Not every “teen” bank account has all the functionalities of a regular bank account. If you’re earning real money from a job with a W-2, you’ll need a legit bank account that supports direct deposit. That means an account with a routing number, account number and the ability to receive paychecks electronically — just like a regular bank account.
13 teen bank accounts with direct deposit
Quickly compare bank accounts for working teens that accept direct deposit, including their monthly fees and standout perks.
| Greenlight | Starts at $5.99 |
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0 to 17 w/ adult joint owner | Go to site |
| Modak Makers | $0 |
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0 to 18 w/ adult joint owner | Go to site |
| Current Teen Account | $0 |
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0 to 17 w/ adult joint owner | Go to site |
| Step | $0 |
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0 to 17 w/ adult joint owner | Go to site |
| Chase High School Checking | $0 |
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8 to 18 w/ adult joint owner | Read Review |
| Alliant Credit Union Free Teen Checking | $0 |
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13 to 17 w/ adult joint owner | Read Review |
| Axos First Checking | $0 |
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13 to 17 w/ adult joint owner | Read Review |
| Capital One MONEY Teen Checking | $0 |
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8 to 17 w/ adult joint owner | Read Review |
| Fidelity Youth Account | $0 |
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13 to 17 w/ adult Fidelity customer joint owner | |
| U.S. Bank Smartly Checking Account | $0 for ages 24 and under |
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13 to 17 w/ adult joint owner | |
| BECU Teen Checking | $0 |
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0 to 17 w/ adult joint owner | |
| Citizens Bank Student Checking | $0 for ages under 25 |
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Under age 25 (Ages 17 to 14 need adult co-owner) |
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| Connexus Credit Union Teen Checking | $0 |
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10 to 17 w/ adult joint owner |
How does direct deposit work for teen bank accounts?
Direct deposit is a way to send money electronically from one bank account to another. When you have a job and get paid, it means the deposit is sent from your employer’s bank to your bank.
Direct deposit uses the Automated Clearing House (ACH) network, which is a secure system that moves money between banks in the US.
Direct deposit is secure and free, and is probably the easiest and fastest way to get paid when you’re working.
Once set up, you’ll get paid automatically on payday, meaning you won’t get a physical check you have to cash or deposit at your bank. Depending on the bank, you might even get your paycheck up to two days before your actual payday with early direct deposit.
How to set up direct deposit for a teen account
- Your bank’s routing number (a nine-digit number that identifies your bank)
- Your bank account number (often between seven and 12 digits)
- A voided check or bank letter for confirmation
Most teen-friendly bank accounts provide these details right in your banking app, or you can simply call your bank and ask for that information. In some cases, your employer will give you a direct deposit form to fill out.
Hot tip: If you’re under 18, plan on needing a parent, guardian or trusted adult to co-own the account with you. Some banks require minors and their parent to go to the bank to sign up for a teen bank account, too.
Do all teen bank accounts support direct deposit?
Unfortunately, no. You must specifically look for teen accounts that support direct deposit because not all teen accounts are “true” checking accounts.
Some teen accounts are just prepaid debit cards, which means they may not have a routing number and account number, which are required for employer direct deposit.
There are also kid-owned bank accounts that don’t support direct deposit as an extra layer of protection, such as Chase First Banking and Bank of America Advantage SafeBalance Banking. These accounts only allow parents to deposit money into the account, which means they’re not great fits if you’re a working teen looking for an account to store your wages.
How to set up a teen bank account
If you’re under the age of 18, you’ll need an adult to help you set up your bank account. Bank accounts for minors often require teens to be at least 13, and then a parent or guardian is typically the adult joint owner of the account.
To apply for a teen bank account, you typically need this information for both applicants on the account:
- Full names
- Addresses
- Social Security numbers
- Date of birth
- For student accounts, proof of school enrollment, such as transcripts or a student ID
What if I’m over the age of 18?
If you’re an adult, you can apply for a bank account on your own in most states. You’ll need the same information if you were to apply with a joint owner, including your name, address, date of birth and valid government ID. If you’re setting up direct deposit, you’ll need to give your bank’s information to your employer.
Many mainstream banks, such as Chase Bank and PNC, don’t charge monthly maintenance fees on their student accounts, or don’t charge monthly fees until you hit around age 24 or 25. There are also plenty of student accounts out there, often designed for college-aged students with no monthly fees and basic checking perks.
Bottom line
If you’re a teen with a job, you need a real bank account that lets you get paid by direct deposit, not just an app for allowance money.
Look for accounts with no fees, a debit card and easy mobile access. Whether you want more independence or some parental backup, there are plenty of kids’ and teen bank accounts to compare.
Frequently asked questions
What happens to the account when the teen turns 18?
It depends on the bank, but some teen accounts continue to function as normal, while others convert to “adult” accounts.
For example, once a teen owner of the Chase First Banking account turns 18, they need to choose another Chase checking account for it to convert to, such as Chase College Checking, Chase Secure Banking or Chase Total Checking. Another example is the PNC Virtual Wallet Student account, which automatically converts to an adult account at age 18.
Does BusyKid accept direct deposit?
At the time of writing, BusyKid does not have the ability to set up direct deposit.
Does Bank of America Advantage SafeBalance Banking accept direct deposit?
No. Direct deposit and Zelle are both unavailable for teens for the Advantage SafeBalance Banking account, since only parents can deposit or transfer money in or out of the account.
Does Chase First Banking accept direct deposits?
No, the Chase First Banking checking account doesn’t accept direct deposits, and it doesn’t allow Zelle transactions either.
Does Cash App or Venmo count as direct deposit?
Typically, no, Cash App and Venmo transfers aren’t considered direct deposit. Direct deposit, by the traditional definition, goes through the ACH network, which requires a bank account and routing number.
