Learn More About High School Checking Accounts

Open a teen checking account together to help your teenager learn financial fundamentals

If your teenager just got his first job, now is the perfect time to talk about personal finances. Perhaps he's had a savings account up until now, and you should encourage him to continue depositing to this account. However, as he gets older and begins to pay for gas, dates, and gifts, you may want to consider opening a joint checking account with your teen. (It's important to note that your teen must be at least 16 years old to open an account.)


High school checking accounts allow your teen to set up direct deposits from his employer, withdraw cash easily and make debit card purchases when necessary. It provides a little more financial freedom and presents you with the opportunity to teach good financial practices.

What you need to know about a checking account for teens

If your teen is 16, the first thing you need to know about a high school checking account is that you'll need to be on the account as a co-owner. This provides you security and peace of mind. With a joint checking account, you have insight into your teen's spending habits and can help make sure the account doesn't end up overdrawn. Both you and your teen will have the ability to deposit or withdraw funds from the account and access online banking 24/7. You can also make transfers from your own account in real time. You and your teen can choose the right type of checking account for your needs, including a student checking account.


Checking accounts will require a minimum balance to open and have various monthly prices. Some are fixed for easy budgeting while others can be waived by adequate account usage or maintenance of higher balance.

The benefits of a teen checking account in high school

Take this time to sit down and discuss spending, saving and budgets. Work together to create a simple budget with pen and paper or in a spreadsheet. This will reinforce the concept of budgeting and allow your teen to track spending. Incorporate typical expenses like gas money and school lunches as well as date nights and larger purchases.


Teach your teen how to track spending and balance a checkbook every month to avoid overdrawing. Be sure to also go over using text and mobile alerts that will keep your teen aware of when payments clear or the balance is low. Then, show your teen how to use online banking to transfer funds between checking and savings accounts to save up money to buy that guitar or concert ticket.


Citizens Bank checking accounts have several benefits for your teen:

  • Unlimited check writing and an ATM card
  • Direct deposit and automatic payments
  • Helpful customer service
  • Online banking
  • Low monthly fees

A teen checking account also allows you the opportunity to deposit his allowance, if he gets one, right into the bank each week. Starting him down a good financial path early will help your teen manage his income and expenses better when he's away at college and eventually out on his own.

Open a checking account for your teen at Citizens Bank

When your teenager is ready to take on a little more responsibility, consider opening a joint checking account with him. Citizens Bank offers a basic One Deposit checking from Citizens Bank , perfect for your teen's first checking account. Speak to one of our representatives at 1-877-360-2472 for more information or apply for a checking account online today.