Copper Banking for teens review March 2021 |
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Copper Banking review

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This new digital bank account for teens focuses on financial literacy and education.’s rating: 4.6 / 5.0


Copper Banking is a free digital checking account and debit card for teens with a strong focus on financial education. The mobile app features exclusive content and quizzes designed by Certified Financial Planners and other financial literacy experts. Plus, it has built-in savings tools to help your teen reach their financial goals. But the APY is only 0.001% — that’s one penny for every $1,000 you keep in the account.

$0 per month





Minimum deposit to open


Fee$0 per month
Minimum deposit to open$0
ATM transaction fee$0
Out-of-network ATM fee$0
Foreign transaction fee0%

Expert review

Cassidy Horton

Review by

Cassidy Horton is a writer for Finder, specializing in banking and investments. She has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. Cassidy enjoys educating people about financial services, exploring the Pacific Northwest and watching endless reruns of The Office.

Expert review

One in four teens don’t receive any financial education in the home, according to Copper Banking. This digital bank account is best for teens and parents who are ready to rise above this statistic by learning how to make smart money decisions.

Copper Banking is free to use, but its biggest perk is that it helps teens build financial skills through interactive quizzes in the mobile app. Your teen can also set up savings buckets and use automatic savings tools to reach their financial goals even quicker.

This account also has some attractive perks for parents. Adults can set up allowances and recurring transfers, monitor their teen’s spending and instantly transfer money through the mobile app.

The downside? Copper Banking earns a meager 0.001% APY. For reference, other teen accounts like Alliant Credit Union Free Teen Checking earns up to 0.25% APY, but it doesn’t come with the same educational tools you’ll find with Copper.

How do I open a Copper account?

Sign up for a Copper digital bank account using these steps:

  1. Click Apply now.
  2. Enter your phone number to get a link to download the Copper Banking app for teens.
  3. Launch the app and click How Does It Work?
  4. Click Let’s Do This.
  5. Enter your phone number and click Next.
  6. Enter your security code.
  7. Select whether you’re a teen or parent.
  8. Enter your name, birthdate, email address and zip code.
  9. Follow the steps to invite your teen or parent.
Copper will email you when it’s time to open your account.


Anyone can open a Copper Banking account for their teen when they meet these requirements:

  • At least 18 years old
  • Citizen, permanent resident or non-permanent resident alien in the US on a valid long-term visa
  • Valid Social Security number or tax identification number
  • Existing checking account to link to Copper

Required information

You’ll need the following information when opening your account:

  • Personal information for parent or guardian
  • Personal information for teen
  • Social Security number or tax identification number
  • Login information for linked checking account

What are the benefits of a Copper bank account?

Copper Banking has a mix of features you’d find in other teen checking accounts and prepaid cards. It’s FDIC insured, comes with a Mastercard debit card you can use online, in stores and in Apple Pay. Additional perks include:
  • No fees. Unlike other teen accounts, this one has no monthly maintenance or ATM usage fees. There’s also no minimum balance to get started.
  • Instant transfers. Parents can instantly transfer funds to their teen’s account, which comes in handy if they’re out and need money.
  • Automatic savings tools. Teens can divide their money into different savings buckets and have funds automatically deposited into them when they fund their account. They can also set up shared goals with friends and family.
  • Financial education. Your teen develops good spending, saving and giving habits through interactive quizzes and videos in the mobile app. They can even earn money for watching some of the videos and taking a short quiz that comes after.
  • Fraud monitoring. Features ’round the clock fraud monitoring to help keep your teen’s money safe from suspicious activity.

Copper‘s ATM network and fees

Copper Banking account comes with a Mastercard debit card teens can use to withdraw cash for free at any Allpoint or Moneypass ATM nationwide.Copper Banking doesn’t charge any fees for using an ATM outside of its network, but you may be subject to fees charged by the ATM operator.

What should I look out for?

There are a few potential drawbacks to look out for with Copper Banking:

  • Low interest rate. Unlike most teen accounts, this one earns interest, but the rate is only 0.001% APY, — that’s $0.01 for every $1,000 you save.
  • Potential cash deposit fee. Although Copper doesn’t charge any fees if you deposit cash at a GreenDot location, the retailer might. This fee is usually around $4.95.

Compare Copper with other teen checking accounts

Use this table to see how Copper Banking compares to other teen checking accounts:

Name Product APY Minimum deposit to open ATMs Out-of-network ATM fee
Finder Rating: 4.6 / 5: ★★★★★
Copper is a digital checking account that teaches your teen healthy money habits through interactive quizzes and an intuitive mobile app.
Axos Bank First Checking
Finder Rating: 5 / 5: ★★★★★
Axos Bank First Checking
Made for teens ages 13 to 17, this account earns 0.25% APY and has no monthly fees.
Alliant Credit Union Free Teen Checking
Finder Rating: 4.2 / 5: ★★★★★
Alliant Credit Union Free Teen Checking
80,000 ATMs for free
No minimum or maximum balance and no monthly service fee.
Capital One MONEY
Finder Rating: 4.8 / 5: ★★★★★
Capital One MONEY
39,000+ Capital One and Allpoint ATMs nationwide
A teen checking account with zero fees.
Wells Fargo Teen Checking
Finder Rating: 4 / 5: ★★★★★
Wells Fargo Teen Checking
Everyday checking made easy. Open with $25.

Compare up to 4 providers

How do I deposit or withdraw my money?

It’s unclear at the moment if this account will support cash deposits, wire transfers and remote check deposits. But you can definitely access funds using these methods:


  • Direct deposit
  • Remote check deposit
  • Cash deposit at Green Dot location (fees may apply)
  • Peer-to-peer transfer through the Copper app
  • ACH transfer
  • Debit or credit card from an external financial institution
  • Linked checking account


  • At an ATM
  • Cash back at a retailer
  • ACH transfer
  • Linked checking account

Can I earn rewards with Copper Banking?

Yes, Copper Banking has a referral program that rewards you when friends or family sign up with Copper through your unique referral link. The rewards aren’t always available, but Copper will notify you if there’s an active referral opportunity. To qualify, both you and your referral need to have a separate Copper bank account, open a designated Bank Partner account and complete at least one transaction. If you qualify, you’ll both receive a $3 cash reward.

How do I contact Copper Banking?

Email to speak with a Copper Banking customer service representative. You can also reach out to them on social media:

  • LinkedIn: Copper Banking
  • Instagram: @CopperBanking
  • Twitter: @CopperBanking
  • Facebook: @Copper Banking
  • Snapchat: @getcopper
  • Tik-Tok: @getcopper

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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