what is the best bank for teens?

Question

what is the best bank for teens?

Answer 1

Some banks will cater to college students on campus. Basically they should get a free checking account, which are actually plentiful for these type accounts. But no credit cards at all.

There is actually an alternative that is probably better if you are giving them money on a regular basis. That is a refillable debit card. Most of the credit card companies have them but you want to look for the ones that charge the lowest fee to refill the card. American Express has a nice card that gives them an ego boost but remember not all places accept the card versus Visa and MasterCard (but the good places do). An advantage is that the money is protected from loss or theft (I think all of them do), they cannot overdraft the card and you might be able to monitor where the money is being spent, and you can refill it online. z

Answer 2

I would go with the Bank of America or a Local Credit Union. You are safe with a large bank and you will learn a lot from banking locally. It is what you want from an account that counts. If you want to stay local it's the union, but if you want to travel, it's the big ones.