Companion guide
First bank account
Ages 13 to 17, before the first debit card
Five questions to ask about any account before a teen’s first debit card. The cards turn them into a conversation.
Ask of every account
- Is it a bank, or an app that keeps money through a partner bank? Some teen apps say plainly they aren’t banks. Greenlight Financial Technology, Acorns
- Is the money FDIC-insured? Deposits at an FDIC-insured bank are covered up to $250,000 per depositor, per bank, per ownership category. Federal Deposit Insurance Corporation
- Who owns it? Some are joint with a parent, some are parent-managed, some are teen-owned. Capital One, JPMorgan Chase Bank, Fidelity Investments
- What does it cost each month? Costs range from no monthly fee to paid plans. Capital One, Greenlight Financial Technology
- What happens at 18? Capital One’s teen account stays open; Chase closes Chase First Banking by 25. Capital One, JPMorgan Chase Bank
Open the First bank account cards
Sources
- Greenlight: debit card for kids and teens, Greenlight Financial Technology. Checked Oct 19, 2026.
- Acorns Early, Acorns. Checked Oct 19, 2026.
- Understanding Deposit Insurance, Federal Deposit Insurance Corporation. Checked Oct 19, 2026.
- Accounts for kids and teens, Capital One. Checked Oct 19, 2026.
- Chase family banking options, JPMorgan Chase Bank. Checked Oct 19, 2026.
- Fidelity Youth Account, Fidelity Investments. Checked Oct 19, 2026.
- Greenlight: compare plans, Greenlight Financial Technology. Checked Oct 19, 2026.