Teenagers initially learn their money management skills at home.
It is up to adults to guide teens in the right direction before they reach college
or the workforce. The more you teach your kids about money the better prepared
they are for a successful financial future.
Teen checking accounts are an excellent tool to teach kids how to
save and spend responsibly. If you are looking for the best checking account
for your teenager consider Capital One 360's MONEY teen checking account that has
no fees, no minimum-balance requirement and comes with a free debit card.
How Capital One 360's MONEY Teen Checking Works
The Capital One 360 teen checking account allows your teenager to monitor
their accounts, check their balance, change passwords and pins and even set-up
direct deposit. Teens will get a Debit MasterCard® to access cash whenever they
want. Teens will be able to make purchases and manage their money all with the
proper oversight by their parents.
Capital One 360 Checking Features
Teen Checking. The Capital One 360 MONEY
account for your teen is a Debit Card and bank account that you and your teen
manage together online or with the Capital One 360 mobile app.
No fees. There are no hidden fees or
minimum balance requirements. Checking accounts can be opened with $0.
MasterCard® Debit Card. Get a free MasterCard® Debit Card for
all purchases and access to over 38,000 fee-free Allpoint® ATM Automatic Teller
Machines and 2,000 Capital One® ATMs and text alerts when transactions are made.
Earns Interest. A 0.25% variable Annual
Percentage Yield (effective 9/7/2014) is earned on everyday cash.
Mobile Banking. Deposit checks from anywhere
with CheckMate. Make check deposits online or with the Capital One 360 mobile
app. Deposits can also be made through the mail.
Set up Direct Deposit. Working teens can set up direct
deposit and put all (or just some) of their pay into MONEY. It is simple to get
started.
Joint Account. The Capital One 360's MONEY
Teen Checking must be a joint account and both owners must be U.S. citizens or
permanent residents with a valid Social Security number. One owner must be at
least 18 years old.
Adult Management. Your teen will not be alone in
managing their account. The adult joint account owner will have access to
everything the teen has but without a Debit Card. The adult can sign in with
their own username/customer number/and password. Details of the account can be
managed and an Automatic Savings Plan can be set-up along with email and text
alerts for notifications of card transactions and account activity.
In a recent Capital One 360 poll, 87% of 12- to 17-year-olds
reported knowing at least an average amount about managing finances. That study
also found that 24% of them think a debit card is used to borrow cash.
It's critical for teens to be involved in the banking system, so they
won't get caught up in check cashing and other high-cost financial services.
Teach your teenagers money management skills early so they’ll be prepared to
successfully handle their finances. There is no minimum deposit required to
open the Capital One 360's MONEY teen checking account. Open Today!
