Banking For Teens

Sarah Kuhlman

Why Should Teens Have a Checking Account?

Having a checking account early in life teaches a teen how to operate one before they are on their own, and they should have their own by the time they get their first job.

But What Can I Do WIth a Checking Account?

A teen can check their balance, change their personal information, receive a debit card, deposit and mail checks, change their PINs, and much more depending on which bank is chosen.

How Do I Know Which Bank is for Me?

Choosing a bank as a teen is difficult, especially with many places to start looking. A bank that requires no fees under 18 and one that will give the most freedom with a checking account is a good place to start, but a bank account that has an informative website and helpful employees takes the cake. Always go with a bank account that is most willing to help when there is confusion.

What are the dangers?

Having a checking account and a debit card mean that fraud is always a possibility. If you lose your debit card, you should notify your bank as soon as you realize and they will cancel your card and send a new one, which costs around 5 dollars. To avoid this, always keep your card somewhere safe that you know you won't lose it.
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What are the benefits?

Having a checking account gives you your own freedom to have and spend your money as you like, and it also gives a teen the freedom to experience what responsibility with money is. Having a checking account also lets a teen know how to not overspend and how to keep track of spending.

How Do I get started?

Many banks have accounts set up specifically for teen, and with these accounts there are usually no fees. Here are a few links to get started below.
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