Account Requirements
where can you find the requirements to open a teen checking account?
Pinpoint & captial one website
What access do parents or legal guardians have?
Parents or legal guardians can send both automatic allowance and one-time transfers, reward their teen's goals, remove money, view transactions, and receive text alerts and notifications through the Capital One Mobile app. Parents or legal guardians don't receive a debit card.
How can a parent cancel an allowance on a teen account?
By doing it on the app or over the phone.
What does the child need in order to open a Teen Account?
address, dates of birth and Social Security numbers
What access do teens have?
Check their balance, set savings goals, set aside money for spending or saving, deposit checks, set up direct deposit, and get account text alerts and notifications—all through the Capital One Mobile app. They can also use their debit card to grab cash at 70,000+ fee-free ATMs nationwide and make purchases almost anywhere Mastercard® is accepted.
Minors can only transfer between their Money Teen Checking account and Kids Savings Account.
What is the minimum age to open a teen account?
this checking account is for all kids ages 8+
Can you deposit checks with the Money Teen Account?
The adult and teen can deposit checks almost anywhere, anytime with the Capital One Mobile app. Just sign in, choose your MONEY account, snap pics of your check, and deposit—then you’re good to go.
Can you set up a direct despot form from a Money Teen Checking Account.
Yes, you will see an option on the mobile app under account services & setting.
Does the guardian or parent have to have an account with Capital One in order to open a Money teen account?
Nope! You can link any external bank account if you’re not a Capital One customer.
What is set aside & spendable?
The Set Aside and Spendable options teach kids the importance of budgeting their money. With a simple swipe, kids can direct their money into one to the two virtual buckets: money for spending now or money to set aside for late.
If a child spends more than whats in their spendable, the remaining amount will be deducted from their set aside balance.
What is the cash limit for a Money Teen Account under 18, and Over 18.
Under 18, $500. Over 18 $1000.
What is the difference between a 12 year old or younger opening an account, versus and 13 year old or older opening an account.
We require adult customers opening an account with a minor 12 or younger to be the parent or legal guardian of the minor.
If the minor is 13 or older, the adult holder on the account does not have to be the minor’s parent or legal guardian.
What is the money movement experience?
An easy way for parents o send or remove money from their child's account.
During onboarding, parents set a default funding account. They can also link another funding account at any time.
Do all Money Teen Checking Account have access to Zelle?
This feature is not available to all customers. It's only available to 50% of customers.
If the account isn't on pilot, the adult holder wont see the Zelle access.