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Teens

The Best Banks for Teenagers 

Business and Company Info
Updated October 13, 2018 385 votes 130 voters 2.8k views

Smart teenagers know that the piggy bank went the way of the dodo as far as banking options are concerned. They need a safe, reliable place to store their allowance money while they save up for concert tickets, a car, or college. Many banks and credit unions offer specialized accounts for teenagers, often linked to a parent’s account. Some of the top banks for teenagers offer free accounts, and have ATM cards with customizable spending limits. These ATM cards can be set to provide alerts to parents, to help track your teen’s budget, and to help teach your teen how to watch for any fraudulent activity. What are your teen’s banking needs? Do they have a job? With direct deposit, it’s easy to use a free checking account. Will they be doing most of their banking online or in person? Many top banks for teenagers offer discounts for customers who agree to bank using only online services and ATM transactions.

When you’re looking for the best deal, be sure to check out what perks the bank is willing to offer. It’s in their best interest to build trust and loyalty with young customers, in hopes that they will later return to the same bank for student loans, home loans, and adult banking services. Many of the top banks and credit unions offer young customers boosted interest rates or annual dividends for regular contributions to a savings account, and for maintaining a minimum number of ATM card uses per month. Specialized services, like photo deposit, are invaluable for students away at college, or traveling during school breaks. Young customers have a wealth of choices, and it’s easier than ever to be choosy in selecting the best bank for teenagers’ accounts.

list ordered by
1
Chase is listed (or ranked) 1 on the list The Best Banks for Teenagers
Bank, Financial Services, Commercial Banking
2
PNC Bank is listed (or ranked) 2 on the list The Best Banks for Teenagers
3
YOUR Community Credit Un... is listed (or ranked) 3 on the list The Best Banks for Teenagers
YOUR Community Credit Union
4
Wells Fargo is listed (or ranked) 4 on the list The Best Banks for Teenagers
Investment banking, Financial Services, National Commercial Banks
5
Alliant Credit Union is listed (or ranked) 5 on the list The Best Banks for Teenagers
6
USAA is listed (or ranked) 6 on the list The Best Banks for Teenagers
Financial Services
7
Capital One is listed (or ranked) 7 on the list The Best Banks for Teenagers
State Commercial Banks, Financial Services
8
Generations Federal Cred... is listed (or ranked) 8 on the list The Best Banks for Teenagers
Generations Federal Credit Union
9
Ally Bank is listed (or ranked) 9 on the list The Best Banks for Teenagers
Bank
10
NuMark Credit Union is listed (or ranked) 10 on the list The Best Banks for Teenagers
NuMark Credit Union
11
Bank of the Internet is listed (or ranked) 11 on the list The Best Banks for Teenagers
Bank of the Internet
12
Incredible Bank is listed (or ranked) 12 on the list The Best Banks for Teenagers
Incredible Bank
13
Suburban Bank & Trus... is listed (or ranked) 13 on the list The Best Banks for Teenagers
Suburban Bank & Trust
14
EverBank is listed (or ranked) 14 on the list The Best Banks for Teenagers
Bank, Financial Services
15
Baxter Credit Union is listed (or ranked) 15 on the list The Best Banks for Teenagers
Baxter Credit Union
16
NatWest is listed (or ranked) 16 on the list The Best Banks for Teenagers
Financial Services
17
Landmark Credit Union is listed (or ranked) 17 on the list The Best Banks for Teenagers
Landmark Credit Union
18
ViewPoint Bank is listed (or ranked) 18 on the list The Best Banks for Teenagers
ViewPoint Bank
19
Classic Bank is listed (or ranked) 19 on the list The Best Banks for Teenagers
Classic Bank
20
Connexus Corporation is listed (or ranked) 20 on the list The Best Banks for Teenagers
21
East West Bank is listed (or ranked) 21 on the list The Best Banks for Teenagers
State Commercial Banks, Financial Services
22
Rabobank is listed (or ranked) 22 on the list The Best Banks for Teenagers
Investment banking, Bank
23
Wescom Credit Union is listed (or ranked) 23 on the list The Best Banks for Teenagers
Financial Services
24
STATE STREET BANK & ... is listed (or ranked) 24 on the list The Best Banks for Teenagers
25
One West Bank is listed (or ranked) 25 on the list The Best Banks for Teenagers
One West Bank