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Wells Fargo Teen Checking review

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A basic account with parental controls and no monthly fee.

finder.com’s rating: 4.0 / 5.0


It’s never too early to start developing good financial habits. The Wells Fargo Teen Checking empowers teens to manage their money responsibly with the help of a parent and 24/7 customer service.


Monthly fee




Minimum deposit to open


APY0.05% on balances of $100,000+
0.03% on balances of $0 to $99,999.99
Monthly fee$0
Minimum deposit to open$25
ATM transaction fee$0
Out-of-network ATM fee$2.50
Overdraft fee$15
Nonsufficient funds fee$15
New account fee$0

Expert review

Peter Carleton

Review by

Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.

Expert review

The Teen Checking account from Wells Fargo is a solid option for teenagers hoping to get a head start on money management. Its parental controls mean you can help guide your teen on their way to financial literacy, and pair well with no monthly maintenance fees or minimum balances.

However, miscellaneous fees can pair with potential longer processing times to create issues. Make sure your teen keeps track of how much they’re spending and whether transactions have gone through over the weekend to ensure they don’t overspend and get hit with extra charges.

What are the benefits of the Wells Fargo Teen Checking?

In addition to overdraft protection and a convenient mobile app, this account features the following benefits:

  • Low fees. This account has no monthly fees, bill pay fees or minimum balance requirements.
  • Freedom. Teens can take control of their money with their own debit card.
  • Parental controls. Parents can help teens manage spending with limits on purchases and withdrawals.
  • Convenient access. Get fee-free access to over 13,000 ATMs and 5,800 branches.
  • Tools. Wells Fargo money management tools can help your teen budget and track their spending.

Wells Fargo ATM network and fees

This account comes with a Wells Fargo Visa debit card with chip technology to protect against theft. Plus, Wells Fargo customers get fee-free access to over 13,000 Wells Fargo ATMs and 5,800 branches. If you use an ATM outside the network, you’ll be charged the following fees:

  • Domestic ATM fee: $2.50 per withdrawal, transfer or inquiry — plus fees from the ATM owner.
  • Foreign ATM fee: $5 per withdrawal — plus fees from the ATM owner.
  • Foreign purchases: 3% per transaction.

What should I look out for?

No account is perfect. Be aware of these potential drawbacks:

  • Opening deposit requirement. Like most Wells Fargo checking accounts, this one requires a $25 minimum deposit to open.
  • Overdraft fees. If you sign up for overdraft protection, you’ll be charged $15 for each transaction that overdraws your account.
  • Miscellaneous fees. Wells Fargo charges higher fees compared to many other banks. Watch out for charges like stop payments, wire transfers and others.
  • Longer processing times. Wells Fargo doesn’t process transactions on weekends, which can lead to longer processing times for transactions and payments.
  • Limited branch availability. Wells Fargo doesn’t have branches in Hawaii, Kentucky, Louisiana, Massachusetts, Maine, Missouri, New Hampshire, Oklahoma, Rhode Island, Vermont or West Virginia.

Not sure if it’s right for you and your teen? Compare student bank accounts to find an option that is.

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?

Since both the parent and teen must be present, you’ll need to visit a branch to open this account. Call customer service or visit your local branch to set up an appointment.


In order to open this account, you’ll need to meet a few eligibility requirements:

  • Teen must be between ages 13 and 17, and 18 in Alabama
  • Make a minimum deposit of at least $25
  • Have a valid Social Security Number or Tax Identification Number
  • Have a valid state-issued ID
  • Have a valid US address

Required information

You’ll be asked for the following information when you apply for an account:

  • Name and date of birth
  • Address
  • Social Security or tax ID number
  • Driver’s license or other state-issued ID
  • Contact information
  • Employment information

What other checking options does Wells Fargo offer?

Wells Fargo has a handful of other checking account options to consider:

  • Wells Fargo Preferred Checking. An interest-bearing checking account best suited for customers with higher balances or existing Wells Fargo mortgages.
  • Wells Fargo Everyday Checking. A low-fee checking account that offers easy access to your money when you need it.
  • Wells Fargo Opportunity Checking. Available if you don’t qualify for other Wells Fargo checking accounts, this option helps you get back into checking.
  • Wells Fargo Portfolio Checking. A full-service checking account with a suite of exclusive benefits but a higher monthly fee than other accounts.

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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