Are you looking for a way to teach your children about money management and financial responsibility? The Chase First Checking account offers a practical solution. Designed for parents and guardians who want to guide their children (ages 6-17) in handling finances, this debit card provides a safe and controlled environment for learning.
To open a Chase First Checking account, the parent or guardian needs to be the account owner and have a Chase online profile along with a qualifying Chase checking account like Chase Total Checking® or Chase Premier Plus CheckingSM. It’s important to note that the benefits associated with these parent checking accounts do not extend to Chase First Checking. This account is specifically designed with parental controls in mind, ensuring that only the parent who opened the account can manage and fund it.
Chase First Checking comes packed with features to help parents guide their children’s spending. Parents can set spending limits, monitor transactions, and receive account alerts to stay informed about their child’s financial activity. Through the Chase Mobile® app, managing the account is convenient and accessible. While Chase doesn’t charge for alerts, standard message and data rates from your provider may apply. Remember that account balances may not always reflect all transactions including recent debit card transactions.
For easy money transfers, Chase First Checking integrates with Zelle®. This allows for quick digital money transfers between trusted individuals. However, Zelle® is intended for payments to people you know and trust, not for purchases from retailers. It’s crucial to understand that neither Zelle® nor Chase offers purchase protection for Zelle® transactions.
As your child approaches adulthood, Chase may recommend transitioning to their own independent account when they turn 18. Chase First Checking serves as a valuable stepping stone, providing a hands-on learning experience in financial literacy under parental guidance.
