Woman on her phone reading her debit card number

MyCash Checking

Together, we can make your teen money-smart

The teenage years are a time for gaining new skills, greater independence, and more responsibility. Transcend MyCash Checking is the checking account for teens that helps them take big steps toward all three goals. As parents keep a watchful eye, teens learn about money management, get their own debit cards and digital banking access, and begin growing into financially responsible adults. 

  • 100% match on the first $100 deposited
  • Account available to teens ages 13 to 17
  • Teen receives debit card in their name
  • Up to 10 foreign ATM fees (Transcend fee) waived per statement cycle ($2.50 each, maximum of $25)
  • Free unlimited access at all Transcend Credit Union ATMs
  • No monthly service fees
  • Teen gets access to Online and Mobile Banking
  • Parent or guardian is joint owner on the account
  • Parent is able to view transactions and link their account to teen's account

Are checking accounts still useful when people almost never write checks?

While checks are becoming rare and may even seem like an old-fashioned thing to teens, the checking account remains a highly useful financial instrument. Because checking accounts are set up specifically to be fluid, money can move in and out of the account in a wide variety of ways, from direct deposits to ATMs to debit cards, and more. With a growing number of payment apps, moving money from one point to another is more digital than ever. So even if your teen never writes a paper check, having a checking account is still an important money management tool.

Why use a debit card rather than just getting a credit card?

The chief benefit of a debit card over a credit card is that the money you have is the money you can spend. It can be difficult for teens to test out their new financial legs without having some guardrails in place. A debit card offers a way to track spending within your own account, using online or mobile banking. Consider setting limits on the account so that it cannot be overdrawn. While it is annoying to have a purchase denied, it offers a good lesson in spending within your means, an especially valuable one for teens. Jumping into the world of credit cards is potentially a more advanced set of skills, since debt requires understanding payments, terms, and interest. So, sticking with a debit card, with its inherent spending limits, can get your teen off to a good financial start with significantly lower risk.

Empower your teen with a Transcend Credit Union MyCash Checking Account

Don’t wait to get your teen started with a checking account. Open your account online or visit one of our branch locations today.

Transcend MyCash Checking does not earn dividends. No opening deposit or minimum balance required.  1Deposits made within the first 30 days matched up to $100. Matched funds will be deposited the same day your deposit is made and will be deposited to the MyCash Checking account. Only one bonus incentive per teen. ²Fees from the ATM owner/network still apply. Matched amount may be taxable as interest income and reported on IRS Form 1099-INT. Consult your tax advisor. Offer may end at any time. All terms and conditions subject to change without notice. Membership eligibility required. 

young woman looking at a credit card while talking on phone
Personal Checking Accounts

Unique accounts to fit your unique needs.

Transcend Credit Union has a variety of personal checking accounts to accommodate your lifestyle.