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As the tides change and parents and schools work to increase personal finance knowledge for kids, banks are getting on board and offering checking accounts for teens. Choosing the right checking account for your teen is important. As we perused the top teen checking accounts, we looked at features such as parental controls, overdraft safeguards, fee structures, and more. For example, some teen checking accounts have lower daily ATM and debit purchase limits than others. Others may have different parental control features.

Parents and guardians can monitor and set spending limits without a monthly fee. But although the account earns interest, the APY is only 0. Shannon Terrell is a senior writer for Finder who has written over personal finance guides. With a focus on investments and personal finance, she breaks down jargon-laden topics to help others make informed financial decisions. She studied communications and English literature at the University of Toronto.