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May 23, 2012

ING Direct MONEY Teen Checking Account

In conjunction with summertime jobs, ING Direct has unveiled their latest MONEY Teen Checking Account. The MONEY Teen Checking Account is an interest-earning checking account and debit card that parents and teens manage together. The MONEY Account is designed to help teens save and spend their money in a responsible way which will assist them on the road to financial independence.

Your teen can directly deposit their paycheck into their MONEY Teen Checking Account while keeping track of their total savings and spending, and do so either online or with the ING Direct mobile app. There are no fees or minimum balances required and your teen will have access to 35,000 fee-free Allpoint ATMs. With their MasterCard® Debit Card they can make purchases anywhere MasterCard is accepted or skip the swipe and use PayPass™.

Although parents do not receive a debit card with the MONEY Teen Account, parents do have their own customer number and sign in PIN so that they can transfer money, set up an automatic savings plan, and manage account details. Parents can have multiple MONEY accounts (up to 25) for different young adults.

Opening an account is easy and there are only a few eligibility requirements.

  • It has to be a joint account

  • Both owners must be U.S. citizens or permanent residents with a valid Social Security number

  • One owner must be at least 18 years old

To learn more about opening an account, click here.

ING DIRECT is a member of the FDIC (FDIC Certificate Number: 35489) and all savings accounts are insured up to $250,000 per owner. ING DIRECT is a federally chartered savings bank and is headquartered in Wilmington, Delaware. On February 17, 2012, ING DIRECT was officially purchased by Capital One Financial Corporation.


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