When Should My Teenager Open Their First Checking Account?

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A checking account is one of the fundamentals of personal finance. But how do you know when is it the right time to introduce a checking account to your teenager? Like most things, it varies from child to child. However, we highly recommend encouraging your teen to play an active role in their own personal financial development.

Here are a few adolescent milestones that make sense when it comes to establishing that first checking account.

Earning an Allowance

While doing chores around the home likely will not make your teen’s resume, earning an allowance for household chores is an early way to introduce your teen to the relationship between hard work and earning an income. Introducing a checking account to your teen during this stage in their financial lives can lay the foundation of banking through making deposits, checking their balances, and gaining access to their funds.

Your Teen’s First Job

Regardless of age, we all can walk down memory lane and reminisce on our first job. Earning your own money and the excitement of getting your first paycheck is something we can all relate to. As your teen begins their journey into the workforce, their accomplishment should be celebrated. A first job is not only a great way for them to develop their skills and be introduced to financial responsibilities, but it’s also a fantastic time to introduce their first checking account. Not only will they have a safe and secure way to receive their hard-earned money, but it also allows them to learn the essential skills in maintaining their income and expenses.

Preparing for Adulthood

Transitioning into adulthood can be both exciting and scary. Your teen is making their first life-impacting decisions around where they want their journey to take them, and getting the hang of the many new privileges and responsibilities. Your teenager will learn many of life’s lessons as they embark on adulthood, but learning the basics of money management doesn’t have to be one of them. As your teenager prepares for their journey into adulthood, introducing them to a checking account early can allow them to have the guidance the steer them in the right direction, but to also have the ability to make mistakes early without so much of the pressure of getting things right.


It’s never too early to get your teen involved in personal banking and a checking account is one of the best tools to start. As early as the age of 13, your teenager can take advantage of a free checking account right here at Call Federal. Visit our Teen Checking page here to learn more about our Launch checking, and what you will need to get started.

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