Chase has announced the launch of a new checking account called ‘Chase First Banking‘. This is a new checking account designed for kids and teens with no monthly fees. You need to be an existing Chase checking customer to be eligible for this account (e.g a parent with an existing account can open an account on behalf of their child) and it’s available to children six years or older.
Parents are able to set up spending limits and spending alerts for specific categories. For example you could limit your child to spending $15 per month on restaurants. If some of these features seem familiar that’s because Chase used them with the Finn by Chase program that was designed to attract millennial customers but was ultimately discontinued.
