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Capital One MONEY review

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A teen checking account with tools to promote financial responsibility.

finder.com’s rating: 4.8 / 5.0


This joint checking account is for teens starting to earn money on their own. With no fees, no minimums and a 0.25% APY on all balances, teens have the tools they need to start managing their money with the support of an adult. However, it doesn’t offer checks or bill pay.


Monthly fee




Minimum deposit to open


Monthly fee$0
Minimum deposit to open$0
ATMs39,000+ Capital One and Allpoint ATMs nationwide
ATM transaction fee$0
ATM fee rebates15

Expert review

Katia Iervasi

Review by

Katia Iervasi is a writer from Sydney, Australia. Her writing — and curiosity — has taken her around the world, and she now calls New York home. With a journalistic eye for detail, she navigates insurance and finance for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).

Expert review

Incentivize teens to save with the 0.24% interest rate on all balances. With parental monitoring and online money management tools, the Capital One MONEY account appeals to both teens and parents. For sign up bonuses, check-writing services and around-the-clock support, however, you’ll need to look elsewhere.

What are the benefits of a checking account with Capital One?

This account offers FDIC-insured deposits, convenient customer service, a Mastercard debit card and the following benefits:

  • No fees or minimum balances. There’s no charge to open or service the account, and you’ll earn interest on any balance.
  • No overdraft charges. Transactions that overdraw the account will be declined.
  • Convenient deposit methods. Transfer money from an existing Capital One account and deposit checks or cash in compatible Capital One ATMs. Your teen can also upload paychecks and other checks to the app.
  • Solid interest rate. The bank rewards growing balances with a 0.2% APY. This applies to all balances.
  • Top-rated app. Teens can check their balance, deposit checks, set up direct deposit, update account information and enable real-time text and email alerts via the app.
  • Savings tools. Together, you can track spending habits, set savings goals and schedule transfers from your Capital One account to your teen’s Money account.
  • Parental controls. As the primary account holder, you can access the joint account any time, and you’re the only one who can transfer money and set up the Automatic Savings Plan.

Capital One’s ATM network and fees

You can dip your Mastercard debit card into 39,000 Capital One and AllPoint ATMs nationwide for free. If you use an ATM overseas or outside of the network, you may be charged a fee, but the bank will reimburse you within five days for up to $15 per statement period.

AllPoint ATMs are tucked inside select Target, Walgreens, CVS and convenience stores across the country.

What should I look out for?

While the teen checking account has several positive points, it does have its drawbacks. These include:

  • No BillPay or checks. The account doesn’t support bill pay service or come with check-writing privileges, which can make withdrawals inconvenient.
  • No 24/7 support. Access live chat during business hours or call from 8 a.m. to 8 p.m., seven days a week. Outside of those hours, customer service support is limited.
  • No sign-up bonus. Capital One regularly runs promos for its checking, savings and money market accounts, but there are currently no rewards for opening a Money account.

Before you decide if this is a match, you can learn about student checking account options to find the best rates and features for you and your teen’s financial goals.

How much do I need to open an account?

Nothing. To make the Money account accessible for all teens, Capital One doesn’t require a minimum or maximum opening deposit.

Compare with other student checking accounts

Name Product APY ATMs Fee
Chase College Checking
16,000 Chase ATMs and nearly 4,900 branches nationwide
(can be waived)
New Chase customers can get a $100 signup bonus when they enroll in paperless statements and complete 10 qualifying transactions within 60 days of account opening. Plus no monthly service fee as long as you’re between 17-24 years and a student for up to 5 years.
North Loop International Student Account
Get free access to 32,000 ATMs across the US
No account fees. No account minimums. No ATM fees. No incoming wire fees
Capital One MONEY
39,000+ Capital One and Allpoint ATMs nationwide
A teen checking account with zero fees.
Wells Fargo Teen Checking
0.05% on balances of $100,000+
0.03% on balances of $0 to $99,999.99
Everyday checking made easy. Open with $25.

Compare up to 4 providers

How do I apply?

Open a Money account online or in person at a Capital One branch.

The online form takes approximately five minutes to fill out. These are the steps:

  1. Head to the Capital One website.
  2. Hover over the Checking & Savings tab and select Money Teen Checking.
  3. On the landing page, press Open Account.
  4. Log in if you have an existing Capital One account, credit card or loan. If you don’t, press No.
  5. Select the adult as the primary account holder. Enter the Personal, Contact, Citizenship and Employment details for both the adult and teen account holder.
  6. Review and agree to the Terms & Conditions.
  7. Click Now, Let’s Add Money.
  8. Follow the prompts to provide identifying documents and fund your initial deposit. Capital One will confirm those details and send you an account number.


The Money account has two joint owners.

The adult account holder must:

  • Be at least 18 years old
  • Be a US citizen or resident
  • Have an active Capital One deposit account

The teen account holder must be:

  • Between 13 and 17 years old
  • A US citizen or resident

Required information

To apply for an account, you’ll need the following information and documents:

  • Physical address
  • Contact details
  • Employment information
  • Social Security number
  • Citizenship status
  • Government-issued ID, such as a driver’s license or state ID

As the primary account holder, it’s the adult’s responsibility to provide the bulk of these documents. The teen can fill out these fields the best they can.

What other checking options does Capital One offer?

For adults, the bank has the Capital One 360 Checking. The online-only account earns on balances up to and on balances of to . Get a generous 0.2% on those over .

It’s free to open and maintain the account, and you’ll pay nothing to withdraw your money from 39,000 Capital One and AllPoint ATMS across the US.

Does this bank offer business services?

Yes. Capital One has two customized business checking accounts:

  1. Spark Business Basic Checking. This account helps businesses to manage their cash flow with unlimited transactions and free overdraft protection. The bank will waive the $15 monthly service fee if your previous 30- or 90-day balance averages $2,000 or more.
  2. Spark Business Unlimited Checking. Along with unlimited transactions, this account offers fee-free cash deposits and five free domestic wires each month. The monthly service fee is $35, but Capital One will waive it if your prior 30- or 90-day balance averages $25,000 or more.

Frequently asked questions

Checking account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.

Read the full methodology of how we rate checking accounts.

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