Chase High School Checking Account 2024 Review
Chase Bank High School Checking is designed to help teens aged 13 to 17 take their first steps toward financial independence. Teens can open this account with the help of a parent or guardian.
Student checking accounts are a great way for teens to learn about money management. The Chase Bank High School Checking account equips teens with helpful tools to track spending and save toward their financial goals.
You might consider opening this account if you:
- Have a teen who's 13 to 17
- Are looking for a checking account, vs. a prepaid debit card for teens
- Prefer a traditional bank to an online bank
- Own a qualifying Chase bank account
In addition to High School Checking, Chase also offers a College Checking account for students aged 17 to 24, the First Banking account for kids 6 to 12, and Chase Savings, which is designed for kids and teens under 18.
Chase High School Checking Account Pros & Cons
Compared to Other Checking Accounts
U.S. Bank Student Checking
U.S. Bank Student Checking is available for teens and young adults aged 13 to 24. Students pay no monthly maintenance fees and there are no overdraft fees when certain conditions are met. Teens get access to a debit card, which is convenient for spending or withdrawing cash at ATMs and there are no fees to use U.S. Bank ATMs.
Read our full editorial review of the U.S. Bank Student Checking account
Wells Fargo Student Checking
Wells Fargo offers two checking accounts for teens and college students. Clear Access Banking is a checkless checking account for teens aged 13 to 24, while Everyday Checking is geared toward older teens. Both have a minimum opening deposit requirement of just $25 and monthly service fees are waived for each account up to age 24.
Read our full editorial review of the Wells Fargo Student Checking account
Greenlight Teen Debit Card
Greenlight is a reloadable debit card for kids and teens. Parents can open a Greenlight account and get a debit card for up to five kids, with monthly plans starting at $5.99. Kids can use the Greenlight card to spend but they can also set savings goals or start investing through the app with as little as $1.
Read our full editorial review of the Greenlight Teen Debit Card
Bluebird by American Express
Bluebird by American Express isn't specifically designed for teens but parents can set up a Bluebird account on behalf of their child. This prepaid debit card account has no monthly fees, foreign transaction fees, or inactivity fees. You can add cash fee-free at Family Dollar locations and make fee-free withdrawals at more than 37,000 ATMs.
Read our full editorial review of Bluebird by American Express
Interest and Rewards
Some checking accounts pay interest on balances or earn rewards when you spend with your debit card. Chase High School Checking doesn't offer rewards or interest to students.
There's no introductory bonus either, but you could earn one with Chase College Checking does not offer rewards or interest. Chase routinely offers cash bonuses when you open a new account and make a certain number of qualifying debit card transactions.
Even though teens don't get interest or rewards with this account, they do get other helpful features like Autosave. With Autosave, teens can automatically transfer money from their checking account to a Chase Savings account. There's no service fee for Chase Savings accounts when students are younger than 18.
Fees
Chase is a traditional bank which means there are some fees to be aware of. Online banks, by comparison, may charge fewer fees thanks to their lower overhead costs.
Here are some of the main fees to know.
Other Service Fees - Chase High School Checking
| Type | Fee |
|---|---|
| Monthly maintenance fee | $0.00 |
| Out-of-network ATM fee | $3 to $5 |
| Foreign exchange fee | 3% |
| Money order | $5.00 |
| Cashier's check | $10.00 |
| Overdraft | $34.00 |
| Stop payment | $30 |
| Foreign transaction fee | 1% |
| Incoming wire transfers (domestic and international) | $0 to $15 |
| Outgoing wire transfers (domestic and international) | $5 to $50 |
| Legal processing | $100 |
Once your teen turns 19, their account automatically becomes a Chase Total Checking account. This account has a $12 monthly maintenance fee. :
- Setting up a recurring direct deposit of $500 or more per month, OR
- Maintaining an average daily balance of $1,500 or more, OR
- Maintaining an average daily balance of $5,000 or more in all combined Chase checking and savings accounts
It's worth pointing out that there are plenty of online checking accounts that charge no monthly fee and have no minimum balance requirements.
Branch and ATM Access
Chase has a sizable geographic footprint. There are more than 5,100 branches spread across 48 states and the District of Columbia, and more than 15,000 Chase ATMs teens can access.
That's a plus for teens who want to deposit cash or make withdrawals. And parents might appreciate being able to walk into a branch to get help if needed.
You can use the branch and ATM locator tool on the Chase website or in the Chase mobile app to find locations near you.
Account Access
Chase High School Checking comes with some useful features for teens.
In addition to being able to spend or withdraw cash with a debit card, teens can:
- Add their debit card to their favorite digital wallet app
- Get paid via direct deposit or Chase QuickDeposit
- Deposit checks through the mobile app
- Schedule Autosave transfers
- Send or receive money through Zelle
Parents can set up account alerts to keep track of their teen's banking activity. They do not, however, have spending controls. If that's something you'd like then you may want to consider a Chase First Banking account instead.
Daily limits on withdrawals and deposits apply, and limits are subject to change. Chase supports Zelle through the mobile app. Teens can log in, navigate to the Zelle menu, select who they want to pay, and enter the amount.
Teens can also receive payments from you or friends and family through Zelle, with no fees. Zelle transfer limits are outlined in your account agreement.
FDIC Insurance
FDIC insurance is an automatic benefit you get when you open an account at a member bank. This coverage protects your deposits, up to certain limits, if a bank fails.
Chase is FDIC-insured, which makes sense since it's one of the largest banks in the U.S. Deposits are covered up to $250,000 per account owner.
What You Need to Open
Teens can open a Chase High School Checking account with the help of a parent or legal guardian. Note that these accounts can only be opened at a Chase branch; there's no online account opening option.
To open an account, parents will need to bring two forms of ID for themselves and their teen, which may include a:
- Birth certificate
- Driver's license or state-issued ID (with photo)
- Passport
- Social Security card
- Student ID (with photo)
- Military ID
- Employer ID
- Bank statements
- Utility bills
There's one more stipulation. Parents must have a Chase bank account of their own that they can link to their teen's account. There's no minimum deposit required to open the High School Checking account.
Frequently Asked Questions
Is Chase a good bank?
Chase is one of the largest banks in the U.S. and many people choose it because of the range of products and services offered, as well as its geographic footprint. Whether it makes sense to choose a big bank vs. a smaller, community bank or an online bank depends on your preferences and what you're looking for in a bank account.
Can a teen open a checking account?
State laws dictate when teens can open a bank account. A teenager under 18 can have a checking account but they can't open one without the help of a parent or guardian. Teens 18 or older can open a checking account themselves.
Should teens have a checking account?
Opening a checking account for a teenager can be a good introduction to the basics of money management. Whether teens earn money from a part-time job, a side hustle, or allowance, they can benefit from learning how to pay bills, track expenses, or save with a bank account.
