Union Free Campus Checking

Monthly fee
$0APY
0.05%With $0 min. balance for APY
Bonus
N/AOur pick for
Strong interest rate on any balance
Alliant Credit Union Teen Checking

Monthly fee
$0APY
0.25%Bonus
N/AOur pick for
High interest rate for small balances
Connexus Credit Union Teen Checking

Monthly fee
$0APY
2.00%With $0 min. balance for APY
Bonus
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 February 16, 2022
Methodology
We took a close look at over 80 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, Alaska USA Federal Credit Union, Alliant Credit Union, Ally Bank, America First Credit Union, American Express National Bank, Axos Bank, Bank of America, Bank of the West, Bank5 Connect, Bank7, Barclays, BB&T (now Truist), BMO Harris, Boeing Employees Credit Union, BrioDirect, Capital One, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Comenity Direct, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Discover Bank, E-Trade, Fifth Third Bank, First Foundation, First Tech Federal Credit Union, FNBO Direct, GO2bank, Golden 1 Credit Union, HSBC Bank, Huntington Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Monifi, Nationwide (by Axos), Navy Federal Credit Union, NBKC, One, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Quontic Bank, Redneck Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, Scarlet, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, SunTrust Bank (now Truist), Synchrony Bank, TAB Bank, TCF Bank, TD Bank, TIAA Bank, U.S. Bank, UFB Direct, Union Bank, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank.
To recap our selections...
NerdWallet's Best Teen Checking Accounts of 2022
- Capital One MONEY: Teen Checking Account: Best for Free ATM access
- Navy Federal Credit Union Free Campus Checking: Best for ATM fee rebates
- Alliant Credit Union Teen Checking: Best for Strong interest rate on any balance
- Connexus Credit Union Teen Checking: Best for High interest rate for small balances
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.