Kids checking account: what it is and what to consider

When you're looking for a kids checking account, you're probably trying to help your child learn financial responsibility.

But what exactly is a kids checking account, and is it the right choice?

This guide explains how youth checking accounts work, what to look out for, and why many parents are turning to Modak as a safer and more flexible option.

What is a kids checking account?

A kids checking account is a bank account designed for minors. These are usually offered as joint accounts where the parent is the primary holder.

The child may get a debit card, and both parties can see transactions and transfer funds.

Popular options include⁵:

• Chase First Banking (ages 6–17)
• Bank of America Student Banking (typically 13+)
• Capital One Teen Checking (ages 13–17)

While these are more accessible than adult checking accounts, they still follow traditional banking models.

Pros and cons of traditional kids checking accounts

Pros:

• Backed by large banks
• Teaches real-world banking basics
• Allows parent-child shared access

Cons:

• May require a parent to already have an account at the bank
• Can include monthly fees or minimum balance requirements
• Often lack gamified or educational tools
• Limited ability to manage chores or savings goals

Many families searching for a kids checking account want more than just a shared balance, they want control, education, and flexibility.

What to look for in a checking account for kids

If you're evaluating your options, prioritize these features:

• No monthly fees or minimum balances
• Real-time parental controls
• Spending and savings insights
• Age-appropriate design
• Chore/allowance management
• Fun and rewarding experiences to keep kids engaged

While some banks offer partial versions of these tools, few include them all in one place, especially not for free.

Why Modak is better than a kids checking account

Modak isn’t a traditional checking account and that’s a good thing.

It offers the same core functionality parents are looking for in a checking account for kids, but in a way that’s:

• More secure
• More engaging
• No monthly fees for its basic services⁴

Modak includes:

• A Visa® debit card⁽¹⁾ for spending online and in stores
• Full parental controls and real-time notifications
• Chore and allowance tools built right into the app
• Savings goals⁽⁷⁾ kids can track and work toward
• MBX rewards for walking, learning, and completing challenges⁽²⁾⁽³⁾
• No monthly fees⁽⁴⁾

Whether your child is just getting started or already a teen, Modak helps them build strong money habits without the risks of adult-style banking.

FAQs

What is the best checking account for a child?

Modak is a highly-rated option for families seeking an engaging and educational financial tool, combining a Visa® debit card¹ with parental oversight and financial planning features.

Can a kid have a checking account?

Yes, but most traditional checking accounts are limited to ages 13+ and often require joint ownership. Modak offers a debit card for kids, with full parent control.

Which bank is best for a children's account?

If you’re looking for a traditional bank, Chase First Banking is a popular option. Modak offers a different approach than traditional banks, with features designed specifically for kids, including engagement tools and no monthly fees⁴.

What is the best free debit card for kids?

Modak combines a Visa® debit card with rewards, savings tools, and no monthly fees, making it the top choice for families who want financial education and control⁽¹⁾⁽⁴⁾.

What is the best checking account for kids?

Modak is a better option than most traditional checking accounts. It’s built for kids, includes chore/savings tools, and has no fees⁴

Do kids checking accounts charge monthly fees?

Some do. For example, banks may waive fees only if you meet certain deposit or balance requirements. Modak charges no fees at all⁴.

Can my 10-year-old get a checking account?

Traditional bank checking accounts have varying age requirements. For example, Chase First Banking serves ages 6-17, while other banks may require account holders to be 13 or older. Modak offers an alternative option for kids of all ages (up to 17 years old), with a card designed for parental supervision.⁶

Is Modak a checking account?

Modak isn’t a traditional checking account. It’s a deposit account designed for kids of all ages, up to 17, offering a Visa® debit card¹ and parent-supervised features as an alternative to standard bank accounts.

Is Modak safe for kids?

Yes. Parents control the account, monitor activity, set limits, and can freeze the card instantly.

Final thoughts

If you're thinking about opening a kids checking account, it's worth asking what you're really hoping to teach your child.

Do you want them to learn how to budget? Save? Earn money from chores? Avoid debt?

Traditional checking accounts offer some of that. But Modak delivers the full experience, in a kid-friendly way with no fees, more controls, and built-in motivation.

For parents who want to raise financially smart kids, Modak is the place to start.

Sign up for Modak today and give your child the tools to build strong money habits for life.

‍

1. Deposit account and the Modak Visa® debit card issued by Legend Bank, N.A., FDIC-Insured. Modak is a financial technology company and not a FDIC insured financial institution. Funds deposited into a Deposit Account may be eligible for up to $250,000 of FDIC insurance.
2. 100 MBX = $1(as of march 2025). This is an approximation and not a guaranteed result. For more information on MBX, click here for more information on MBX‍
3. Walking 5,000 steps a day gives users 10MBX. This is subject to change at Modak’s discretion
4. Fees for expedited or premium services may apply. Find out more in our Cardholder agreement.
5. Competitor information is current as of January 2026. Bank product features, age requirements, and availability are subject to change. Please verify current offerings on each bank’s official website.
6. For children under 13, Modak complies with the Children's Online Privacy Protection Act (COPPA). Parents must create and manage all accounts. Parental consent is required for all data collection. See Privacy Policy for details
7. Modak Boost Terms and Conditions apply. The Bank does not pay interest on the account, and all incentive payments are funded and made solely by Modak, independent of the Bank.

‍