If you're a USAA member, and already have a bank account with USAA, you might also want to include your child, and help them build smart financial habits with you still being in control of their spending, and account usage. A USAA Youth Spending would be a great way to start, as you'll keep all your accounts with the same bank, and be able to monitor them more easily.
With the USAA Youth Spending, your child will experience first-time banking, with all the tools necessary for them to manage their budget, in addition to a range of security protection features that will ensure your child's information and account are secure 24/7. There are also many online resources available for both you and your child, so that you can learn how to protect yourself, as well as your bank information when accessing your checking account online. This is crucial since your child needs to understand the importance of financial safety, as well as the dangers of cyber crime. Your child needs to be familiar with different types of financial fraud, most of which takes place online, so as to prevent any risk of identity theft or worse.
To that end, you should know that your child's USAA debit card (and you can request one, as well) also comes with a set of debit card protection features, including Zero Liability, so your child will be protected against unauthorized charges. However, if there ever are unauthorized charges on your child's debit card, you need to contact USAA at 800-531-USAA (800-531-8722), the line's available 24/7. But, you can also set up card alerts to monitor its use more closely. You can choose to receive text messages informing you of your child's account balance as well.
Once 13, your child will be able to access and use the USAA Mobile app for some basic banking tasks, such as finding an ATM, checking their balance or making check deposits, if eligible.
Another great thing about the USAA Youth Spending is that you can earn interest if you keep a balance of at least $1,000. This way, your child will also learn about additional banking concepts, such as APR, interest rates, compound interest, etc. They will also see how beneficial a savings account is, which will, in turn, better prepare them for the future, as they will start considering savings at an early age. As they grow and become more financially independent, they will make smarter financial decisions and plans, establish financial goals, and work toward achieving them.
Overall, the USAA Youth Spending might be a great solution for you and your child. Not only is it equipped with fairly good banking tools, but it is also designed with both kids and their parents/legal guardians in mind. With parental supervision, your child will bank more safely, knowing you're there to help them make smart moves, and be more responsible with money. You, on the other hand, will be in control of their spending, and ensure your child builds good financial habits.
Checking account details
- USAA debit cards for teens and parents with zero liability.
- Online and Mobile Banking.
- Interest on balances of $1,000+.
- Access to over 60,000 USAA-preferred ATMs nationwide.
- Free first 10 non-USAA ATM withdrawals.
- Up to $15 in other banks' ATM fees refunded each month.
- Overdraft Protection (when linked to another USAA bank account).
- Advice with USAA.
- Shopping benefits and discounts.
- Savings Booster tools.
- Award-winning customer support, available at 800-531-USAA (8722).
Checking account fees
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Monthly Fee$0
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APY0.01%*
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Minimum Deposit to Open$25
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Out-of-Network ATM Transaction Fee$2
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Out-of-Network ATM Withdrawal Fee$2
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Overdraft Fee$29
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Non-Sufficient Funds Fee$29
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Foreign Transaction Fee1%
USAA Youth Spending Checking Account FAQ
To join USAA, you need to meet a number of eligibility requirements. You need to be:
- a U.S. military service member/veteran, OR
- a precommissioned officer (Contracted Cadet or Midshipman or other), OR
- a spouse of a U.S. military member, OR
- a child of a U.S. military member.
When you access the membership application form, you'll be asked to provide:
- Your date of birth, contact information and Social Security number,
- Details about you or your family member's military service,
- A passport or permanent resident card, if you're not a U.S. resident.
Once you've set up your secure online ID and password, you'll be able to apply for a USAA checking account or other products. USAA membership is free.
You can open a USAA Youth Spending Checking Account if you're a USAA member with a child under the age of 18. Your child alone cannot open a USAA Youth Spending.
Once your child has reached the age of 18, their USAA Youth Spending will automatically convert to a USAA Classic Checking account, with all the features and tools allowing them to bank easily, with no monthly fees. While parental control will be removed, you can still continue to be a joint accountholder if your child needs it.
The USAA Classic Checking Account is a regular checking account that comes with no monthly fees or minimum balance requirements. It's almost the same as the USAA Youth Spending in that it also pays interest on balance of and above $1,000, offers free first 10 non-USAA ATM withdrawals, and up to $15 in other banks' ATM fees refunded each month. The difference between the two is that the USAA Youth Spending has to be opened by a parent or legal guardian and their child, while any adult USAA member can open the USAA Classic Checking.
If you have a USAA Youth Spending, once your child is 18, the USAA Youth Spending will be converted to the USAA Classic Checking, with all parental controls you've set up removed.
You can set up parental controls from your USAA profile to give your child access to the USAA website and the mobile app (which can be done once your child turns 13). You can also choose whether your child can transfer money and make deposits or not, select accounts and statements your child can see online, and set up various text alerts.
With the USAA Mobile App, you can complete many banking tasks, whenever, wherever! You can download and use it to:
- pay bills for free using USAA Pay Bills,
- make mobile deposits using USAA Mobile Deposits,
- send money to anyone with a U.S. bank account using Zelle,
- add your card to a digital wallet using Apple Pay, Google Pay or Samsung Pay,
- quickly and safely check your balance using Quick Balance Widget,
- track your spending and recent transaction activity using USAA Money Manager.
If you're interested in USAA insurance or other services, you should know that you can also use the USAA Mobile App to:
- get an Auto ID card,
- request roadside assistance,
- report claims,
- review accident checklist,
- buy or sell a car,
- access travel deals, online shopping discounts, and home solutions,
- use USAA's real estate services, and more!
Do note that your child will be able to use the USAA Mobile App once 13, not earlier.
Your child will get access to the USAA Mobile app once they've reached the age of 13, not sooner. Once you've given them access to the app, they will be able to use it for basic banking purposes, such as to find an ATM nearby, check they account balance or make check deposits using Deposit@Mobile, if they qualify.
For your child to be able to make mobile check deposits, you, as a parent or guardian must qualify for USAA's Deposit@Home and Deposit@Mobile features. Your eligibility depends on your USAA bank account history, so you'll need to discuss it with a USAA representative.
The USAA Youth Spending Checking Account pays interest on balances of and above $1,000. Currently, an APY of 0.01% applies. Balances below $1,000 won't earn any interest.
USAA routing number is 314074269.
7 Best Checking Accounts for 2023
Featured Checking Accounts
| Bank | Monthly Service Charge | Minimum Deposit to Open | APY |
|---|---|---|---|
| USAA Cashback Rewards Checking Account | $0 | $25 | 0.00% |
| USAA Classic Checking Account | $0 | $25 | 0.01%* |
| USAA Youth Spending Checking Account | $0 | $25 | 0.01%* |
| Bank | Monthly Service Charge | Minimum Deposit to Open | APY |
|---|---|---|---|
| Comerica Bank Rich Rewards® Checking Account | $18 (can be waived / reduced) | $50 | 0.01% |
| Comerica Bank Premier Checking Account | $22 | $50 | 0.01% |
| Comerica Bank Comerica Platinum Circle Checking® | $0 | $50 | 0.10% / 0.25% |
