The first bank account for a teenager


Every high school student dreams of independence. The first bank account is a perfect start, but also a big responsibility. In the end, he begins to decide on his own expenses. This is an important lesson for young people. Having your own account can teach you how to manage money and help you gain basic knowledge about finance – from saving to using banking services. What are the advantages of having such an account? What is the most important thing when choosing a first bank account for a teenager?

Are youth accounts free?

Are youth accounts free?Are youth accounts free?

Banks usually offer various free bills. However, some offers contain records that fees are not charged, e.g. until the customer is 20 years old. At mBank, the monthly fee for maintaining an online account is only collected after the age of 25. He will pay for the debit card only after he is 20 years old. The cost of fees is PLN 4 or PLN 0 if you make a minimum of five non-cash transactions in a month. In this case, the “Account I Want” in BZ WBK may be a better choice. The bank does not charge fees for running it for life, but only orders to pay for the card issued for the account. There are three ways to make a payment:

  • PLN 3 per month, regardless of the amount and number of transactions (without the possibility of exemption),
  • PLN 5 or PLN 0 for spending a minimum of PLN 500 with a card,
  • PLN 5 or PLN 0 after making with a card min. 5 transactions per month.

For this account, the big advantage is the ability to personalize costs. The downside are the mandatory fees for using the card. Usually, to be able to set up a bank account, you should go to a branch with a legal guardian. Sometimes it is also possible to set up an online account. In the case of BZ WBK, this option is available only to adults.

What to look for when creating a first bank account for a teenager?

What to look for when creating a first bank account for a teenager?

Teenagers are rarely employed. They usually only have the opportunity to earn during the holidays. Particular attention should be paid to whether fees are charged for maintaining an account and making online transfers. It is also good to know if it is possible to set up an account without a card.

Cash withdrawals from ATMs are another important aspect. Additional fees are often charged for using ATMs in other financial institutions. It is also often the case that a parent is required to have a bank account to which the child wants to join. This can be a major obstacle and banks are more often chosen where the parent is not required to have an account.

Important Note: Every first bank account for a teenager must be created with the consent of the legal guardian when the child is underage.

Best mobile transactions for a teenager

When choosing a bank, make sure it offers mobile payments. Today’s youth live quickly and actively, and they deal with many issues using mobile devices. In Poland, we can currently pay with a smartphone in three ways.

Check and make sure before you choose

Check and make sure before you choose

Take a look at our financial comparison website, where you’ll find as many as 40 different personal accounts to compare! See offers that will be great as a first bank account for a teenager . Choose the one that will meet your expectations. Remember to check if there are any additional fees for keeping your account!