Hey gang, not sure if this is the best sub for this topic but I'm looking for an alternative option to my current set up with Chase. I have a Chase Premiere Checking account, and two kids checking accounts for my teens. My kids can access their individual accounts via Chase app on their phones, I can easily transfer money to/from those accounts, and they each have a debit card for their purchases.
Since I keep a balance below $15K in that main checking account, I gotta pay a $25/mo fee, which seems obscene to me. I don't want $15k of my liquid sitting in that account collecting minimal interest, so I'm looking to move elsewhere.
I know Venmo has teen accounts, Greenlight Financial I keep hearing about as well. I'll be looking into those. Having a physical debit card is not a deal breaker, but I do feel better knowing they having something on them in case their phone dies or gets lost.
Would love to hear what you guys use for your teens! I'm particularly looking for something that doesn't cost much to use while keeping a fairly low balance, and something app friendly and allows for easy transfers.
original posted by Lake_Man1177 to r/personalfinance on Sat, 06 Apr 2024 15:31:54 GMT.