Get a $750 Welcome Deposit for eligible new customers who open an 
- Editor Rating
- Rated 4 stars
- Excellent
- Capital One 360 Money Account
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The Capital One 360 Money account is like a regular checking account, but with training wheels. The student controls the bike, but good ol’ mom or dad is nearby and keeping a close eye. This is a Checking account for teenagers only, ages 13 to 17. Once your teenager reaches the ripe old age of 18, he or she can then rollover the Money account into a 360 Checking account.
Being an online-only Checking option, the Money Teen Checking account is available nationwide.
Continue reading for the good, the bad and our impression.
*See the best Student Checking Accounts compared
Current Promotions?
There typically isn’t a sign-up bonus offer available specifically for the Money account, but Capital One 360 tends to have promotions available for the regular consumer Checking, Savings and Money Market accounts. Keep up with all current offers here. While it’s meant for college students, the Chase College CheckingSM account does offer great features and a sign-up bonus.
The Requirements
- No minimum opening deposit
- Ages 13 to 17 are eligible
- Parent co-owner with an active Capital One 360 deposit account
- Must agree to accept electronic delivery of all communications
The Good
No Monthly Maintenance Fee
So you can save money quicker!
No Minimum Balance Required
You can open an account for as little as $1.
Wide ATM Coverage
With access to more than 39,000 fee-free Capital One and Allpoint ATMs.
Convenient Online and Mobile Banking
Get around-the-clock access to your account without getting up!
Transfer Money with Zelle
Send money to friends, family, whoever, even if they don’t bank with Capital One. Zelle® is a revolutionary new service that lets you send and receive money in minutes. Created by the nation’s top banks, Zelle® is the new way to pay.
Overdraft Options
Capital One 360 gives you options and even second chances before hitting you with that loathsome $35 fee. Those options include:
- Auto declining charges when you don’t have enough funds to cover the transaction,
- Linking to a Capital One 360 Savings account to cover the charges,
- Using the one business day grace period to add sufficient funds, or
- Using Capital One’s Overdraft Line of Credit. The bank will cover the overdrawn amount, you just have to pay it back with interest.
Free 1st Set of Checks
Subsequent ones will cost you $5 per checkbook.
Interest Rate of 0.25% APY
Most student checking accounts offer zero interest, so we’re pretty stoked this one gets you an APY of 0.25% with no balance minimum. It isn’t very much, but it’s a good start to get things rolling for your teen.
The Fees
| Usage | Fee | Notes |
| Monthly Maintenance | $0 | |
| Non-Capital One Bank ATM (domestic) | $0 | Plus ATM owner fees, if any. |
| NSF | $0 | Capital One automatically declines NSF transactions, unless you choose otherwise. |
| Overdraft | $35 | Per paid or returned item. |
| Overdraft Protection Transfer | $0 | If enrolled and when applicable, interest charges will apply. |
| Paper Statement | $5 | Per monthly billing cycle. |
| Card Replacement | $25 | For expedited service. |
The Bad
Mostly Online Banking
With less overhead of physical branches, Capital One 360 passes on to their customers benefits like higher interest rates, no monthly fees and better service. If you must speak to a representative in person, there are 27 Capital One 360 “cafes” – a hybrid Peet’s cafe and Capital One 360 bank branch – throughout the United States.
Bottom Line
Capital One 360 Money wows us with their low fees, wide ATM coverage, available interest rate and extremely forgiving nature when it comes to overdrafts. The only “bad” that we can come up with is Capital One 360’s lack of physical branches. But with all the great perks, we’re down to get cozy with online banking and your teenager likely is as well.
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*These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.