Additional information of Money account
Capital One Bank offers the Money account, a banking account with a free debit card and no checkbook that is designed so that teenagers from 8 to 18 years old can manage their money, without paying a monthly fee, without commissions and without having to meet a minimum average balance.
With the free debit card it is possible to pay at any establishment and through the Internet, as well as withdraw cash at any ATM and free of charge at all Capital One ATMs.
The main advantage of this account, besides not having fees, is that it offers a profitability of 0.10% APY from the first dollar and for any amount of money, without having to comply with any requirement and with total availability of the money.
It is one of the best options right now in the North American market in terms of checking accounts for minors. In addition, it is totally online, being able to contract and manage it through the Internet, without the need to go to a branch, although you also have the option to do so.
Parents or legal guardians of the minor account holder will be able to consult all the information related to the movements of the account, as well as operate with it, although they will not receive a debit card linked to it.
Once 18 years of age have been reached, this account can be converted into a 360 checking account, which also does not apply commissions and also makes the balance profitable.
English: Cuenta Money de Capital One