I Found the BEST Checking Account for Teens and Kids

[@SmartFamilyMoney]

Get $5 free by using this link to get the Step App: step.com/r/EZFIV Or enter code EZFIV in the app.

[@bearwithcheeseburger]

these videos are actually really helpful for me as a teen to lean this stuff and then tell my parents about it that you for making amazing content

[@tammiemonahan9644]

This was perfect timing. We've been trying to get my son, 17, a bank account and everywhere we go he is required to have a CA State ID and it's too hard to get that right now. And most of the kids cards were like $5 - $12 a month fee. I had to do an online Varo account for him just so he could get something. I have a Capital One CC so that might just work out great. Thank you - headed to watch the Step video now.

[@SmartFamilyMoney]

So glad I could help! It's surprising how few good options there are for teens.

[@californiadude999]

You can deposit cash for the Capital One account at any CVS location not inside a Target store. At least for the 360 accounts but they should have that for the teen account too

[@SmartFamilyMoney]

I just made a video about this! Yes that works for the adult 360 accounts but not the teen accounts (at least not yet!)

[@sequioa69420]

i just turned 13 and now i have a highschool checking thank you

[@SmartFamilyMoney]

Great!

[@seanbak646]

So I had what I think, is probably the same problem as you, opening the Capital One Kids Account online. Filled out the online application and then it said "need more info" and to call Customer Support. When I called, they required that I give SSN over the phone! Don't ever do that people! I refused. I had already submitted my son's and my own SSN in the online application (encrypted with TLS 1.3 and Verified by DigiCert Inc. Why would they go through all the trouble of encrypting their website correspondence and then ask customers to spew their PII over unsecured phone lines. Ridiculous! In this day and age?Currently looking elsewhere for my son's account. Shame because I've been a Capital One customer for a long time and have no complaints till now.

[@mbyrd6713]

I opened a Capital One Money account for my 12y/o. I linked his Navy Federal savings account to it to transfer money. I’m still trying to decide if I like it because it takes so long to transfer money into the account. I was looking for something with no monthly fee that would have his name on the card. Wells Fargo told me that the account would only be in my name until he turned 13. I may change to Wells Fargo next year because of the issue with the deposits but I’m not sure. As far as building credit, I just added my son as an authorized user on a credit card that I already own. The Step App does look like a great way for him to learn how to build credit himself though. Thanks for posting this info, it helped out a lot.

[@SmartFamilyMoney]

Glad I could help. For faster transfers, after 13, he can use Zelle on Capital One Money. I've been doing that with my kids and it's great because it's instant. If I buy something for them, I can also send them Zelle request and they know how much to send for the item.

[@mbyrd6713]

@@SmartFamilyMoney Wow, thanks so much!

[@elyseesblasi3166]

This was helpful. Thank you!

[@danwhite2424]

Cash deposit for Cap1 is easy. Walgreens or CVS. No ATM needed.

[@SmartFamilyMoney]

Yes and this is on the teen accounts now! It wasn't when I made this video.

[@LineleaderOG]

this was very helpful thanks

[@SmartFamilyMoney]

Glad you liked it! Thanks for the comment.

[@akin242002]

It's really between Chase and Capital One. Capital is more favorable to middle class income earners, especially blue collar workers. Chase favors slightly wealthier clientele. Upper middle class that travels and invests.

[@SmartFamilyMoney]

I mean, we're talking about teens here. Most of them are just looking for a way to spend their babysitting money on some Chipotle. 😊

[@Phantomfleetgaming]

Chase also has a bank account for 6 to 18-year-old it’s called Chase first checking

[@SmartFamilyMoney]

Yes that one is more limited and mostly intended for younger kids. It does have direct deposit or Zelle.

[@hazaus28269]

Thank you. This was great!

[@SmartFamilyMoney]

Thanks! I'm so glad you liked it!

[@lucyteneofficialmusic]

Not any more for WellsFargo and Capital Ons bank. The age limits are 13 years old.

[@SmartFamilyMoney]

The Capital One Money account still says ages 8+. Did you have trouble opening one for a kid under 13? www.capitalone.com/bank/checking-accounts/teen-checking-account/

[@californiadude999]

I just looked at Capital One tonight and it’s still 8 years old for them

[@Supercarhypercartruck63]

Thank You it was helpful.

[@SmartFamilyMoney]

Glad it helped!

[@amandalynngoz]

Great video thank you! One question, are there any monthly fees associated with Capital One Money Acct? Also you mentioned spending limitations. What exactly does that mean?

[@SmartFamilyMoney]

Capital One Money does not have any monthly fees. For those under 18, spending is limited to $500/day. If you have a money account and you're over 18, the spending limit is $5,000/day. Also, certain adult businesses are not allowed to be used with the Capital One Money account (liquor stores and car rentals, etc).

[@amandalynngoz]

@@SmartFamilyMoney perfect. Thanks so much for the response

[@SabirHaji-d5l]

Does anyone know with the kids debit card for Chase, would the kids be able to withdraw money or only use the card in stores and online?

[@54nny]

Greetings, i’m a minor myself and i’m trying to get myself a card and my mom is on board but she uses wells fargo but i want to set up with capital one, would i be able to set up with capital one if my mom uses wells fargo?

[@SmartFamilyMoney]

Yes, your mom would need to be on your Capital One Money account, but she doesn't need to set up her own Capital One account. She'll even be able to transfer money from her Wells Fargo to Capital One easily. You can also use Zelle which is a convenient way to transfer quickly between banks (she'd have to set up Zelle on her Wells Fargo account).

[@quinncarter3707]

Can other family members, like grand parents, send money to the teen for their capital one card through Zelle, Venmo or other apps? If so , is there an age limit? It was hard to find this info on their site.

[@SmartFamilyMoney]

Capital One Money is a regular bank account so it can be linked to various apps, BUT may of the apps don't allow people under 18. The ones I recommend for ages 13+ are Step and Cash App. I have a variety of videos about them in my playlist about banking for kids and teens: kzbin.info/aero/PL1f_tVLOUXFTmlQLu5xQCHrXcarBXkpSN

[@veronica26281]

For the chase HS checking account can the parent see the exact items the child is buying off of, let’s say, Amazon?

[@SmartFamilyMoney]

I haven't used that one specifically but I'm 99% sure the answer is no. On all the ones I've used, you can see WHERE money was spent but not what was purchased. So an Amazon purchase just says Amazon on the statement.

[@jaimecorona2582]

Can you make video of a chase kids debit account I would appreciate that thank you

[@davidschoenknecht253]

So when our 11yo daughter gets a check, can she use mobile deposit with Capitol One Money for kids? Please confirm. This is a biggie for us.

[@SmartFamilyMoney]

Yes! It's so convenient! My kids often get checks for birthday presents and I love that they can deposit checks straight into their own accounts from a phone.

[@jessicaklawitter8634]

What is the need/benefit of having both the capital one money account and the step app? Is it necessary to have both? Thank you !!

[@SmartFamilyMoney]

The Step App is an easy way to send money back and forth (like a kid version of Venmo) but it doesn't have all the features of a bank. The biggest thing it doesn't have is ability to deposit paper checks. My kids are also now signed up for Zelle through Capital One so we're not using Step much anymore because Capital One has everything we need.

[@jessicaklawitter8634]

@@SmartFamilyMoney Thank you so much!

[@xgenkea]

@@SmartFamilyMoney why did you stop using step if it was helping build your kids credit?

[@complexx_scam617]

Does the capital one debit card have digital wallet?

[@SmartFamilyMoney]

Do you mean its own type of digital wallet? Or do you mean Apple and Google Pay? It can definitely be added to Apple and Google.

[@complexx_scam617]

@@SmartFamilyMoney Yeah Sorry I meant can it be added to digital wallet? and also does it do Zelle transfers?

[@SmartFamilyMoney]

@@complexx_scam617 you can definitely use Zelle (my kids have) but I am not sure if there are any restrictions on digital wallets for the Teen Money accounts. My Capital One 360 card works with digital wallet but I don't know if there are any additional restrictions.

[@complexx_scam617]

@@SmartFamilyMoney Oh Okay so you saying the teen debit card won't support digital wallet?

[@SmartFamilyMoney]

@@complexx_scam617 no, I am saying I don't know either way if the teen one will support digital wallet. I haven't tried it and I can't find the answer. I would ask Capital One directly.

[@kaylee-lf8hp]

Can the teens shop online at stores like Amazon, and order from other safe websites with the Capitol One Teen Banking?

[@SmartFamilyMoney]

Yes they can. The only places it can't be used are places that aren't appropriate for minors (alcohol, car rentals, etc).

[@saeedbakhtiear114]

The bank has fee of $5.oo monthly.

[@SmartFamilyMoney]

Which bank do you mean?

[@arthurmillet8023]

One advantage of the Chase High School checking account is that you can write checks from the account, while both Wells Fargo and Capital One don't have this. I know that not many people do write checks anymore and that this isn't something most teens need, but I'm just saying...

[@JustinGoldHaven]

Cash App is probably the best for teens imo

[@SmartFamilyMoney]

Cash App is pretty great but it's not a full checking account. For example, you can't cash a check. Also teens can't deposit paper cash into Cash App.

[@noerestúsoyyo-j8o]

If your teens start to work, many companies do not allow Cash App as a form a direct deposit.

[@litrallybonkerzluv1788]

I’m 15 what account you think will be best

[@themagicalcupcakeunicorn5755]

I’ve had a Bank of America account since 16 and it’s been almost a year and I really like it. No minimum fees, can do online check deposits, track spending, and I’m the sole owner of the account. I’ve had no problems!

[@iamraphaelmirandaa]

How about truist?

[@SmartFamilyMoney]

I don't know about that one. Have you used it?

[@YourJoy]

Nuggets

[@SmartFamilyMoney]

What is nuggets? Is that a teen account?

[@YourJoy]

@@SmartFamilyMoney Hahahaha, no. It's slang. It means the information on your page is valuable; like gold nuggets. Instead if saying 'This information is like golden nuggets!!' ...it's been truncated to "nuggets." 😌

[@jkaryn]

Super helpful! Thank you!!