Fee-free and no minimums
Fee-free debit card for your teen
Digital tools for you and your teen
Help your teen take the first steps toward managing their own money. As joint account holders, you and your teen can talk through what it means to have a checking account in their name and how to use their debit card responsibly.
Give your teens the financial tools today to build the future they want. Easy-to-use features make it simple to show your teen how to set up a checking account, keep track of their spending and save toward their goals.
Track activity on the go.
Teens and parents have shared access, so you can both keep up to date on account activity.
Plan for saving and spending.
Your teen can learn by doing—with Spendable and Set Aside categories, they get to decide how much money they spend now or save for later.
Move money easily.
Send money from your linked checking account for automatic allowance or one-time transfer, no need for cash on hand.
Reach for goals.
Your teen can set up and work toward a specific savings goal, and you can choose to reward them when they get there.
MONEY teen checking accounts are only available online. That means you and your teen will be able to open an account, transfer money, talk about spending, and practice their budgeting skills—all from the couch.
While this checking account is designed for teens, any child age 8+ can be a joint account holder with their parent or legal guardian. Once they turn 18, your teen can choose to open a 360 Checking account and transfer their balance from their MONEY account.
Your teen will receive a MasterCard® Debit Card in their name that they can use to make purchases or withdraw cash where MasterCard® is accepted. They’ll also be able to make free withdrawals at any Capital One or Allpoint® ATM. MONEY accounts are paper-free and don’t offer checks.
MONEY mobile features are only available through the Capital One Mobile app, but you can manage and see transactions with online banking. Once you’ve downloaded and signed into the Capital One Mobile app, select your MONEY account. Most of the features should be available through the home screen of your MONEY account.
As a joint account holder, you’ll be able to access your teen’s checking account anytime with your own username and password. Set up text alerts and email notifications for card transactions and account activity.
Teens can check their balance, set up savings goals, set aside money for spending or saving, deposit checks, set up direct deposit and get account text alerts and notifications through the Capital One Mobile app.
Parents or legal guardians can send both automatic allowance and one-time transfers, reward their teen’s goals, remove money, view transactions and receive text alerts and notifications through the Capital One Mobile app. Parents or legal guardians don’t receive a debit card.
You and your teen can deposit checks almost anywhere, anytime with the Capital One mobile app. Just sign in, choose your MONEY account, snap pics of your check and deposit.
Life doesn’t just happen within business hours. That’s why MONEY accounts are available both online and in person at Capital One locations—so that you can bank on your schedule. Visit your nearby Capital One location to open your teen’s MONEY account and get started with awesome free digital tools (and a top-rated mobile app) to help them manage their money, almost anywhere, anytime.
Yes. You can assign up to 10 individuals as Payable on Death beneficiaries, which means that while you’re alive, the beneficiaries won’t have access to anything in the account. Please note that we do not currently support assigning a Trust account as a beneficiary. Assigning beneficiaries can give you peace of mind and can result in increased FDIC coverage for your accounts up to allowable limits. There are 2 ways that you can manage beneficiaries for your accounts.
Yes. You can assign up to 10 individuals as Payable on Death beneficiaries, which means that while you’re alive, the beneficiaries won’t have access to anything in the account. The only exception is that you cannot assign beneficiaries for a Trust account, where the trustee controls funds for another party. Assigning beneficiaries can give you peace of mind and can result in increased FDIC coverage for your accounts up to allowable limits.
The checking account you use to make your first deposit will automatically link to your Money Market account. You’ll be able to easily transfer funds between the two accounts and set up an Automatic Savings Plan.
Web access is needed to use mobile banking. Check with your service provider for details on specific fees and charges. Routine or unscheduled maintenance may impact accessibility. Mobile Deposits are available only in the U.S. and U.S. Territories.
For certain banking products we offer, fees assessed at any ATM within the United States and at some ATMs located outside the United States will be reimbursed within 5 business days, up to $15 per statement period
The Capital One Mobile app has a 4.7/5-star customer rating on the App Store and on Google Play as of 06/13/2019.