Does YOUR Teenager Have A Capital One 360 Teen Checking Account?

Every parent desires to bring up their children with an understanding of how to manage finances and even attain financial independence. This is best attained by opening savings accounts that are tailored for children as well as teaching them about money sense. If you have a teenage child, then you will do well to take advantage of the Capital One 360 Teen Checking account that is a great step towards their financial independence. This is because it is an account you and your and your teen manage together.

Benefits That Are Convenient

Moreover, there are a number of benefits associated with this account. First, the Capital One 360 Teen Checking account allows young adults to manage their money on the online platform or through the mobile app. This brings in convenience, as you do not have to physically visit the bank. The second benefit that comes with operating this account is that there is no set minimum amount and no fee charged to operate the account. In addition, the account also attracts Annual Percentage Yields of between 0.20% and 0.85% depending on your account balance. The third benefit is that account holders are issued with a MasterCard Debit card so that you can access money wherever you are whenever you need it. This card can also be used to make purchases wherever it is accepted. Alternatively, you can choose to skip the swipe and instead use the PayPass.

Another benefit that you stand to enjoy from opening a Capital One 360 account is that the bank has a network of 38,000 free ATMs across the nation with the Allpoint network. This means that you are guaranteed of accessing your money from an ATM with ease. With this account, you can be sure to watch your money grow because by depositing paychecks into your account by making Direct Deposit. This account also entitles you to get text alerts whenever a transaction has been made on your account. This important security feature keeps you informed on the operations of your account.

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Earn Bonuses With the Capital One 360 Referral Program

The other amazing product that Capital One 360 offers is the referral program that allows account holders to earn bonuses whenever a friend opens an account. The good news is that there is no limit to the number of referrals that you can make, even though bonuses are limited to 50 people and these amount to $1,000. It is important to note that bonuses are paid for those accounts that are opened and a total of three card purchases or Person2Person payments made within 45 days after the account has been opened. The $50 is awarded only when the new customer is a primary owner and is automatically deposited into your account on the 50^th day. In summary, the Capital One 360 Teen Checking account is an ideal account for your teen as it presents several benefits even as it allows you to make money through its referral program that offers great bonuses. Thus, this is the best gift that you can give to your teen.