Best Teen Banking Accounts of 2025
We evaluated the best banking accounts for teenagers on parental controls, learning tools, fees, and real-world financial education features.
5 items ranked · Last reviewed January 2025
Greenlight
The most comprehensive money app for families
Greenlight is the gold standard for teen financial education. The combination of real-time parental controls, chore management, savings goals, and beginner investing makes it the most complete financial learning platform for teenagers. Worth every penny of the monthly fee.
PROS
- ✓Real-time store-level spending controls — parents approve or block specific merchants
- ✓Chores, allowance, and savings goals all in one platform
- ✓Invest feature lets teens buy fractional shares and learn markets
CONS
- ✕Monthly fee required
- ✕Not a full bank — needs to pair with parent's checking account
Step
Build credit history before college — for free
Step's unique credit-building debit card gives teens a head start on their credit score before they turn 18. By the time they need a student credit card or apartment lease, they'll have an established credit history. The fact that it's completely free makes it a no-brainer addition for any teen.
PROS
- ✓Free Visa card that builds credit history from day one
- ✓No fees, no credit check, no overdraft possible
- ✓Automatic savings round-up feature
CONS
- ✕Less robust parental controls than Greenlight
- ✕No chore or allowance management features
Current
Real-time spending insights for teens and parents
Current delivers real-time visibility into teen spending without requiring a monthly fee. Parents get instant push notifications for every transaction, can block spending categories, and teens can earn a savings bonus — a solid free alternative to Greenlight.
PROS
- ✓Instant spending notifications to parent's phone
- ✓Parental controls let you block specific categories of spending
- ✓Optional monthly savings bonus up to 4% APY
CONS
- ✕Fewer financial education features than Greenlight
- ✕Premium features locked behind paid plan
Chase First Banking
Real banking with Chase's backing and parental controls
Chase First Banking is the right call for families already using Chase. It integrates seamlessly with parent accounts, uses Chase's massive ATM network, and provides basic parental controls. The traditional bank backing provides reassurance that fintech startups can't match.
PROS
- ✓Backed by the nation's largest bank — maximum security and trust
- ✓Integrates directly with parent's Chase checking account
- ✓16,000+ fee-free Chase ATMs nationwide
CONS
- ✕Requires parents to have a Chase checking account
- ✕Financial education features less developed than fintech competitors
Copper
Banking that actually teaches teens about money
Copper's integration of financial education lessons directly into the banking app is genuinely clever — teens learn about budgeting and investing in the context of their actual money. The completely free model and 5% savings rate make it the best-value teen banking option.
PROS
- ✓In-app financial education lessons built directly into the banking experience
- ✓No fees at all — completely free for families
- ✓Interest on savings up to 5% APY
CONS
- ✕Smaller company — less brand recognition than Greenlight or Chase
- ✕Fewer parental control options than Greenlight