Chase First Banking is a checking account for teenagers, not a full bank account for adults

Chase First Banking is a checking account designed for minors aged 13 to 17. It comes with a debit card, online access, and the ability to receive direct deposits. The account is linked to a parent's or guardian's Chase checking account, which means an adult has to open it and oversee it. It is not a savings account, a credit card, or a way to build credit history.

If you are an adult looking for a checking account at Chase, you would open a Chase Total Checking or Chase Sapphire Checking account instead. If you are a parent considering First Banking for your teenager, this guide explains what the account includes, what it costs, and what happens when your child turns 18.

Key Takeaways

  • Chase First Banking requires a parent or guardian to open and maintain a linked Chase checking account in their own name.
  • The account comes with a debit card, online banking, and the ability to set spending limits that the parent controls through the Chase mobile app.
  • There is no monthly fee for Chase First Banking, but the parent's linked account may have fees depending on which Chase checking product they choose.
  • When the teenager turns 18, the First Banking account automatically converts to a standard Chase checking account, and the parent's oversight access ends.

What comes with a Chase First Banking account

Chase First Banking includes a debit card issued in the teenager's name, online banking through Chase.com or the Chase mobile app, and the ability to set up direct deposit. The parent can see all transactions in real time through their own Chase app and can set daily spending limits on the debit card without closing the account.

The account does not include overdraft protection, which means if the teenager tries to spend more than the balance, the transaction will be declined. There is no check-writing capability. The account does not report to credit bureaus, so it does not build or damage the teenager's credit score.

How much Chase First Banking costs

Chase First Banking itself has no monthly maintenance fee. However, the parent's linked Chase checking account may have a monthly fee depending on which account type the parent holds. Chase Total Checking has a $12 monthly fee that can be waived if the account holder maintains a minimum daily balance or sets up direct deposit. Chase Sapphire Checking has a $25 monthly fee with no waiver options.

If the parent already has a Chase checking account that meets their own needs, opening First Banking for their teenager adds no additional cost to that account. If the parent needs to open a new Chase account to link to First Banking, they should compare the fee structures of Chase's checking products before deciding.

How to open Chase First Banking

The parent or guardian must start the process through the Chase mobile app or at a Chase branch. The parent will need to verify their identity and confirm they are the account holder on the linked Chase checking account. The teenager does not need to be present, though some parents prefer to bring them to the branch to sign documents and receive the debit card in person.

The process typically takes a few minutes if done through the app, or about 15 to 20 minutes at a branch. The debit card is usually mailed within 7 to 10 business days. Once the card arrives, the teenager can use it at ATMs, online retailers, and in-store merchants that accept Visa debit cards.

What happens when your teenager turns 18

Chase First Banking automatically converts to a standard Chase checking account on the teenager's 18th birthday. The debit card remains active, and the account number stays the same. The parent's access to the account through the app ends automatically — the now-adult account holder has full control and the parent can no longer see transactions or set spending limits.

The teenager can continue using the account indefinitely, or they can close it and move to a different bank. If they want to keep the Chase account but switch to a different checking product (such as Chase Sapphire Checking for the rewards it offers), they can do that through the Chase app or at a branch.

How Chase First Banking compares to other teen checking accounts

Other banks offer similar teen checking accounts. Bank of America has BankAmericard for Young Adults, which also requires a parent's linked account and has no monthly fee. Capital One 360 offers a Money Account for teens with no monthly fee and no minimum balance. Each has slightly different features around spending limits, parental controls, and what happens at age 18.

The main difference between Chase First Banking and competitors is integration: if your family already uses Chase for banking, the parent can monitor the teenager's account in the same app they use for their own finances. If you are not currently a Chase customer, opening a parent account to link to First Banking means paying attention to the parent account's monthly fee structure.

Frequently Asked Questions

Can my teenager use Chase First Banking to build credit?

No. Chase First Banking does not report to credit bureaus, so it will not build your teenager's credit history. If your goal is to help them start building credit, a secured credit card (which requires a cash deposit and reports to credit bureaus) is a better choice, though it carries more risk if the teenager overspends.

What happens if my teenager overspends and the account goes negative?

Transactions will be declined if there is not enough money in the account. Chase First Banking does not offer overdraft protection, so the account cannot go negative. Your teenager will straightforward be unable to complete the purchase.

Can I close the Chase First Banking account before my teenager turns 18?

Yes. You can close the account at any time through the Chase app or at a branch. Any remaining balance will be returned to you, and the debit card will stop working within a few business days.

Does my teenager need a Social Security number to open Chase First Banking?

Yes. Chase will ask for the teenager's Social Security number as part of the account opening process. This is standard for all U.S. bank accounts.