Best Teen Checking Accounts of November 2023

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Teen checking accounts offer a great way for teens to budget and learn to establish their own personal finance goals. The best checking accounts, especially for teens, won't charge you monthly service fees or overdraft fees. It should also have budgeting features, an easy-to-use mobile app, and intuitive online banking.

The Best Teen Checking Accounts

• Chase High School Checking - Product Name Only: Best brick-and-mortar bank
• Citizens Bank Student Checking - Product Name Only: Best brick-and-mortar bank, runner-up
• Capital One MONEY Teen Checking Account - Product Name Only: Best online bank
• Axos Bank First Checking - Product Name Only: Best online bank, runner-up
• Alliant Teen Checking - Product Name Only: Best credit union
• Connexus Credit Union Teen Checking - Product Name Only: Best credit union, runner-up

These institutions have stayed as our top picks for the last few months because they continue to stand out for their minimal bank fees and unique perks.

All of the financial institutions on our list are protected by FDIC or NCUA insurance. Although First Republic Bank was recently shut down, bear in mind your money is safe at a federally insured financial institution. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account.

Below, you'll find our top picks for teen checking accounts.

Compare the Best Teen Checking Accounts

Teen Checking Accounts Frequently Asked Questions (FAQ)

What is a teen checking account?

Teen checking accounts are a type of joint bank account. Financial institutions typically offer teen checking accounts so that parents can provide older children with more financial tools like a debit card. Teen checking accounts are different from regular checking accounts in that they offer parental monitoring features. 

What bank offers the best teen checking account?

If you want a bank that offers a wide array of products and services, national banks might be worth exploring.For high savings rates and low fees, online banks or credit unions may be a great place to start. If you prefer a bank that has close ties to your communities, consider banking with a local institution. Keep in mind that teen checking accounts aren't available at every financial institution. 

What bank accounts are good for high school students? 

Bank accounts that have minimal monthly service fees, overdraft fees, or out-of-network fees may be good options for high school students. Several student bank accounts also have parental monitoring features that help set limits for spending to avoid fees.

Teen Checking Account Reviews

Best Brick-and-Mortar Teen Checking Account

Chase High School Checking - Product Name Only

Chase High School Checking is a great choice if you'd like to be part of a national bank. The account doesn't require a minimum opening deposit or charge monthly service fees. 

Teens have access to budgeting tools on the bank's mobile app to set their own financial goals or keep track of spending. For instance, through the Autosave feature, you'll be able to set goals and set automatic transfers to  save weekly or monthly. 

Chase also has more than 4,700 branches and 16,000 free ATMs, which is appealing if you're looking for a bank close to home. You'll also be able to open the account if you aren't a US citizen.

 The account doesn't offer overdraft protection like most of Chase's other products. You'll be denied a purchase if it causes you to overdraw from your account. 

Also, you can only open Chase High School Checking if your parent has a qualifying Chase checking account.  

Chase Bank Review

Runner-Up Brick-and-Mortar Teen Checking Account

Citizens Bank Student Checking - Product Name Only

Citizens Bank Student Checking - Product Name Only is a bank account for teens and young adults.

Citizens Bank is a solid option if you live in the Midwest or East Coast. Citizens Bank Student Checking - Product Name Only offers early direct deposit and doesn't charge monthly service fees.

Once you turn 25, the student checking account will automatically be converted to One Deposit Checking from Citizens Bank® - Product Name Only.

If you're under the age of 18, you won't be able to open an account online. Instead, you'll have to open an account at a branch. If you're at least 17 years old, you may open the Citizens Bank Student Checking - Product Name Only as an individual bank account. However, if you're between the ages of 14 and 17, a joint bank account must be opened between the child and parent.

Citizens Bank Review

Best Online Bank Teen Checking Account

Capital One MONEY Teen Checking Account - Product Name Only

The Capital One MONEY Teen Checking Account is an excellent option if you prefer online banking. The online bank doesn't charge monthly service fees, overdraft fees, or out-of-network ATM fees. You'll also be able to contact a customer representative 24/7 via live chat.

Bear in mind Capital One won't reimburse you if you're charged by an out-of-network ATM, though.

Capital One Bank Review

Runner-Up Online Bank Teen Checking Account

Axos Bank First Checking - Product Name Only

Axos Bank First Checking - Product Name Only doesn't charge any monthly service fees or overdraft fees. You can also get up to $12 in ATM fee reimbursements per month. Axos Bank has a well-rounded teen checking account that makes it easy to avoid a variety of bank fees.

 There are daily limits for how much money you can take out from your account — $100 in cash withdrawals and up to $500 in debit card transactions.

Axos Bank Review

Best Credit Union Teen Checking Account

Alliant Teen Checking - Product Name Only

Alliant Teen Checking - Product Name Only is a good option for minors between the ages of 13 to 17. The account notably doesn't have any minimum balance requirements and offers $20 in out-of-network ATM fee refunds per month. 

Parents may like Alliant Teen Checking - Product Name Only if they want to use parental monitoring features to help limits their kid's spending. The credit union permits parents to have full account access and set up alerts for transactions.

You must be a member to open an Alliant bank account. Join Alliant by being an employee, retiree, or member of certain organizations. You can also qualify by living in certain parts of Illinois or being a relative of an existing Alliant member. But the easiest way to become a member is to join Foster Care to Success, and Alliant will cover your $5 joining fee.

Connexus may be able to offer a higher interest rate depending on your account balance. That said, not all checking accounts earn interest, so Alliant is overall a solid choice for an interest-earning account.

Alliant Credit Union Review

Runner-Up Credit Union Teen Checking Account

Connexus Credit Union Teen Checking - Product Name Only

Connexus offers a competitive interest rate on its Connexus Credit Union Teen Checking in addition to having zero monthly service fees and no minimum opening deposit. This is a unique perk not offered at many institutions. 

Connexus Credit Union is an online financial institution with 11 active branches in Wisconsin, Minnesota, Ohio, and New Hampshire. Credit unions require membership to open bank accounts, but Connexus makes it easy for anyone in the US to join. Simply make a $5 donation to the Connexus Association.

Connexus charges a $4 overdraft fee if you overdraw from a bank account. However, the bank offers free overdraft protection, so you can avoid this fee if you link your checking account to a savings account.

Connexus Credit Union Review

Other Financial Institutions We Considered

We researched many financial institutions to find banks and credit unions that offered teen checking accounts. The following are other banks and credit unions we considered but didn't choose in the end. You may still want to explore one of these accounts if it appeals to you, though.

Note that we aren't including online banking platforms, since you need to be 18 years or older to open those accounts.

• TD Bank: TD Bank has a student checking account with no monthly service fees, but it's for ages 17 to 23. 
• Wells Fargo: Wells Fargo has two checking account options for teens. But the accounts require a $25 minimum opening deposit, and one account may entail monthly service fees. Our top picks for brick-and-mortar banks have lower minimum opening deposits and are fee-free accounts.
• M&T Bank: M&T Bank offers a checkless account for teens. You'll need to meet certain monthly requirements to waive the $4.95 monthly service fee.
• Regions Bank: Regions Bank offers a student checking account for anyone age 25 years or younger. The account doesn't charge monthly service fees but requires a $50 minimum opening deposit. Our topic picks for brick-and-mortar banks have more standout features, though.
• PNC Bank: The PNC Virtual Student Wallet is offered to teens and has zero monthly service fees. The Virtual Student Wallet includes three bank accounts, which could be overwhelming if you want just a straightforward checking account.
• Bethpage: Bethpage has a solid checking account with no monthly fees and no minimum opening deposit. Our top picks offer more stand-out features, though.
• Consumers: Consumers offers a solid checking account with no monthly services fees and a low minimum opening deposit. Our top credit union slightly edges out Consumers with a competitive interest rate. 
• Golden 1: The Golden 1 New Generation Checking account has no monthly services fees and no minimum opening deposit. You're only eligible to bank with Golden 1 if you're a California resident, though.
• USAA: The USAA Youth Spending account requires no monthly service fees and has solid monitoring features for spending. However, to be eligible for membership you, a family member, or a spouse must be an active or past member of the military.

Bank Trustworthiness and BBB Ratings

The Better Business Bureau assesses businesses based on responses to customer complaints, honesty in advertising, and transparency about business practices. Here are the BBB ratings of our top picks: 

Citizens Bank has an NR (No Rating) because the BBB is in the process of reviewing the bank's profile.

In 2020, the Department of Justice required Chase to pay $920 million in a settlement that accused the bank of being involved in wrongful trading.

In 2020, the Consumer Financial Protection Bureau filed a lawsuit against Citizens Bank that said the bank violated the Truth in Lending Act because it didn't effectively address customer issues regarding credit cards.

Why You Should Trust Us: Our Expert Panel for the Best Teen Checking Accounts

We talked to banking and financial planning experts to inform these picks and provide advice on finding the best banks and credit unions for your needs.

Here's what they had to say about bank accounts. (Some text may be lightly edited for clarity.)

How can someone determine whether a bank is the right fit for them?

Tania Brown, certified financial planner at SaverLife:

"Obviously, you want to make sure it's FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you're okay online. Do you write checks? Do you not write checks? So it's thinking through how your experience with it is going to be before you make that decision."

Sophia Acevedo, certified educator in personal finance, banking reporter, Personal Finance Insider:

"I would create a list of what I prioritize most in a bank account. For example, some banks have accounts that charge monthly service fees. I would look to see what the requirements are for waiving the monthly service fee and whether I think I could feasibly meet those requirements each month. If I'm searching for an interest-earning bank account I'll pay attention to interest rates. I would make sure the account pays a higher interest rate than the average bank account."

What makes a checking account good or not good?

Roger Ma, certified financial planner with lifelaidout® and author of "Work Your Money, Not Your Life":

"I would look at the ATM branch locations and then minimum balance amounts to not incur a monthly fee … I think there's other stuff that could make life easier, whether it's a free checks, online bill pay, are they in the Zelle network?"

Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:

"The No. 1 thing about a checking account is you should know what provider the debit card is coming from. And a lot of people don't think about that, because there are places that don't accept MasterCard or don't accept an Amex."

Sophia Acevedo, CEPF:

"I would for a checking account that either doesn't have any monthly services fees or offers multiple ways to waive the fee. I would also look at customer support availability and mobile app ratings."

Methodology: How Did Personal Finance Insider Choose the Best Teen Checking Accounts?

At Personal Finance Insider, our goal is to create useful content that helps you make good decisions about your money. We recognize every person has distinct preferences, so we provide ample options for you to find the most suitable financial product or account for you. You can read more about how we rate and review products on our editorial standards page.

First and foremost, we wanted to provide you with options. We researched the biggest financial institutions to find the best brick-and-mortar banks, online banks, and credits unions that offer teen checking accounts. Then, we compared different features and services to determine which accounts stood out from the rest.

See our full ratings methodology for checking, business checking, savings, and money market accounts »