Editor's Note: APYs listed in this article are up-to-date as of the time of publication. CNBC Select will update as changes are made public.
Teen checking accounts can be an excellent introduction to personal finance for a young person. They typically operate as a joint bank account, with parents or guardians having full access but separate logins. Teens can practice both financial independence and responsibility by managing their money, with guardrails that let parents lend a helping hand.
To find the best checking accounts for teens, CNBC Select looked for features like parental controls, daily spending limits, ATM fee reimbursements and educational tools. See our methodology for more information on how we made this list.
Best teen checking accounts 2026
Best for kids, tweens and teens
Capital One MONEY Teen Checking
Annual Percentage Yield (APY)
0.10% APY
Minimum deposit/balance
None
Monthly maintenance fee
None
Overdraft fee
None
Offers debit card?
Yes
ATM access
70,000+ fee-free ATMs nationwide; no ATM fee reimbursement
Parental controls
Parents can lock or unlock their kid's debit card, but can't set spending limits or block certain transactions
Terms apply.
Pros
- Earns 0.10% APY on all balances, so your child’s money grows even in small amounts.
- No minimum deposit, no monthly fees, no overdraft fees and no foreign transaction fees
- Access to 70,000+ fee-free ATMs nationwide, giving your child plenty of options for cash withdrawals.
- Parents can monitor transactions, set alerts, schedule automatic allowances, and lock or unlock the card at any time.
- No Capital One account required, so parents can link an external bank account to fund the account.
- Rewards kids for hitting savings goals, making saving feel like an achievement rather than a chore.
Cons
- No ATM fee reimbursement for out-of-network withdrawals.
- Daily limits apply on debit card purchases and ATM withdrawals, which could be restrictive for older teens with bigger expenses.
Who's this for? Despite its name, the Capital One MONEY Teen Checking is not just for teens. Kids ages 8 and older can sign up (with a parent or guardian) and get a debit card, deposit checks, set up direct deposits, check their balances and separate their money into "Spendable" and "Set Aside" categories.
Parents or guardians can track account activity, set up various alerts and lock or unlock their kid's debit card at any time. They can also withdraw money from the account, make one-time transfers, set up autopay for allowances and reward kids for reaching a goal. While the debit card has limited parental controls, Capital One automatically blocks transactions at certain businesses that primarily sell age-restricted items, such as liquor stores.
Best for branch access
Chase High School Checking℠
Annual Percentage Yield (APY)
None
Minimum deposit/balance
None
Monthly maintenance fee
None
Overdraft fee
None
Offers debit card?
Yes
ATM access
16,000 fee-free ATMs nationwide; no ATM fee reimbursement
Parental controls
Parents can monitor account activity, but can't set spending limits or block certain transactions
Terms apply.
Pros
- Teens ages 13 to 17 can open with a parent/guardian as co-owner
- Parents can set up alerts
- No minimum deposit/balance requirements
- No monthly service fee
- No overdraft fee
- 5,000+ Chase branches and 15,000 ATMs
Cons
- Parent/guardian must have an existing Chase checking account
- Account must be opened at a Chase branch
- No APY
- $3 to $5 ATM fee at non-Chase ATMs
Who's this for? Chase High School Checking is specifically for teens ages 13 to 17. This account must be opened at a Chase branch with a parent or guardian present who has an existing qualifying Chase checking account.
Chase stands out for having the most branches of any U.S. bank, so high-school teens can more easily bank in person to get more personal service. Teens also get a debit card, access to thousands of ATMs, the ability to set up direct deposit, an autosave feature that lets you set repeat transfers to your savings account and money transfer app Zelle® to send payments, while parents can set up various account alerts, such as when there are high transactions.
Best for ATM fee reimbursements
First Checking from Axos Bank
Annual Percentage Yield (APY)
0.10% APY
Minimum deposit/balance
None
Monthly maintenance fee
None
Overdraft fee
None
Offers debit card?
Yes
ATM access
91,000 fee-free ATMs nationwide; up to $12 domestic ATM fee reimbursement per month
Parental controls
Parents can lock or unlock their kid's debit card, but can't set spending limits or block certain transactions
Terms apply.
Pros
- Ideal for teenagers ages 13 to 17
- 0.10% APY
- No minimum deposit/balance requirements
- No monthly service fee
- No overdraft fee
- One of the largest fee-free ATM networks
- Up to $12 per month ATM fee refund — the most generous we found
- Parents can set up alerts, lock/unlock kid's debit card
Cons
- Daily limits apply on cash withdrawals and debit card transactions
- Online-only bank
Who's this for? First Checking from Axos Bank is available to teenagers ages 13 to 17 (18 in Alabama) with an adult co-owner on the account. It stands out for a generous domestic ATM fee reimbursement of up to $12 per month — a valuable perk for teenagers who may need to access cash fast and can't travel to an in-network ATM. After all, cash is the preferred payment method for many teens.
Parents can sync their Axos accounts so that they only need one login, view their kid's spending, set up alerts for various account activities and lock or unlock their kid's debit card as needed.
Best for learning financial literacy
Copper
Annual Percentage Yield (APY)
2.00% to 5.00% APY on savings, depending on subscription tier
Minimum deposit/balance
None
Monthly maintenance fee
Monthly subscription costs for Copper: $4.95 per month or $7.95 per month for Copper + Invest
Overdraft fee
None
Offers debit card?
Yes
ATM access
55,000+ fee-free Allpoint ATMs; no ATM fee reimbursement
Parental controls
Parents can lock or unlock their kid's debit card, set transaction alerts and block transactions with vendors flagged for inappropriate content
Terms apply.
Pros
- Ideal for teenagers eager to learn about finances
- 2.00% to 5.00% APY on savings
- No minimum deposit/balance requirements
- No overdraft fee
- Pretty large fee-free ATM network
- Parents can create tasks, schedule automatic allowance, freeze cards, set up alerts
- Educational tools like surveys and games
Cons
- Monthly subscription cost
- No ATM fee refund
- App only (not a bank) providing banking services
Who's this for? Copper is worth considering for its library of educational resources on financial literacy. Teens get access to a debit card, over 55,000 fee-free ATMs and direct deposit. They can make savings goals and round up spare change toward them. With the Earn feature, teens can also watch videos and take surveys — both educational and not — to earn Copper Creds, which can be converted to cash at a rate of $5 per 500 creds that you can spend, save, invest or use to buy gift cards for popular brands like Amazon.
Parents can monitor their teenager's spending and fund their accounts by assigning tasks like household chores or setting up an automatic allowance all through the mobile app. Parental controls include debit card freeze, transaction alerts and inappropriate merchants flagged.
Best from a credit union
Alliant Teen Checking
Annual Percentage Yield (APY)
0.25% APY, if you go paperless and have at least one electronic deposit to teen checking account
Minimum deposit/balance
None
Monthly maintenance fee
None
Overdraft fee
None
ATM access
80,000+ fee-free ATMs; up to $20 ATM fee reimbursement per month
Terms apply.
Pros
- Ideal for teenage members ages 13 to 17
- 0.25% APY, if eligible
- No minimum deposit/balance requirements
- No monthly service fee
- No overdraft fee
- Large fee-free ATM network
- Up to $20 per month ATM fee refund
- Parents can set up alerts, recurring transfers
- Alliant Credit Union is easy to become member of
Cons
- Credit union requires membership
- Parent or guardian on teen checking account must also be a member
- Daily cash limits apply on ATM withdrawals and debit card purchases
- Online-only credit union
Who's this for? Alliant Teen Checking is ideal for teenagers who want to start their money management journey at a credit union, where they can potentially get better terms than a traditional bank. The account is available for ages 13 to 17 with a parent, who as a joint owner of the account, must also be an Alliant Credit Union member. It's fairly easy to join — you can become an Alliant Credit Union member for free by signing up as an Alliant Credit Union Foundation digital inclusion advocate.
The account includes debit cards for both the teen and the parent and a 0.25% APY, which is high for a teen checking account. Parents have full account access and can set up transaction alerts. They can also make one-time transfers or set up recurring ones from their Alliant account. It has up to $20 a month ATM fee reimbursements.
More on our top teen checking accounts
Capital One MONEY Teen Checking
The Capital One MONEY Teen Checking is an online-only account offered by Capital One. Account holders have fee-free access to more than 70,000 ATMs nationwide, including Allpoint and MoneyPass ATMs, but can't bank at a branch.
The account lacks many common banking fees so teens won't be penalized if they don't meet certain requirements, like maintaining a minimum balance or having monthly direct deposits, which can be especially challenging if you're not working yet. Parents can link external bank accounts outside of Capital One so they don't need to be existing customers to open an account.
Starting at age 18, account holders can choose to open a Capital One 360 Checking® account and seamlessly transfer their balance.
Fees
No minimum requirements, no monthly fees, no overdraft fees, no foreign transaction fees
ATM access
70,000+ fee-free ATMs nationwide (no outside ATM fee reimbursement)
Daily limits
Account owners under age 18 are limited to $500 in debit card purchases and withdrawals (including ATM withdrawals) per day; those who are at least age 18 are limited to $5,000 debit card purchases and withdrawals (including ATM withdrawals) per day
APY
0.10% APY on all balances
Chase High School Checking
The Chase High School Checking is a teen checking account with no monthly minimum balance requirements and no monthly service fees. It is a good next step for those who have the Chase First BankingSM account, which is a parent-owned account with a debit card for kids ages 6 to 17. This account must be opened in a branch, but Chase stands out for having more branches than any other bank in the U.S.
The Chase mobile app makes it easy for teens to set savings goals, allocate money towards those goals and track their progress. Parents can transfer additional funds to help them reach their goals faster.
At age 19, Chase High School Checking accounts automatically convert to a *Chase Total Checking® account, though for many students it could make sense to opt for a Chase College Checking℠* account instead. *The Chase College Checking℠ Account is no longer available for new account openings. The parent or guardian from the Chase High School Checking account will remain as a co-owner of the new account unless removed.
Fees
No minimum requirements, no monthly service fees, overdraft fees not available, $3 fee per withdrawal at a non-Chase ATM in the U.S., Puerto Rico and the U.S. Virgin Islands. Surcharge Fees from the ATM owner/network still apply. $5 fee per withdrawal at a non-Chase ATM outside of the U.S., Puerto Rico and the U.S. Virgin Islands. Surcharge Fees from the ATM owner/network still apply.
ATM access
16,000 fee-free ATMs nationwide (no outside ATM fee reimbursement)
Daily limits
None
APY
None offered
First Checking from Axos Bank
Axos Bank is an FDIC-insured online bank with 24/7 customer support over the phone or available through phone or secured messaging. First Checking from Axos Bank boasts zero monthly maintenance fees and no overdraft or non-sufficient funds fees.
The account has a $50 minimum deposit to open the account, but there is no minimum balance requirement beyond that.
Fees
No minimum requirements, no monthly maintenance fees, no overdraft or non-sufficient funds fees
ATM access
91,000 fee-free ATMs nationwide (up to $12 domestic ATM fee reimbursement per month)
Daily limits
Account owners are limited to $100 in cash withdrawals and $500 in debit card transactions per day
APY
0.10% APY
Copper Banking
Copper is a subscription-based mobile app that provides banking services through Evolve Bank & Trust, a Member FDIC. The basic Copper plan costs $4.95 per month and includes access to most features, including the debit card, automatic allowances, peer-to-peer money transfers and no overdraft fees. The more premium Copper + Invest plan costs $7.95 and includes a few additional features like investing for kids and a higher APY for savings.
Account holders can make free cash withdrawals at over 55,000 Allpoint ATM locations. There's also an option to deposit cash at Green Dot® retail locations, but there are fees of up to $4.95 to do so. Debit loads are assessed a 2.5% fee plus $0.30 per transaction.
Fees
Monthly subscription costs for Copper: $4.95 per month or $7.95 per month for Copper + Invest; no minimum requirements, no overdraft fees
ATM access
55,000+ fee-free Allpoint ATMs (no outside ATM fee reimbursement)
Daily limits
Daily debit/ACH deposit limit of $500, daily cash withdrawal limit of $500 and daily debit card purchase limit of $2,000.
APY
2.00% to 5.00% APY on savings, depending on subscription
Alliant Teen Checking
Alliant is an online-only credit union that offers access to more than 80,000 surcharge-free ATMs and up to $20 per month in out-of-network ATM fees. Deposits are federally insured up to $250,000 by the National Credit Union Administration (NCUA).
The Alliant Teen Checking account has no minimum deposit required to open the account and no monthly maintenance or service fees. Parents can also opt-in to free overdraft protection, where Alliant will transfer funds from another linked Alliant account to avoid overdrafts. As with standard Alliant checking accounts, to earn interest, account holders must opt-in to paperless statements and have at least one recurring monthly electronic deposit (such as direct deposit, ATM deposits, mobile check deposits or transfers from other financial institutions).
At age 18, the account will automatically convert to a regular Alliant High-Rate Checking Account. The parent or guardian from the teen account will remain as a joint owner unless specifically removed.
Fees
No minimum requirements, no monthly service fees
ATM access
80,000+ fee-free ATMs (up to $20 ATM fee reimbursement per month)
Daily limits
Teen checking daily limits are $500 in cash ATM withdrawals, $500 in debit card PIN-based purchases, $5,000 in debit card signature-based purchases
APY
0.25% APY, if you go paperless and have at least one electronic deposit to teen checking account
FAQs
Which bank is best for a minor account?
The banks that are best for minor accounts are those that have zero, or very limited, fees, access to a large network of fee-free ATMs, engaging learning tools and reliable parental controls. All the teen checking accounts on this list hit these marks.
Should a 14-year-old have a bank account?
A 14-year-old would generally benefit from having a bank account as it would allow them to learn early the role of money in their everyday lives and how best to manage, save and spend it. This age is eligible to apply to most teen checking accounts.
Can a minor open a checking account without a parent?
Generally, a minor can't open a checking account without a parent. Teenagers must be at least age 18 to open a bank account on their own.
Are teen checking accounts insured?
Teen checking accounts enjoy the same insurance coverage as other types of bank accounts. Most banks are insured by the Federal Deposit Insurance Corporation (FDIC), while accounts at credit unions are insured by the National Credit Union Administration (NCUA).
Bottom line
A teen checking account acts as a firsthand way to learn about money. They say with personal finance, the earlier you learn the basics the better because you can benefit from having more years to save and watch your money grow. For that reason, consider the top teen checking accounts on this list that are a good fit for teenagers and their parents alike.
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every checking account review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of banking products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best teen checking accounts.
Read more
Our methodology
To determine the best teen checking accounts, CNBC Select analyzed options offered by online and brick-and-mortar banks, including credit unions.
When ranking the top teen checking accounts, we prioritized those with debit cards, low to no fees and no minimums, plus availability to a variety of "teen" ages. We also compared accounts based on features like parental controls, ATM fee reimbursements, educational tools for newbies to learn, industry rankings and how easy it is for parents to automate allowance, etc. to their kids' accounts. While we looked at each account's APY, it wasn't a huge factor in our comparisons since teenagers don't necessarily need to chase a high return at their stage.
We ranked our top picks by best for kids, tweens and teens, best for high school students, best for ATM fee reimbursements, best for learning financial literacy and best from a credit union.
All of the checking accounts included on this list are NCUA- or FDIC-insured up to $250,000 per person. The rates and fee structures banks advertise for their checking accounts are not guaranteed forever. They are subject to change without notice and they often fluctuate in accordance with the Fed rate.
To open a checking account for the first time at a bank, most banks and institutions require a deposit of new money, meaning you can't transfer money you already had in an account at that bank.
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* Information about Chase Total Checking® has been collected independently by CNBC Select and has not been reviewed or provided by the issuer of the card prior to publication.
