Banking Basics for Teens: Opening a Checking Account

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banking basics

So you‘ve decided it’s time for your teen to have their first checking account. At Camino, we can’t stress enough how important it can be for teens to understand banking fundamentals. Just like every other skill, financial literacy is learned. ​​Camino has served the financial needs of Southern Californians and families like yours for over 80 years. Our team of Camino Member Advisors is here to help you and your teen better understand banking basics. 

Our Camino Teen Checking Account can help your teen learn real-world money management experience from depositing paychecks to building savings and paying bills to tracking your balance, all from the convenience of your mobile phone. Introductory Teen Checking Accounts put the experience and power in your hands, as your teen learns valuable lessons about budgeting, spending, and saving.

Types of Teen Checking Accounts – Joint and Custodial 

Bank accounts may vary in terms of the age needed to open an account. Here at Camino, your teen needs to be at least 13 for a Teen Checking Account

When it comes time to open a checking account for your teenager, there are generally two types of accounts you can choose, either a joint account or a custodial account.

A joint teen checking account can be established when one parent or guardian over the age of 18 is listed as the account owner. Your teen will also be listed as a person on the account with access to the account and the capability to deposit or withdraw money. A joint checking account can be a good option for families to teach their teen the value of budgeting and saving money, while at the same time, allowing them access to withdraw and spend money wisely. 

A custodial checking account doesn’t allow your teen to use the account immediately, but they are set up for the benefit of your teen. Once your teen turns 18, any funds in the checking account will become theirs, and they will have full access and control over the account. 

What You’ll Need to Open a Teen Checking Account at Camino

When you help your teen open a checking account, both of you will need to provide specific information to your credit union. This information includes providing your full legal name, social security or tax ID number, home address, and a form of government identification, like a driver’s license, passport, social security card, or birth certificate that shows you are over the age of 18, paperwork that proves you’re the child’s legal parent or guardian, and a small cash or check deposit to open the account with.

Enjoy the Benefits of a Teen Checking Account at Camino Today!

– Camino’s teen/student checking account offers many perks:

– No Minimum Balance

– No Monthly Service Fee

– Convenient Online/Mobile Banking

– Bill Pay

– ATM/Debit Card

– Free Nationwide ATM & Shred Branch Access

– Overdraft Protection Available

– $15 Minimum to Open

– Federally Insured up to $250,000 by the NCUA

– eStatements or Paper Statements whatever is preferred

Meet with a Camino Member Advisor to Open a Teen Checking Account Now!

Let Camino help you and your teen better understand what steps you need to take to open a checking account for them. We are here to partner with you and your family on your financial journey and help you better understand your options. From refinancing your home, loans, saving and checking accounts or whatever your needs are, Camino is here to help. We want our members to find the best option that works for them. Please go online at, give us a call at 800-835-3400 to speak with one of our Member Advisors, or contact us for more information.