Teen Checking Accounts: Three Things To Consider

Your teenager’s first paycheck is a cause for celebration. They’ve found a job, worked hard for their money, and are finally holding the reward in their hands—but what do they do with it now? Most banks are making it difficultto cash third party checks, meaning your teen can’t just sign it over to you, and check cashing stores can charge from 1%–3%of the check’s value for the privilege of giving your child their own money.…