San Diego-based Axos Bank opened on July 4, 2000, and was originally called Bank of Internet USA, rebranding with the Axos name in 2018. Though it out-pays the national average, funds in this account currently only earn 0.10% APY. Also, while ATM withdrawals are free at over 70,000 ATMs in the Capital One, MoneyPass, and Allpoint networks, withdrawing from other ATMs will trigger fees that will not be reimbursed. First, it is a “debit card only” checking account, meaning it does not offer the ability to order or write checks. There are a few limitations to be aware of on this account. Parents do not have to have a Capital One account of their own linking an external account from another bank is an easy step. The MONEY Teen Checking account is fee-free, no matter how much or little is in the account, and it can be opened, jointly with an adult, by any child at least eight years old. Whether you’re transferring allowance funds or simply monitoring your child’s transactions, Capital One’s mobile app makes it easy for parents to stay on top of their child’s banking, which makes it our top pick for joint parent-child accounts. Opening a joint checking account with your tween or teen is an excellent way to help them learn how to bank wisely, as you track their account activity for teaching money moments. Meanwhile, Ally’s interest rate is provided automatically and is far above the current national average of 0.03% APY. Though some checking accounts pay more, higher rates are often tied to meeting certain transaction requirements each month. As for checks, not only is a printed supply with both account holders’ names provided to you free of charge, Ally will also send you free refills whenever your checkbook runs out.Īlly’s checking account also pays interest on your funds, currently 0.10% APY if your balance is below $15,000 and 0.25% APY above that threshold. There are also no requirements to meet in order to waive fees, which makes couples’ management of the account even easier. What makes Ally’s checking account additionally notable is that it is so seamless, with virtually no bumps in the experience from unexpected fees. Plus, each account holder gets their own login, letting you individually set up your own external transfer accounts, Zelle contacts and payments, and so forth, making it easy for each of you to both view and execute transactions. While there are no brick-and-mortar branches you can visit, customer service is easy to access via a phone call or live chat, available both in the app and via online banking.Īlly’s web and mobile interfaces are among the most user-friendly banking apps in the industry. Opening a joint bank account with Ally is quick and simple and is handled almost entirely online. Reestablished in 2009 as an internet-only bank, Ally also offers savings, money market, and CD accounts, as well as mortgages, auto and personal loans, and investment accounts. It’s hard to beat Ally’s Interest Checking Account, whose ease of couples account management and the ability to avoid almost all fees makes it our all-around winner among joint checking accounts.
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