9 Best Teen Bank Accounts

Teaching teens how to manage money is one of the most valuable life lessons, and opening a bank account is a great place to start. Today, many U.S. banks and credit unions offer teen-friendly checking and savings accounts with features like low or no fees, parental controls, educational tools, and mobile access. These accounts aim to grow with young users, helping them build healthy financial habits while giving parents peace of mind.

Choosing the Best Teen Bank Accounts

To choose the best teen bank account, you should consider:

• Accessibility: Ensure the account offers a user-friendly mobile app and a wide ATM network to facilitate easy access to funds.
• Parental controls: Look for accounts that allow parental oversight — such as transaction alerts and spending limits — to help guide teens in managing their finances responsibly.
• Fees: Opt for accounts with no or minimal fees to prevent unnecessary charges that could erode savings.
• Fraud protection: Prioritize accounts that provide robust security features — including fraud monitoring and zero liability protection — to safeguard against unauthorized transactions.
• Customer service: Seek banks with reliable customer support to easily resolve issues and ensure a smooth banking experience.

Choosing the right teen bank account is an important step in building lifelong financial habits, especially since 54% of teens feel unprepared to financially support their futures. Whether your teen’s goal is saving, learning how to budget or understanding the basics of personal finance, the right bank account can offer both freedom and structure.

The Top 9 Bank Accounts for Teens

These options offer a combination of accessibility, parental controls, low fees, security and customer support, making them suitable choices for teens.

1. PSECU

PSECU offers the best teen bank accounts. It’s a digital-first, member-owned credit union that’s been helping people reach their financial goals since 1934. With a focus on fairness, honesty and integrity, it offers a refreshing alternative to a bank, especially for teens starting their financial journey. Designed to empower young users, PSECU combines modern digital tools, parental oversight and low-fee accounts under its guiding motto — Helping You Achieve More.

Key Features:

• Excellent member service and fraud prevention team
• Debit card access and no monthly fees
• Digital banking tools
• Parental joint ownership
• No monthly fees

2. Citizens Bank

Committed to helping the next generation build strong financial habits, Citizens Bank promotes financial empowerment for young people. Its supportive environment helps them grow their confidence and responsibility with money. The organization is also backed by a decade of steady growth and innovation.

Key Features:

• No overdraft or monthly maintenance fees
• No withdrawal fees from Citizens Bank’s ATMs
• 24/7 fraud monitoring and alerts
• Easy payment options
• Zero liability for unauthorized debit purchases

3. Capital One

Capital One believes in creating equal opportunities for everyone to thrive, especially teens learning how to manage money. With a strong focus on innovation and inclusivity, Capital One builds tools and experiences that empower young users. From real-time alerts to seamless app integration, it helps teens take their first financial steps with confidence, support and a sense of responsibility.

Key Features:

• Fee-free debit cards
• Top-rated mobile app
• Parental monitoring tools
• Card locking and unlocking features

4. Alliant Credit Union

With a legacy of supporting financial wellness since 1935, Alliant Credit Union empowers young members to build lasting money habits. Its mobile-optimized approach, member-first philosophy and commitment to doing good help teens bank smartly and securely. The institution offers a comprehensive banking experience for teens aged 13 to 17 years old.

Key Features:

• No monthly service fees
• Access to 80,000+ fee-free ATMs
• Award-winning mobile app
• Daily cash ATM withdrawal limits of $500 for teen checking accounts
• Two contactless Visa debit cards — one for the parent and one for the teen

5. Navy Federal Credit Union

Navy Federal Credit Union serves the unique needs of its 14 million member-owners. Its dedication to education and well-being ensures that teens and their families can make confident and secure financial decisions.

Key Features:

• 24/7 help from the customer service team
• No minimum balance requirement
• Interest-bearing accounts
• Access to 30,000+ ATMs
• Designed for students between 14 and 24 years old

6. Connexus Credit Union

Connexus Credit Union is a nonprofit financial cooperative with more than 465,000 members across all 50 states. Renowned for reinvesting profits back into its members through competitive rates and high-yield products, Connexus prioritizes service and transparency. Its values-based culture and commitment to community reflect the credit union’s guiding principle — people helping people.

Key Features:

• Educational resources for teens
• Debit card access
• No minimum opening deposit amount
• Competitive interest rates
• Access to 54,000+ surcharge-free ATMs

7. Axos Bank

As one of the first digital banks in the U.S., Axos Bank is a completely online institution that leverages cutting-edge technology to offer modern, streamlined financial services. With over $20.3 billion in assets, it stands out for its efficient, low-cost structure and commitment to evolving with customer needs. Axos Bank provides ongoing innovation, personalized solutions and a user-friendly platform.

Key Features:

• Fee-free ATM transactions
• Zero monthly maintenance fees
• 10% APY
• Daily transaction limits of $100 cash and $500 debit

8. Chase Bank

Chase Bank’s High School Checking is one of the best teen bank accounts. Designed for teens from 13 to 17 years old, it requires a parent or guardian as a co-owner. It offers no monthly service fees when linked to a parent or guardian’s personal checking account and provides access to over 15,000 Chase ATMs. The account includes alerts to help monitor spending.

Key Features:

• Alerts about account activity
• Access to 15,000+ Chase ATMs
• No monthly service fee for students under 18 years old
• Shared teen and guardian ownership
• Required guardian co-ownership

9. Bank of America

Bank of America’s Advantage Banking for Students account caters to teens and young adults. It offers no monthly maintenance fees and no overdraft fees and provides a contactless debit card. The bank includes access to thousands of ATMs and financial center locations, along with financial education resources. Considering that personal finance courses are becoming more popular in high schools, Bank of America is a fantastic ally in this endeavor.

Key Features:

• No monthly maintenance fees
• No overdraft fees
• Contactless debit card
• Access to numerous ATMs and financial centers
• Financial education resources

Empowering Teens Through Smart Banking Choices

Selecting the right bank account is an important step in a teen’s financial journey. These accounts offer a blend of features that promote financial literacy, independence and security. Families should consider factors such as accessibility, parental controls, fees, fraud protection and customer support. These features help set teens up for long-term financial success.