Enjoy a little nature in The Big Easy without leaving home.
Figuring out where to live in New Orleans can be challenging, especially if you have a long list of wants and needs. After finding places with luxurious amenities like an amazing pool or a great city view though, what else is important to you?
In a temperate city like New Orleans, having solid outdoor space should definitely rank high in the features that make an apartment go from good to great. So, as you start your search, check out the on-property courtyards, gardens and other outdoor spots to see if they stack up.
To get your search off on the right foot, these ten apartments have some of the best courtyards and gardens in New Orleans.
Source: Rent. / The Annex
Perfectly framed by lush greenery, the stone-paved courtyard at The Annex is an ideal place for some peace and quiet. Take a seat on one of the benches and enjoy the tranquil noise of the trickling fountain and bask in the separation this space provides from the bustle of the French Quarter – CBD, the center of all the action in New Orleans.
The French Quarter is the oldest neighborhood in the city and the starting point for all the culture and history that makes New Orleans such a vibrant and unique place to call home. There’s a little bit of everything here from museums to shops to tons of bars and restaurants. You’ll get a full dose of laissez les bon tempes rouler when you live here.
Source: Rent. / Mark Twain I
A nice paved path encircles the central garden space at Mark Twain I. With layers of greenery and grass beyond, you definitely get all the park-like feels when you come here to unwind. Manicured flowers, bushes and trees sit dead center here as the perfect natural focal point.
Surrounded by giant oak trees, you’ll find this beautifully landscaped property right on the banks of the Mississippi River. The park-like atmosphere flows through the entire community, creating a quiet retreat with plenty of amenities. There are three pools and three lighted tennis courts in addition to the ample green space.
Source: Rent. / The Colonial Manor Apartments
A great green space sits in the middle of The Colonial Manor Apartments. Close-cropped grass and nicely shaped bushes make for a great courtyard space to use when it’s time to socialize. The inclusion of a gas grill and a few tables makes it easy to entertain all day long out in this open oasis.
This New Orleans community uses its private courtyard as the centerpiece of the quiet lifestyle and neighborly atmosphere you’ll find living here. It’s an inviting space that may keep you close to home, but once you step away from The Colonial Manor Apartments, you’ll find yourself close to a healthy selection of local businesses, restaurants and shops.
Source: Rent. / Clearwater Creek
Get lost in the Zen Garden at Clearwater Creek. You’ll find all the elements for true relaxation right here. A serene path leads you through the lush landscaping along the water. Here, you’ll find multiple fountains to add a little soothing noise to the calming environment. The winding paths will take you over bridges, past gazebos and beside bubbling creeks.
If you crave suburban living but don’t want to be too far from the heart of New Orleans, living in Elmwood may be the right move for you. This mid-size suburb is about nine miles from NOLA, one of Louisiana’s best college towns, with easy access to Tulane University, Loyola University New Orleans and the downtown area of the city. This gives you the best of both worlds, with a quieter spot when needed without sacrificing your proximity to the party.
Source: Rent. / The Esplanade at City Park
A tropical oasis awaits in the courtyard at The Esplanade at City Park. Leafy greens hang over the entire border of this space making it feel nice and lush. A stately fountain sits in the center as a focal point surrounded by rocks. A bricked pathway leads you to the pool area where you’ll find two cool gazebos and even more soaring palms.
For those who need plenty to do outside, living in Mid-City New Orleans is the right choice. You’re across from historic City Park, which not only supplies the city with ample green space but is also home to the New Orleans Botanical Gardens. On-site sports facilities make it easy to stay active and you can also boat on Big Lake. There’s even an amusement park within City Park as well as the New Orleans Museum of Art.
Source: Rent. / The Arts at West Napoleon
It’s more like a combination garden and courtyard at The Arts at West Napoleon. Along the winding paths, you’ll find tall, elegantly gnarled trees and carefully cropped bushes and plants. Set into curved patches, this greenery creates a soothing and picturesque way to get to and from your front door.
Sitting just outside New Orleans in Metairie, you’ll find this community in Suburban Villas. This peaceful neighborhood is close to plenty of parks, shopping, restaurants and entertainment, but you also have easy access to the heart of New Orleans. Only six miles away, you’re never more than a few minutes from all the action.
Source: Rent. / Baywood Apartment Homes
Grab a seat at a picnic table and enjoy an outdoor meal in the perfect green space at Baywood Apartment Homes. Settle into the park-like atmosphere thanks to the tall, flowering trees set between the tables and the abundance of manicured lawn space. This is just one of the courtyard spaces you’ll find here, each of which has an enchanting vibe thanks to the pristine landscaping.
Set within historic Gretna, this is another NOLA suburb that keeps the action close without having to live smack-dab in the middle of it all. Only about five miles from New Orleans, Gretna sits on the west bank of the Mississippi River and is full of stunning sights and charming character. You can visit the oldest volunteer fire company in the entire country or simply stroll through the downtown district to soak in all there is to see.
Source: Rent. / Oak Creek
Pause at this perfect Zen fountain and pool as you walk through the garden at Oak Creek. Full of soothing spots like this, the space offers a nice mix of smooth rocks, oak trees and other greenery. Meandering through the entire community, you’ll find it’s always easy to take a relaxing stroll without wandering far from home.
Ensuring these meditative vibes extend throughout the community, you’ll find lavish landscaping everywhere you look. As you explore, the winding paths, bridges and flowing fountains all add to the ambiance. There’s also a green park, pool and lighted tennis court to enjoy as well.
Source: Rent. / Chateau Napoleon
A quaint and quiet courtyard awaits you at Chateau Napoleon. This is an ideal space to take a moment no matter what time of day it is. Plenty of grassy spots even make it easy to grab a blanket and set up a picnic. Tall trees sit at either end, with benches and a small fountain in the middle. Additional landscaping gives the space even more natural depth.
Another Metairie community, it’s all about outdoor living here. Shaded breezeways take you to your front door or to all the great amenities you’ll find here. Sun-filled courtyards, like this one, provide soothing spaces to give you ample opportunity to soak up the sun. There are also four pools, a tennis court and raised jogging track for those who like to stay active when enjoying the fresh air.
Source: Rent. / Cedarwood Apartments
For those who want a garden where they can actually plant a little something themselves, the raised beds at Cedarwood Apartments are calling your name. Set into a large green space with benches at either end, these gardening spots are waiting to grow your favorite herbs, veggies or flowers.
Another great Gretna community, Cedarwood Apartments prides itself on its peaceful and tranquil vibes. With plenty of open spaces and meticulous landscaping, spending time outside is easy. There are even multiple courtyards in addition to two pools, a picnic area and lighted tennis courts.
Find a great apartment garden in New Orleans
Living in New Orleans provides you with a rich and vibrant life experience you won’t find anywhere else. It truly is its own unique community. But when you’re done going out, seeing the sights and enjoying the people, you need the perfect place to call home.
Finding an apartment that checks all the boxes is essential. As you find listings with great pools, fitness centers and more, remember, this city is known for its natural beauty. You deserve a place that really shines in its outdoor space. Happy hunting.
Featured Image Source: Rent. / The Esplanade at City Park
The internet is a great source of information about personal finance.
But if you want to dig deeper into a money mindset or financial philosophy, there’s still no substitute for a good old-fashioned book. That’s why even successful bloggers and TV personalities also publish books — it gives them an opportunity to flesh out their worldview in a comprehensive, detailed way.
I’ve had something of an obsession with finance books for most of my adult life, and I’ve waded through my share of mediocre writing. Unfortunately, being a finance expert doesn’t make you a good writer, and being a good writer doesn’t mean you know jack about finance.
But when you find a book with a well-articulated and thought-provoking perspective, it can change your life forever. Here are some of my favorite personal finance reads.
What’s Ahead:
Overview: best finance books
Best book for beginners: Get Good with Money by Tiffany Aliche
Tiffany Aliche doesn’t assume any level of financial savvy in this book. It starts at the beginning and goes from there. Get Good with Money teaches simple techniques for getting control of your finances in a way that works for you.
This book lays out the author’s 10-step guide to “financial wholeness.” She describes financial wholeness as all aspects of your life working together for the greatest good.
Grab Get Good with Money here.
Dave Ramsey has been a personal finance legend for decades, starting with the 1997 publication of his book, “Financial Peace.”
If becoming debt-free is your number one goal, then The Total Money Makeover is where you should start. It gives solid step-by-step directions to pay off your debt. Dave Ramsey coined the term “debt snowball” and this method is widely regarded as the most effective way to pay debt off.
Grab The Total Money Makeover.
“The Simple Path to Wealth” is a book about the incredible power of index funds. That sounds about as boring a topic as you could imagine, but it’s surprisingly easy to read.
JL Collins explains how index funds work and why they are a great place to get started when investing in the stock market.
If you are nervous about investing in the stock market this book will soothe your fears. You’ll walk away from this quick and easy read with a solid understanding of how index funds work.
Grab The Simple Path to Wealth.
Author John Bogle is the founder of The Vanguard Group, an investment firm famous for its index funds.
He believed that index funds, which track a specific index like the S&P 500, provide a better return than individual stocks.
This book will give you an in-depth education on stock investing, but be warned that it is not an easy read. However, it’s pretty much required reading for anyone who is serious about investing.
Plus, who better to learn from than the founder of one of the largest investment firms in the world?
Grab The Little Book of Common Sense Investing
Best book for easy money management: The Automatic Millionaire by David Bach
This book takes the adage “pay yourself first” to a whole new level. David encourages you to put your money on autopilot so you can be sure you are saving what you need to save without having to rely on willpower or complicated budgeting systems.
If you are looking for a plan to manage your money with as little effort as possible, while still meeting your goals, this is worth the read.
Grab The Automatic Millionaire.
Best book for spenders: I Will Teach You to be Rich by Ramit Sethi
Along the same lines as David Bach, Ramit is a proponent of setting up automatic systems for your money so you don’t get caught up in the small details.
He also encourages the idea of earning more money rather than paring down spending as a way to build wealth. He despises extreme frugalism and instead encourages you to spend lavishly on the things in life that are important to you while cutting back ruthlessly on the things that are not.
Grab I Will Teach You to be Rich.
Best book for early retirement: Your Money or Your Life by Vicki Robin
Your Money or Your Life is a rallying point for the FIRE (financial independence, retire early) community.
This book will challenge your relationship with money and encourage you to look again at your current lifestyle.
Some critics disagree with the investment advice in the book, so read this book if you are looking to change your relationship with money and consumer culture — and consider getting your investment advice from another book on this list.
Grab Your Money or Your Life.
Best book for simple finances: The One-Page Financial Plan by Carl Richards
Famous for his financial doodles in The New York Times, columnist and financial planner Carl Richards demystifies the financial planning process in his second book.
He says that a great financial plan has nothing to do with what the markets are doing and everything to do with what is most important to you. Pick up this book if you are looking to create a simple, values-based financial plan.
Grab The One Page Financial Plan here.
Best book for 20-somethings: The Millionaire Next Door by Thomas Stanley and William D. Danko
Stanley and Danko analyzed the behavior and habits of millionaires to show how they save, spend, and invest money.
The findings were surprising.
It turns out that people with a net worth of $1 million or more tend to live in middle-class neighborhoods, not in gated communities. It’s a fascinating look at how real people create and keep wealth.
Grab The Millionaire Next Door.
Best book for motivation: Think and Grow Rich by Napoleon Hill
One of the original personal finance books, Think and Grow Rich was published in 1937, in the aftermath of the Great Depression. The book’s lessons are distilled from interviews with the most successful people of the day, including Henry Ford, John D. Rockefeller, and Charles M. Schwab.
Hill takes their lessons and reworks them into bite-size formulas that the everyday layperson can follow. It’s not necessarily solely geared toward making someone financially successful, but successful in all aspects of life. He wants you to chase after your wildest dreams, no matter how crazy they might sound.
Grab Think and Grow Rich.
Summary
Nothing beats an old-fashioned book when it comes to learning about a specific topic, and these 10 books can help you get started on your journey into personal finance.
By Jay Peroni6 Comments – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited March 2, 2013.
What Does The Bible Have To Do With Finances?
The Bible is very clear about how we should handle our finances. God wants to abundantly bless those who obey His Word in this all-important area. Why do you think there are more than twenty-three hundred verses in the Bible about money? Is it a coincidence?
I am convinced that the majority of financial problems facing Americans today are the result of a failure to obey God’s provision of guidelines concerning how He wants us to manage the money He entrusts to us. This failure in turn limits His ability to bless us financially.
As a parent, do you reward your children for foolish behavior or do you sometimes allow them to endure pain so they will learn lessons? God uses money to teach us lessons in life. Jesus spent a considerable amount of time addressing finances in His teaching because He knew that how we handle money reveals our values and priorities.
Do Your Values Reflect The World’s Priorities?
Let me ask you an important question: How do you feel about the moral direction of our country? Are you saddened by any of the items on the following list?
The rising number of abortion clinics and facilities
The increased activity of “pro-abortion” activist groups
The shady, deceptive practices being used by the pornography industry
The number of deaths caused by the tobacco industry
The number of families being torn apart by addictions ranging from alcohol and drugs to gambling
The promotion of homosexuality
If any of these issues deeply sadden you, think of how God must view His creation being destroyed by these issues. It breaks His heart. If Jesus were an investor today, would He place money in any company involved in those areas? Would He choose to start a business of His own that was involved in any of these areas?
The answer to both questions is an emphatic no, but you may be unknowingly profiting from these industries. God has entrusted you with His resources, and it is your duty to be a wise and faithful manager of the assets He has provided you. In order to do this, you will need to follow biblical principles. As a Christian and an investor, it is more important how you make your money than how much money you make.
There is no doubt that sinful activities can be extremely profitable, but if you can invest in a manner that avoids industries that blatantly oppose God’s Word and still make a good profit, why would you choose any other way? Do you think God is more concerned about the amount of money you earn or the manner in which you earn it? How we invest money is a true measure of the values we hold dearly. If we stray from God’s values should we really be surprised when things fall apart?
The World vs. the Word
You may be confused as to how to manage your money simply because you have taken the world’s advice. You may have formed your financial habits from the actions and advice of your parents, friends, school, and the media. How successful has that been for you? For many, the approach is simply not working. Why are so many failing?
When we have an educational system in America that does very little to teach people the basics of financial management, a church that shies away from financial discussions, and an abundance of confusing, contradictory messages from the media and so-called experts, it is no surprise the average Christian is confused about where to turn for advice!
Choosing the world’s way of handling finances over God’s way is a recipe for disaster. Fear and greed are the motivating advice being sold by much of Wall Street. This advice can lead to financial ruin. Many become so confused that they choose to go it alone and rely on the banks to tell them what they can and cannot afford. They may choose to make financial decisions based on the latest advice in Money magazine, on the radio or TV, or their coworkers’ suggestions.
Rather than knowing for themselves where they stand financially, they listen to bad advice. Hosea 4:6 reads, “My people are destroyed for lack of knowledge” (NIV).
The majority of people have no financial plan or have built their plan on the ways of the world. If what we’ve been doing so far it isn’t working, we need to change direction. Change begins with looking at God’s Word.
Biblical Wisdom On Investing
On diversifying: “Give a portion to seven, or even to eight, for you know not what disaster may happen on earth” (Ecclesiastes 11:2 ESV).
On seeking advice: “Without counsel plans fail, but with many advisers they succeed” (Proverbs 15:22 ESV).
On being steady, patient, diligent, and faithful: “The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty” (Proverbs 21:5 ESV); and “A faithful man will abound with blessings, but whoever hastens to be rich will not go unpunished” (Proverbs 28:20 ESV).
On screening your investments: “You must not bring the earnings of a female prostitute or of a male prostitute into the house of the LORD your God to pay any vow, because the LORD your God detests them both” (Deuteronomy 23:18 NIV).
It probably isn’t your first go at searching for life insurance if you are age sixty four and in the market. However, if you have never obtained life insurance, there are a few things that you should keep in mind. Believe it or not, you can still receive a very reasonably priced policy. Even if you’ve purchased life insurance in the past, there could be a lot of things that you’ve forgotten that could impact your search.
As a sixty four year old it is very important to start seriously considering a solid life insurance plan. It is shown that the more you age from this point on, the more likely your rates are to skyrocket. Despite your level of physical well-being, life insurance companies place more risk on this age group.
Though obtaining life insurance at 64 is very feasible, we do recommend starting to seek life insurance coverage at a younger age, even beginning at 50 and seeking life insurance will increase your chance of lower rates, and most likely you are in better health as well. But, if you’re already into your 60’s and looking for a life insurance policy, don’t worry, there are still plenty of options for affordable life insurance that will give you and your loved ones the coverage you need.
Which Life Insurance is Best for a 64 Year Old?
There are different groups of people shopping for life insurance, and every group has different needs. The two main kinds of life insurance are whole life insurance and term life insurance. These two types of insurance vary in some pretty significant ways so it is important to understand the differences before jumping into one type.
Term plans are purchased for a specific set of time. Once the time is up, the plan is useless and it doesn’t give coverage. At that point, you will have to either renew that policy or stop paying premiums on it. These plans are the cheapest choice for coverage.
The other main type is whole life. These plans are effective until you reach the maximum age limit of the particular company. Most companies cap their whole life plans at around 90 or 95 years old. Until that point, you have coverage.
The two plans have different advantages that you have to consider. Everyone is different and wants different things from their insurance policy. Whole life insurance is more expensive, but you should still consider them as options.
Regardless of the type you decide to buy, we always suggest getting the advice of a professional agent who isn’t contracted with one company. Taking this route can end up saving you plenty of time and money. Make sure you research the life insurance agents to make sure you find one that is qualified and with which you get along with well.
The rates that you will qualify for depend largely on your individual health and lifestyle. There are multiple factors that can affect your premium rates that are beyond your control. If you have a pre-existing condition, all hope is not lost. There are plenty of policies that exist that will not break the bank and are still quality life insurance policies. For example, there are some companies that look more favorable towards diabetics or people with cardiovascular complications. Before committing to one particular policy, make sure you research your options that are available to you or seek the advice of a qualified life insurance professional.
The best way to make sure that you get the perfect plan is to compare all of the possible life insurance companies’ options. Each company is different and has a different system for rating applications, even though you’re applying for the same coverage you’ll get very different premium quotes. There are thousands of different companies that you could choose from. Instead of spending hours on the phone talking to agents or researching insurance companies, we can bring those quotes to you.
The longer you wait past the age of sixty four, the higher your premium will end up being. Yes, at the age of sixty-four, you’re going to pay much more than you would have twenty years ago, but continuing to wait is an awful idea. Not only are you premiums going to continue to get higher and higher, but you never know what’s going to happen. Nobody plans to die.
Here are some sample quotes for a $250,000 policy:
Sex
10 Year
20 Year
30 Year
Male
$95.70/month
$129.06/month
$187.44/month
Female
$61.69/month
$82.25/month
$117.48
As you can see, life insurance policies are much more affordable than most people think. You can’t put a price tag on the peace of mind that life insurance brings, but it’s nice to know that your monthly premiums aren’t going to break your bank.
Aside from your age, several other factors are going to impact your monthly premiums. We mentioned that they would look for any pre-existing condition, but they will also look at your overall health. After you finish the paperwork, the insurance company will send out a paramedic to complete a simple medical exam. Unless you buy a no-exam policy, these results can secure lower rates for you, or cause your monthly premiums to go through the roof.
If you want to receive lower monthly rates, you should spend some time improving your health before applying. Take the time to start a healthy diet and a regular exercise program. Anyone that is overweight or obese poses more of a risk to the company, the more of a risk you are, the more they are going to charge you in premiums.
Similarly, if you are a smoker, it’s time to quit the bad habit. Smokers can expect to pay two or three times more than a non-smoker for their life insurance. Want to get affordable rates? Put down the cigarettes.
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Getting Quotes
Not only can our agents help you find the perfect plan for you, but they can answer any questions that you have about life insurance or the different types of policies. We are dedicated to making sure that you make well-informed and educated decisions about your insurance purchases.
Don’t leave your family with debt and no way to pay for it. An affordable life insurance plan can be the perfect tool for you and your family.
The OG payment app has been around since 1998 and still manages to offer an excellent jack-of-all-trades experience. You can send money to friends, handle payments as a business, and even earn 5% back on PayPal purchases through certain rewards cards.
But 24 years is a long time to let competitors catch up. And while none have managed to topple the titan, contenders like Venmo, Wise, Payoneer, Zelle, and Cash App have gained serious ground by offering a better experience for certain users. Some let freelancers get paid with fewer fees. Others let you pay your friends overseas in their currency of choice. And one is perfect for sending payments to people who don’t have any payment apps installed (e.g., your parents or grandparents).
So which payment app is best for what? And most importantly, which is best for you?
Let’s investigate the 10 best alternatives to PayPal.
What’s Ahead:
PayPal alternatives overview
Venmo: Best for paying friends
Wise: Best for international transfers and currency conversions
Google Pay: Best for sending money through Gmail
Payoneer: Best for receiving online payments as a freelancer
Square: Best for receiving in-person payments as a freelancer/small business owner
Stripe: Best for receiving online payments as a small business owner
ProPay: Best for receiving offline payments as a freelancer/small business owner
Zelle: Best for sending money to people who don’t use payment apps
Cash App: Best for converting received payments into hard cash
Apple Pay: Best for sending, receiving, and paying at the register for iPhones and Apple Watches
Venmo
Fees for personal use: 3% credit card processing fee
Fees for business use: 9% merchant fee plus 10 cents per transaction; Venmo tax applies to all transactions marked “goods and services”
Venmo is so widespread these days that “Do you have Venmo?” has become the new “Cash is king.”
Even though Venmo is technically a subsidiary of PayPal, the numbers show that the former is now nearly as popular as its big brother. PayPal handled a total of $330 billion in transactions in 2021, while Venmo handled $230 billion — up a staggering 44% from the previous year.
And there’s a reason why so many people use Venmo as their go-to payment app: it’s simple, safe, and reliable. Transfers are free, payments to friends and family are free, and the app even has a built-in “newsfeed” showing who among your friends is paying whom for what. There was even a time when Venmo showed you the precise amounts they were paying for rent, food, and more, but naturally that TMI feature was retired.
While popular, Venmo isn’t perfect. It takes between one and three days to withdraw your Venmo funds to your bank account, or you can pay a 1% instant transfer fee. Plus, if you use it to invoice clients, there’s no “tip” option on their end — they have to manually initiate a separate payment.
There are also a few default settings I’d strongly recommend you change if you download Venmo.
Settings > PIN code and biometric lock. Set a 4-digit PIN so that if someone borrows or steals your phone, they can’t Venmo themselves the maximum $3,000 (happens more often than you’d think).
Settings > Privacy > Private. Unless you really want your entire friends list to see who you’re paying and for what, I see no reason to broadcast this sensitive data. Turn it off.
Pros and cons aside, Venmo is so popular that someone’s bound to ask you to use it. Luckily, once you succumb to peer pressure, you have a rock-solid PayPal alternative waiting for you.
Get Venmo for iOS or Android.
Wise
Fees for personal use: Sending rates from 0.41%; conversion rates from 0.41%
Fees for business use: Same as personal, plus a $31 account setup fee
There are plenty of apps to help you split the cost of a pizza with your buddies, but what about your international friends? Wise, formerly TransferWise, helps with that. You can send money to consumers in 51 countries, with new currencies added on an ongoing basis.
Wise is custom-built for any international payment or money transfer you want to make. I just have to enter how much I want to send in USD, then choose the currency of the receiving party. Right there, it shows how much I’ll pay for a monthly fee. There are bank fees and Wise fees, but they are minimal.
To send $100 USD to Europe using Wise’s personal account, I’d pay $0.16 in bank/debit card fees, plus a $0.96 Wise fee. Compare that to $5 per transaction fee for a personal international bank transfer with PayPal payments. That alone makes this perhaps the best PayPal alternative around.
Wise business members pay a fixed fee of $1.40 to send money. PayPal, in contrast, charges a 1.50% international business payments fee in addition to the standard fee (2.89% and up).
I’ve only been a Wise payment recipient, so I had to check out how paying someone works. It’s pretty simple – well, as simple as paying internationally ever is. You’ll need the email address, full legal name, and mailing address of the person. You’ll also need the International Bank Account Number (IBAN) of the recipient, as well as the type of account it is and the name and address of that bank.
The business side of Wise has some advanced features, including invoicing and compatibility with Stripe. You’ll also pay a one-time $31 fee to set up your account for international banking.
Get Wise for iOS or Android.
Google Pay
Fees for personal use: 9% credit card processing fee
Fees for business use: 9% merchant fee plus $0.30 per transaction for transactions under $3,000. Rate drops to 2.5% for transactions above $3,000; 2.2% for $10,000+; and 1.9% for $100,000+.
Google Pay allows you to send money from your bank account or GoogleWallet through Gmail for free. Just look for the $ symbol when you’re composing an email and input the amount of money you want to send. If you’re like me, you already do most of your communication through Gmail, so this may boost Google Pay to the top of your list.
Signing up for Google Pay is easy if you use your Google account for most of your business interactions. You just have to download the app and add your phone number. Google automatically pulls in all your frequent contacts.
The interface with Google Pay is not all too different from Venmo’s. You just choose a name from your contacts and input the amount you want to pay. You can also add a note.
One feature I like with Google Pay is that you can easily split payments with friends. Just tap on “Split with Friends” from the Pay screen and choose the friends from your contacts. There’s also a Scan QR Code feature that will make it easy to pay a business that accepts Google Pay.
Speaking of business use, Google Pay has the same weakness Venmo does when it comes to paying vendors. You’ll have to figure out the tip and add it to what you’re paying. But these apps are designed to keep things as simple as possible, so that’s one unfortunate by-product.
Get Google Pay for iOS or Android.
Payoneer
Fees for personal use: N/A
Fees for business use: $0 for payments from other Payoneer customers; 3% credit card processing fee; 1% ACH debit fee; marketplace fees (Network, Fiverr, et al) vary by marketplace; 0% to 1% receiving account fee
Payoneer is an online payment system and peer-to-peer payment solution that allows you to transfer money to anyone anywhere in the world, in addition to making purchases. It provides you with a pre-paid Mastercard that you can use anywhere Mastercard is accepted.
As a freelancer, I’m familiar with Payoneer through sites like Upwork. The service is useful, but if you’re not a freelancer, there are better options. Professionally, what I like about it is that you can send payment requests to clients and they can pay you directly through the app.
Payoneer is another great option for freelancers who are crossing international borders with their work. You’ll pay no fees on the money your clients send to you, and if you send money, there are no fees as long as the recipient is a Payoneer member. Otherwise, you’ll pay 3% for a credit card payment and 1% on ACH transfers.
But, chances are, if you’re using Payoneer, you’ve encountered it on one of the many platforms that use it. Upwork is where I’ve seen it, but it’s also a payment option on Fiverr, Wish, and Airbnb, among many others. If you pay for products and services on sites like that, a Payoneer account for personal use could come in handy, but otherwise, it’s mostly for freelancers and small business owners.
Get Payoneer for iOS or Android.
Square
Fees for personal use: N/A
Fees for business use: First card reader is free; 2.6% credit card processing fee plus $0.10 per transaction; 3.5% plus $0.15 fee for payments that are manually keyed in
Not every in-person business operates in a storefront with a cash register. Square helps with that, equipping small business owners and freelancers with a way to easily swipe a card. The reader attaches to a phone or tablet, allowing you to accept payments anywhere.
I made the mistake of not using Square when I had an in-person event where I needed to accept cards a few years ago. I used the PayPal reader because I figured I already had an account so it would be easier. The swiper didn’t work, so I had to manually enter every single credit card. It was a pain.
For the next event, I ordered a Square reader and never looked back. It works every time, which comes in handy when you have a line of customers holding credit cards. Fees vary from 2.6% + $0.10 for swiped cards to 3.5% + $0.15 for manually keyed transactions, so while it might come in handy to be able to swipe your buddy’s credit card to pay you back for dinner, one of the apps built for personal payments will likely be better for that.
But Square isn’t just for taking in-person payments on the go. You can use it as a one-stop shop for all your business’s sales. You can send invoices directly from the dashboard, set up gift cards that you sell directly through their site, and even take sales on your website using their platform.
What I like about Square, though, is that you can see, at a glance, your total daily sales. If you’re regularly collecting money from customers — in person or online — having this easy access to your progress comes in handy.
Is it for personal use? Not really. You could swipe your friends’ cards using the reader, but the fees will cut into whatever you’re taking.
Get Square for iOS or Android.
Stripe
Fees for personal use: N/A
Fees for business use: First card reader is $59; 2.9% credit card processing fee plus $0.30 per transaction; 3.4% plus $0.30 fee for payments that are manually keyed in; 0.8% fee for ACH transfers
Another option geared toward the needs of small businesses is Stripe. The payment platform can be integrated with your online store or used separately by directing customers to pay you there.
Stripe is for business. You could use it to send money to friends, but the fees make it cost-prohibitive. Fees start at 2.9% + $0.30 for each successful card charge. You can also accept international transactions, with an additional 1% fee added to each transaction.
Compared to its direct competitor Square, Stripe has higher fees but better tools for online integration. If you’re swiping customer credit cards in-person, use Square. If you accept most payments online and want to offer options like recurring billing and subscriptions, use Stripe.
I’ve used Stripe to accept payments from clients, and I loved the easy sign-up process. They do require identity verification, but all I had to do was snap a photo of my driver’s license and set up two-factor authentication to start accepting payments.
What I like most about Stripe is the dashboard. When you log in, you can see, at a glance, how much you’ve made today, as well as your financial activity over the past seven days. You can also see any disputes customers have filed on previous charges.
Yes, you can send invoices using Stripe, and that’s how I get paid for what I do. But where Stripe really shines is in its API. You can easily add Stripe to your website to start taking payments, and, in fact, if you use one of the top web hosting services, you probably see Stripe as an option when you’re setting up your e-commerce store.
Stripe also has terminals and mobile payment options. You don’t need a card reader to accept in-person payments — simply hold the card in front of your phone and the camera will capture the information you need. If you regularly take payments on the go, it’s worth considering.
Get Stripe for iOS or Android.
ProPay
Fees for personal use: N/A
Fees for business use: $39.95 signup fee; $39.95 annual renewal fee; 2.60% credit card processing fee; 3.55% fee for payments that are manually keyed in; $0.35 bank transfer fee
ProPay offers payment processing tools for businesses of all kinds. Whether your business is small, on the road, or global, they can work with you.
ProPay is for the business that’s serious about accepting payments on the go. You can swipe cards using the ProPay JAK™ card reader. If you aren’t near your card reader, you can manually input the information. You can also opt to securely save a customer’s payment information to make things go more quickly the next time they buy from you.
One thing I love about ProPay is that it works even if you are offline. I’ve sold items at libraries, book fairs, craft fairs, and even in the parking lot after an event. You aren’t guaranteed to have Wi-Fi or even cellular connectivity at all times, and this app comes in handy for that. The transaction is logged the next time you go online.
For personal payments, this is another app that won’t really help you much. But if you’re a freelancer or work in direct marketing, this is a great app for processing payments.
As for fees, they depend on the type of card being used and the account you have. Rates start at 2.40% for swiped transactions. The complete rate chart is posted here.
Get ProPay for iOS or Android.
Zelle
Fees for personal use: None
Fees for business use: None (though there are no business-specific features)
You may already know Zelle as “the payment app my bank wants me to use.”
That’s because while competitors like PayPal and Vemno were marketing themselves to businesses and individuals respectively, Zelle was chatting up the banks. As a result of all that relationship-building, Zelle now interfaces with over 1,000 banks and banking apps worldwide, making it extremely easy to send and receive money directly through your banking dashboard.
The other benefit of using Zelle is it makes it way easier to send money to people who don’t use payment apps at all. For example, let’s say I wanted to send $200 to my grandparents to help them pay for a new fridge. If I said to them, “Do you have Venmo or Cash App?” they’d probably look at me like I was speaking a foreign language.
I don’t want to stress them out with the prospect of downloading an app (or buying a smartphone), so I’ll just send it via Zelle. They’ll receive an email from Zelle that shows them step-by-step instructions on how to enroll and put the money in their account, no apps required.
The other benefit to Zelle is simplicity. You simply send and receive money with no fees ever. That’s it. There are no newsfeeds, social features, nada. And frankly, the only reason I don’t recommend Zelle over Venmo is because the latter is just more recognizable.
Get Zelle for iOS or Android.
Cash App
Fees for personal use: 3% credit card processing fee; 0.5% to 1.75% instant transfer fee ($0.25 minimum); $2 ATM withdrawal fee with Cash Card
Fees for business use: 2.75% transaction fee
Like Venmo, Cash App is another one of those payment apps that everyone’s heard of, and everyone uses. It’s extremely simple, with a no-frills dashboard and no fees for personal use, and for better or worse it lacks the social features of Venmo.
At first glance, Cash App seems to be the Paris Hilton of payment apps: popular just because it’s popular. There’s no option to tip contractors, not much to appeal to business owners, and until you verify your personal information, you’re capped at sending $1,000 every 30 days.
Pretty soon, Cash App’s initial value proposition — barebones simplicity — may start to feel limiting when you see competitors offering compelling features like bank dashboard integration, currency conversions, and free credit card readers.
Thankfully, Cash App starts making way more sense when you learn about the Cash Card. The Cash Card is a debit card linked to your Cash App balance that lets you withdraw your funds from any ATM for a $2 fee.
That’s a big deal for folks who want their cash instantly, since the alternative is to:
Initiate an instant transfer for a fee ranging from 1% to 3%
Find an in-network ATM, or pay out-of-network ATM fees of ~2.5%
Let’s say you receive a $300 payment and want to convert it into cash. With Cash App, the total fee would be $2 or 0.67%. With another app, you could pay up to 5.5% or $18.33 in fees alone, plus having to wait up to 30 minutes for the “instant” transfer to your bank account.
True to its name, Cash App is the best payment app for converting received payments you receive into cold, hard cash.
Get Cash App for iOS or Android.
Apple Pay
Fees for personal use: 5% instant transfer fee (min. $0.25, max $15)
Fees for business use: No additional fees for merchants (though standard credit card issuer fees may apply)
Apple Pay offers more than just another way to send and receive money from friends. The app will also let you securely store all your credit and debit cards in a neat-looking virtual stack. Then, when you reach the register, you can just pull up the card you want to use, hover your phone near the payment terminal, and wait for payment to clear. No need to fiddle with your wallet or let your card out of your sight!
Apple Pay also works with Apple Watch, so you can simply pull up your card there and hold your wrist over the payment terminal until payment clears, signaled by a gentle tap from your watch.
For online stores and in-app purchases, you’ve probably noticed that Apple Pay isn’t quite as widely accepted as PayPal, but it’s getting there. Apple boasts that as of late 2022, over 85% of U.S.-based retailers accept Apple Pay — even vending machines and taxis.
As you might expect, Apple Pay is a perk reserved for iOS users only. In fact, it’s one of the apps that comes factory-installed on Apple devices. At least Android users like me still get Google Pay.
Get Apple Pay for iOS.
Benefits of online payment apps
First, it can help to take a look at the overall features of online payment apps. Online payment apps make it easy for a business of any size to collect money from customers. Peer-to-peer payment apps make it easy to transfer money to your friends.
Here are some benefits to consider:
Easily pay friends and family members
Transfer funds from your bank account to someone else’s with a few clicks
Set up recurring payments to friends or family members
Avoid carrying cash around with you
Skip the trip to the ATM before you go out with friends
Accept secure payments for products or services on your small business website
Set up a Point Of Sale system in a brick-and-mortar business using a tablet
Accept payments on the go using a card swiper
Provide an alternative to personal checks, which can be risky
Some of these won’t appeal to you, while others will. By looking through all the various features that are available, you can start to narrow down what you’re looking for in a payment app.
Features to look for in a payment app
As you’re researching payment apps, there are some features to consider. You may not even realize you can do some of these things using a payment app until you see one offering it.
Fees. Of course, we’d all love for everything to be fee free, but we know there’s a cost associated with some financial transactions. I look for an app that at least has a “friends” option, letting me send money without fees to people I know personally. Often you’ll have to link up a checking account to do this, though, as credit card-based transfers will typically incur a fee.
Social feeds. This isn’t something I look for, but with peer-to-peer payments, some find social updates valuable. When you pay your buddy for your half of those summer concert tickets, this lets all your other friends know about it.
Security. Yes, the verification process can be a pain with some of these apps, but I like it. It means that the platform takes security very seriously, which boosts my confidence that my financial data is safe with them.
Send to email. Some peer-to-peer payment platforms let you send email to someone else using an email address or information from your contacts list. You can even send money within some email and messenger apps with just a tap on the screen. I found this comes in handy when you’re interacting with someone about upcoming plans. You can submit your share of the funds within the same message string to make sure the other person sees it.
All-in-one functionality. Some apps combine the best of peer-to-peer and online payments, letting you pay using the same app. You’ll need to identify which businesses accept payment that way, but it can be a handy way to manage your budget.
Expand payment options. Businesses face the ongoing issue of keeping things as convenient as possible for customers. The more payment options you can offer, the less likely you’ll lose customers who are limited in how they can pay.
International payments. The internet has opened businesses up to reach out to an international customer base. Being able to accept payments across multiple currencies with minimal fees is a huge bonus if you want to go global.
If your business uses financial software, check for integrations. Being able to import information about your transactions can help you stay on top of things while reducing your own workload.
Summary
The beauty of payment apps is that you don’t have to choose just one. You can have a half dozen installed on your phone, so long as you protect yourself with extra layers of security like PIN codes and biometric logins.
And knowing which payment app to use in which scenarios can save you time, stress, and hundreds on fees.
Last year, I wrote a breakup letter to Chase Bank. It was pretty ugly. I’ll save you the heartbreaking details, but trust me, they had it coming.
Closing the account was another nightmare. They wouldn’t let me break up with them! They told me I couldn’t close the account because my signature on the request form did not match the signature they had on file. An understandable concern, but I’d been signing my name as either a squiggly line or “The Hawk,” for the past few years, so I don’t really understand why my signature had suddenly become so important.
It took months. But my account was finally closed, and I’ve been recovering nicely since the breakup. I’m in a new relationship with a financial institution that I can trust, depend on and, most importantly, I rarely have to call for anything.
Before and since then, I’ve had plenty of other issues with banks, organizations and institutions. There was the $2.00 fee some ATM company charged me even though their machine was broken. There was the totally disputable $100 traffic ticket. And the list goes on, as I’m sure it does for you, too.
These issues cost us more than the charge itself. They cost us time, sanity and, oftentimes, grace (Chase’s customer service really brought out the worst in me).
The other day, I was on the phone, on hold, about that aforementioned $2.00 ATM fee. While listening to ABBA’s “Dancing Queen,” I took the phone away from my ear to see how long I’d been waiting. Twenty minutes.
I hung up. I felt myself getting frustrated, and I let it go. Maybe this wasn’t the most frugal thing to do, but then again, maybe it was — after all, your time is valuable, too. And in that moment, I decided that my time was worth more than $2.00.
My point is this — and it’s not exactly a point, really, but a question: Where do you draw the line? How much of a fight do you put up before you decide that the customer service battle is just not worth it?
Financial justice vs. letting it go
Regarding those two dollars, my mom would have probably told me to stay on the phone. “It’s the principle,” she would likely say. But I wonder if that principle has any place in getting rich slowly. The mind-set of working to get what is owed to you certainly has its roots in frugality, but if your time and sanity are valuable, then isn’t wasting it on two dollars sort of defeating the purpose of frugality?
Here’s my measuring stick. While the principle is important (who wants any amount of money unjustly taken from them?), for me, it can’t just be about the principle. If I’m going to spend my time calling customer service, I have to be getting something out of it other than the satisfaction that I’ve put the company in its place. With the ATM fee, the problem was a broken machine. I’d inserted my card, stared at a blank screen, and then removed the card without conducting a transaction. But their system charged me anyway. This probably didn’t usually happen, and I don’t think the company was trying to pull one over on me. Personally, it wasn’t worth my time to spend upwards of 20 minutes on the phone; I would just avoid using ATMs in the future, being especially aware of the “glitches” of this particular company.
Chase, on the other hand, was a different story. I genuinely believe they needed to be put in their place, and while I broke up with them for my own sanity, I did relish the fact that I was justly serving “the principle.” I could have left the account open and just never used it, but it was worth my time to never worry about any issues with them again and let them know why they had driven me to that point. After spending months arguing with them over some fraud charges, I figured I was already invested in this argument, so I was past the point of no return. It was worth it to go a bit further and end things altogether.
Putting up a fight…or not
It’s bad enough when dealing with customer service problems that you have to spend your free (or sometimes work) time correcting someone else’s error. But, man, these institutions can really drain the life out of you. It’s easy to get mad when some company is charging you an unfounded $100 “processing fee” (sadly, a true story), but the last thing you want to get is emotional. As the saying goes, you attract more flies with honey, and you want to spend as little time arguing your point with customer service as possible. If you find yourself getting heated, annoyed, or you begin to raise your voice, I’ve found that the best thing to do is to hang up and deal with it later. Being relentless is one thing, and it’s sometimes necessary when you need to talk to a supervisor, but you’ve already lost your money and time — don’t lose your cool while you’re at it.
Avoid it in the first place
Going back to the Chase example, I could have avoided that headache altogether. I joined Chase because a friend of mine used them and told me she had racked up enough points to earn a free flight. “Wowee! A free flight,” I thought. I was young, OK? I didn’t know better. And a lot of my friends had Chase, so I figured, Chase must be great. I didn’t read any reviews, didn’t consider my longstanding relationship with my current bank — I switched banks that week, dreaming about my flight to, oh, I don’t know, the Bahamas or something.
You know how the story ends, and no, there was no free flight. The point is, I could have avoided that entire headache by doing some research and not being impulsive.
Some fee issues we can’t help; others we have control over, if only negative qualities like procrastination and impulse wouldn’t rear their ugly heads.
Dealing with customer service issues is probably a constant in most of our lives. It’s simply something we have to live with. But how we deal with it is a matter of contention. So now, I ask: Where do you draw the line in dealing with customer service? How much time do you spend righting financial wrongs, and how does your frugal mindset affect your behavior in those situations?
Opening a bank account for your teen is a great way to begin teaching financial responsibility and money management. If your teen’s account is linked to yours, it’s also a convenient way to pay them an allowance, reward them for good grades, or even transfer money for pizza when your teen is out with friends.
It’s no wonder a recent Fidelity study reported that 49% of teens in the U.S. have opened bank accounts. But which checking account is best? And what should you look for in checking accounts for teens?
10 Best Teen Checking Accounts
While there are many options available for teen checking accounts, parents frequently choose to establish accounts for their teens at their own primary banking institutions. This list includes many top national banks.
Their inclusion isn’t necessarily due to their teen checking accounts offering the highest interest rates or the most features. Instead, their comprehensive services for adults and strong reputations make them a viable consideration.
1. Copper Card
Copper Bank, Member FDIC, is a federally insured online bank dedicated to helping kids and teens learn how to manage money. Copper Bank has invested more than $1 million in high school financial literacy and the app helps teach kids the basics of investing.
Copper accounts are available to kids ages 6 and up, as long as they have their own mobile phone number separate from the adult account holder. Children and teens receive a Copper Spending Account debit card that is compatible with Google Pay and Apple Pay. Users can also use the debit card for fee-free transactions at 55,000+ ATMs nationwide.
Copper offers a ton of enticing features parents and teens will love. First, there are no overdraft fees, no minimum balance, or maintenance fees. Parents will pay a small fee of 2.5% + 30 cents of the total transaction for an “instant transfer” from a linked debit card. Otherwise, it can take 3 to 5 business days for funds to arrive in the Copper account.
Copper makes banking convenient for parents and rewarding for kids. Parents can set up automatic transfers for allowance, or can even transfer money automatically when the Copper account drops below a specific number.
Copper lets kids round-up their debit card transactions to be automatically transferred into their linked savings account. Users can set specific savings goals and earn interest with up to 5% annual percentage yield. This can motivate kids to save as they watch their money grow.
Copper also allows kids and teens to invest, starting with as little as $1. Investing is automated based on your child’s risk profile, and Copper even reinvests dividends and uses dollar-cost averaging to set your child up for investment success and good habits for life.
2. USAA Youth Spending Account
USAA offers a joint account that a parent or legal guardian can open with a child of any age. The USAA Youth Spending Account includes a debit card that allows the adult account holder to increase or decrease daily spending limits. Children can use their card at point-of-sale transactions and without fees at any of 100,000 preferred ATMs in the USAA network.
Once the child turns 13, you can use the mobile app to give them the ability to transfer money, make remote deposits, and more.
When your child turns 18, the USAA Youth Spending Account will be converted automatically to a USAA Classic Checking account. You can choose to stay on as a joint account holder to help your teen manage their money while they are away at college or in the military.
The USAA Classic Checking account has no monthly fee for college students or members of the military.
There are a few things to be aware of before you open the banking account:
USAA is available only to veterans, active duty military, national guard, reservists, military spouses and others who meet a few criteria related to the U.S. Armed Forces
The USAA Youth Spending Account requires a $25 minimum opening deposit
Your child will earn .01% annual percentage yield if they maintain a daily balance of $1,000 or more
3. PNC Bank Student Banking
PNC Bank offers a VirtualWallet student account for teens and young adults ages 16 and up. Teens under 18 will need to open a joint account with a parent or legal guardian. College students may have to show proof of enrollment. After six years, the student account becomes a regular PNC Bank Virtual Wallet account, with all the same features and benefits.
The Virtual Wallet account includes a “Spend” primary checking account, a “Reserve” savings for short-term savings and a “Growth” account for long-term savings for big ticket items or to build up emergency cash reserves.
The Virtual Wallet has no monthly service fees for students and includes fee-free ATM withdrawals at PNC Bank ATMs. Teens and adults, alike, receive ATM rebates for the first two non-PNC bank ATM withdrawals and up to $5 in ATM fee reimbursements per statement period for ATM surcharges collected by other financial institutions.
Unlike some student bank accounts, which decline transactions that would put your account in the negative, the PNC Bank Virtual Wallet offers one automatic courtesy refund of Overdraft item fees per month. However, the Virtual Wallet’s Low Cash Mode makes it easy to avoid overdrafts with alerts that tell you when your spending balance drops below a certain point.
You can also use Payment Control to choose to pay or return certain ACH transactions if your account balance is negative.
4. Wells Fargo Clear Access
Wells Fargo Clear Access is designed for teens ages 13 and up, as well as previously underbanked or unbanked customers. It’s considered a “second chance” bank account, but the lack of overdraft charges and no monthly fees also makes it great for teens just learning financial responsibility.
Be aware that children under 18 cannot open an account online. They must open the bank account at one of the 4,800 Wells Fargo branch locations nationwide.
Clear Access has no monthly fee for account holders ages 13 to 24. Teens 16 and under will need a joint account holder who is over the age of 18.
Wells Fargo Clear Access was certified by the Bank on National Account Standards as meeting the requirements for safe and affordable bank accounts with no overdraft fees. A straightforward account with few bells and whistles, the account includes access to the user-friendly Wells Fargo mobile banking app and mobile check deposits. You also get Zelle person-to-person payments and a debit card compatible with digital wallets like Google Pay.
There are no overdraft fees with Clear Access, but transactions that would bring your account into the negative are likely to be declined. There is no minimum balance requirement, but you’ll need a $25 minimum opening deposit.
5. Chase First Banking Account
The Chase First Checking Account is available to kids ages 6 to 17 and has no monthly fees. To open an account for your teen or tween, you must have a qualifying Chase checking account, such as Chase Total Checking.
It’s easy to open an account online and make transfers from your account to the Chase First Banking account in the mobile app. You can set up automatic recurring transfers for allowance or approve requests from your child for money.
Set a spending limit for general spending or for specific purposes. You can even create a list of approved stores where your child can shop with their debit card. For existing Chase customers, Chase First is one of the smartest choices for a teen checking account due to the convenience and easy parental controls.
6. Capital One MONEY Teen Checking Account
The Capital One MONEY Teen checking account is one of the most popular checking accounts for kids. You don’t need a Capital One account to open a MONEY account with your kids, as the account can accept external transfers.
The account is available for kids ages 8 and up. Once the teen turns 18, they can convert it to a Capital One 360 Checking Account of their own with no monthly fee.
Unlike Chase, Capital One MONEY Teen pays interest on checking account balances. It’s only 0.10% annual percentage yield, but it is enough to begin teaching kids the value of compounding interest. Capital One’s teen product has no monthly service fee, no minimum balance requirement, and no minimum opening deposit.
Through the mobile app, kids and teens can set savings goals, designate funds in “savings buckets” or for spending with their Capital One Mastercard debit card, and make withdrawals at any Capital One or AllPoint ATMs with no fees.
Parents can make automatic transfers for allowance, set up one-time transfers, and even pay kids rewards if they meet specific savings goals. You can track spending and view transactions in the mobile app or set up text alerts.
7. Bank of America Advantage SafeBalance
Unlike the other three largest national banks in the U.S., Bank of America does not have a dedicated teen checking account. However, Bank of America customers can open a joint account with their child who is age 13 or older and give them access to their own debit card.
Bank of America recommends the Advantage SafeBalance bank account for teens and college students under 25. There is no monthly fee on the account if one of the account holders is under 18, or under the age of 25 and a student, or if any of the account holders are members of Bank of America Preferred Rewards.
A straightforward, checkless account, BofA calls SafeBalance “a smart start for students.” Kids ages 16 and up can be sole owners of the account, but you might choose to be a joint account holder for convenience.
The SafeBalance account doesn’t have a lot of bells and whistles, but it is a great way to get your child set for the future with an account at a nationwide, reputable bank with 4,000 branch locations nationwide.
8. Axos Bank First Checking
Axos Bank First Checking offers a checking account where you can earn interest. It pays a 0.10% annual percentage yield on all balances. It is available for teens ages 13 to 17, with an adult account holder.
Axos First Checking boasts no monthly maintenance fee, no overdraft fee, and reimburses up to $12 per month in out-of-network ATM surcharges.
Be aware that your child can only make $500 in debit card purchases per day and can only withdraw up to $100 per day at ATMs.
Axos Bank is consistently rated one of the best for online banking by top personal finance websites. The First Checking account is a straightforward way to teach teens financial independence and the ease of online banking.
9. Connexus Credit Union Teen Checking Account
Connexus is a top-rated credit union that’s easy to join with a one-time donation to become a member of the Connexus Association. The Connexus Credit Union Teen Checking account offers up to 2.0% annual percentage yield with zero monthly service fees, free ATM transactions within the Co-Op or MoneyPass networks, and overdraft protection with linked accounts.
Kids ages 10 to 17 can open a teen checking account to earn a high APY. When they turn 18, the credit union will transition their teen account into a Connexus Innovative Checking account with no monthly fees.
Young adults can choose to convert the account into an Xtraordinary checking account through the credit union to earn interest. The Xtraordinary account offers up to 1.75% APY when you make 15 debit card purchases or spend $400 with your debit card.
10. Alliant Credit Union Teen Checking
Alliant Credit Union has won awards from top personal finance sites as one of the best credit unions in the country. With no monthly service fees and no overdraft fee, it’s a straightforward account that will introduce teens to the personalized service of credit unions.
Teens can earn interest with a rate of 0.25% APY on their checking account balance. Keep in mind, to earn that high yield, they will need to opt in to receive eStatements and make at least one electronic deposit per month.
As with a regular Alliant credit union account, your teen will receive up to $20 in ATM fee reimbursements per month, and pay no fees at 80,000+ ATMs nationwide.
Alliant Credit Union Teen Checking is one of the few teen checking accounts that provides overdraft protection. If you sign up with a linked savings account, Alliant Credit Union Teen checking will automatically transfer funds from savings to cover debit card purchases.
You will need a $25 minimum deposit to open an account with your teen, ages 13 to 17.
Prepaid Debit Cards for Kids
If you feel your child or teen isn’t ready for a checking account, you might consider a prepaid debit card for kids, instead. Products like Greenlight, Cash App, Revolut<18 are not your typical banking account, but are prepaid debit cards that provide kids with easy access to money.
1. Greenlight
Greenlight is one of the original names in pre-paid debit cards for kids and teens. Greenlight offers three different plans with the following monthly service fees.
Greenlight Core: $4.99/month
Greenlight Max: $9.98/month
Greenlight Infinity/$14.98/month
Each plan includes debit cards for up to five children or teens, access to the app, and parental controls. After that, these plans vary somewhat in their offerings.
The Core plan pays 1% interest. Greenlight Max pays 1% cash back on your child’s debit card purchases, deposited automatically into their savings account to earn 2% interest.
Greenlight Infinity also pays 1% cash back on purchases. It pays 5% APY on savings. But Greenlight Infinity is much more than just a debit card or money account. It’s also a family safety and protection app that provides the ability to send and receive SOS alerts, crash detection that automatically alerts 911 in the event of a car crash, and family location sharing.
Greenlight has vast capabilities for money management, including the ability to set limits on spending, reward kids with deposits for chores or accomplishments such as high grades, and pay a monthly allowance.
Kids can create a customized card, as well, which often appeals to teens.
2. Cash Card
Cash App is the popular person to person payment app that comes with a debit card you can use for online or in-store purchases. Now, everyone age 13 and up can gain access to a customized Cash Card of their own.
Cash Card is an easy-to-use card that allows you to send and receive money from external accounts or from friends and family who also use Cash App. You can use Boosts in Cash app to find savings on everyday items from popular stores. Boosts are a great way to teach kids how to save money while shopping.
There is no minimum deposit to open a Cash App account.
3. Revolut
Revolut has no monthly service fee and links to an external account or your Revolut online bank account. You can set spending limits and receive alerts when your child uses their debit card.
You can also assign “tasks” to your kids and set up instant transfers from your account when the task is complete. You can also set up automatically allowance payments, or create a list of chores and put money directly on your teen’s debit card when that chore is done.
Features to Consider for Opening a Teen Checking Account
The features you’ll find in the best free checking accounts for adults should also apply to teen checking accounts. Most of the best teen checking accounts on our list meet the following requirements.
No Monthly Maintenance Fees
You don’t want to pay money so your teen can learn about managing money. Teach your teen early on that some of the best things in life – including their checking account – can be free.
Low Minimum Balance Requirements
Look for an account with no minimum opening deposit and no minimum balance requirements. Fortunately, even banks that have minimum balance requirements to waive fees for other checking accounts typically have no requirements for free checking for teens.
Low or No Fees
Make sure there are no ATM fees, no overdraft fees, and no hidden fees for any reason. Most teen checking accounts will decline a purchase rather than put the account into overdraft, which can help teens build financial responsibility and learn money management.
Linked Savings Accounts
When you’re evaluating a teen checking account, you may also want to look for a linked savings account with savings buckets, so your teen can set goals and plan for future purchases. Compare interest rates on teen accounts, discuss the other features and benefits, and enroll your teen in making the choice with you.
Parental Controls
You should be able to lock and unlock your teen’s checking account within the mobile app, set spending limits, and even designate certain funds to be used only for specific purposes.
Online Banking Through a Desktop Portal or Mobile App
Teens today are tech savvy. Fortunately, most teen bank accounts – even those from brick and mortar banks and credit unions – include an easy to use mobile app with separate logins for teens and their parents.
Direct Deposit
Features like direct deposit may not be as important, unless your teen is working and wants their paychecks deposited into their account. Most of the bank accounts on this list, however, do offer the service. Some even deposit funds up to two days earlier than usual.
It’s a nice bonus when teen checking accounts can be converted into a regular checking account once your child reaches adulthood.
Pros and Cons of Bank Accounts for Teens
As you evaluate the features of these teen checking accounts, you might wonder if it’s even worthwhile to open a checking account for your teen. Opening a bank account for your teen can help them develop good personal finance habits early on.
Let’s consider other benefits and drawbacks of checking accounts for teens.
Pros
Conveniently transfer money from your linked account, wherever you are
Teach children and teens about saving and investing
Teach the basics of using a mobile banking app
Build financial responsibility
Money is protected by the Federal Deposit Insurance Corporation up to $500,000 for joint accounts
Cons
Teens unfamiliar with budgeting may spend more with a debit card handy
Some financial institutions charge fees
Your teen may lose their debit card, creating a security risk
You may need to make a minimum deposit to open the account
When all is said and done, the benefits of teen checking accounts far outweigh any inconveniences. Just make sure to choose a banking account with no minimum deposit requirements or monthly service fee at a bank or credit union that offers responsive customer service.
Also, make sure you can keep tabs on your teen’s spending through alerts or a mobile app.
How to Choose a Teen Checking Account
Now that we’ve explored some of the best checking accounts for teens, you may have already made your choice. If not, here are some aspects to think about when choosing the best checking account or prepaid spending account for your tween, teen, or college student.
Choose the Type of Teen Account You Want (Checking Account vs. Savings Account)
First, think about whether you want a prepaid debit card, a checking account, a savings account, or both. Do you want to choose a money account from a bank or credit union? Would you prefer to open the account at a brick and mortar bank or are you and your teens comfortable banking online only?
The answers to these questions should give you a good place to start.
Consider the fee menu (monthly service fees, recurring transactions, ATM withdrawals, card reload, etc.)
It shouldn’t cost money to teach your teen money management. Consider any fees related to the account. Similarly, you might prefer a bank or credit union with no minimum deposit to open an account.
Some of the best teen checking accounts pay interest, which is a great incentive to help your teen start saving money and to put a little extra money in their pocket.
Consider the Age and Responsibility Level of your Teen
Most of the best teen checking accounts feature alerts for parents through text or an app, capabilities to freeze spending or set limits, and turn off the debit card in the app in case it’s lost or stolen. These are good capabilities as your teen learns how to manage money.
Because you can’t spend every minute tracking your teen’s finance, however, you also want an account that will either decline transactions that would put the account into the negative, offer overdraft protection, or waive overdraft fee.
How to Open a Teen Checking Account
When you’re ready to open a checking account for your teen, you’ll want to make sure you have their date-of-birth and Social Security number handy, as well as your own. Make note of any minimum deposit requirements, as well, and have a plan in place to fund the account.
Fund the Teen Checking Account and Activate the Debit Card
Most teen checking accounts will allow you to make a deposit from an external account or make a mobile check deposit in the app. If your teen works, you can have them request a form to have their paycheck deposited automatically via ACH transfer.
If you open a teen account with Chase, Bank of America, or other big banks, you can easily transfer funds from your linked internal account in minutes.
Once your teen receives their debit card, you will want to show them how to activate it by calling the number on the card or setting up their PIN at an ATM within the network. Let them know that their PIN should be easy for them to remember, but hard for anyone else to guess. They shouldn’t use their birthday or the last four digits of their phone number, for instance.
Frequently Asked Questions
Do teen checking accounts have monthly fees?
Most of the best checking accounts on our list do not have maintenance fees, service fees, or ATM fees.
Can a minor have a checking account?
Yes, a minor can open a checking account jointly with a parent or guardian.
What happens to a teen checking account when I turn 18?
Some of the best teen checking accounts automatically convert to regular checking accounts when the child turns 18.
Can I open a teenage bank account online?
You can open many of the checking accounts on this list online. However, to open a Wells Fargo Clear Access account for a person under the age of 18, you’ll need to visit a brick and mortar branch.
What is the minimum age to open a teen checking account?
Some teen checking accounts are available to children as young as six years or eight years old, as long as they are opened jointly with a parent or guardian. Teens 18 and older can open an account on their own. Many student checking accounts designed for young adults ages 18 to 25 have no fees for college students.
How much money should you keep in your teenager’s checking account?
How much money you keep in your teen’s checking account will depend on a variety of factors. How much can you afford to pay in allowance or fees for chores per month? Is your child earning any money of their own they can deposit? Do they typically receive cash gifts for birthdays or holidays?
Keep in mind, funds in teen checking accounts are FDIC insured up to the federal limit of $250,000 per account holder, per account type. In the case of jointly held accounts with a parent and a minor account holder, these accounts are insured for $500,000 in total, or up to $1 million if you have linked checking and savings.
Renderings of a proposed 50-story skyscraper on a one-acre lot in this San Francisco neighborhood would stick out like the giraffes do at the zoo across the street.
The skyscraper at 2700 Sloat Blvd. would not only overlook the San Francisco Zoo, but it would become the tallest building in the Outer Sunset neighborhood and change its makeup. The project by CH Planning plans to bring 712 apartment units to the city’s west side, but the renderings released last week show that the building would tower over an area made up of mostly two- and three-story homes.
Out of the 712 units, 115 of them would be affordable, according to the latest application submitted by CH Planning to the San Francisco Planning Department on April 11. The problem is that the neighborhood is not zoned for a 500-foot building, according to city officials.
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The developer said it wants to utilize California’s density bonus law, which gives developers more favorable development requirements in exchange for building more affordable housing units. Previous versions of the project included an eight-story building with 213 units, followed by a 12-story building with 400 units, according to documents submitted to the city’s Planning Department over the last several years.
A 50-story skyscraper would essentially quintuple the current property’s height limit, said Daniel Sider, chief of staff for the Planning Department.
“It simply defies logic that a building in a 100-foot height district seeking a 50% bonus could somehow rise to 560 feet,” Sider said in a statement. “While we agree that this site is ripe for housing and we hope to work with the developer to achieve that, there is no provision in state or local law to permit the downtown-style building that’s been proposed.”
CH Planning did not respond to requests for comment.
In March, CH Planning founder Raelynn Hickey told the San Francisco Business Times that the project would include 646 units and be a mixed-use tower with ground-floor retail and restaurant space. Based on the latest application, 69 units have been added, with total construction costing $134 million and taking roughly 20 months to build.
The project has seen pushback from at least one group, Save Our Neighborhoods San Francisco, which balked at the previous proposed rendering and took up a petition to try and stop it. The group says it has collected nearly 1,900 signatures to ask the city to shut down the project.
The current iteration of the project probably will not get off the ground based on the Planning Department’s response to the proposal.
“The proposed project is flat out inconsistent with local zoning rules and state density bonus laws,” Rich Hillis, San Francisco’s planning director, said in a statement. “It sets back our efforts to appropriately add housing on the City’s west side and meet our Housing Element targets. Frankly, it’s a distraction.”
But there is mounting pressure for the city to start building new housing. Under the new Housing for All program, San Francisco aims to build 82,000 new homes by 2031 by expanding housing choices, which includes zoning laws accommodating for more units on the city’s west side, like the Outer Sunset neighborhood.
A garden center and parking lot currently occupies the one-acre lot at 2700 Sloat Blvd.
Webull believes that everyone should have an equal opportunity to control their financial future, and with their app, you can do just that.
Let’s dig into our Webull review.
In This Article
What is Webull?
It’s an iOS and Android online stock trading app that incorporates a ton of real-time information and tools to help the beginner get started investing for their future, or give the veteran investor an excellent option for zero commission trading.
Although other mobile apps offer free trades, like Robinhood, these two apps are very different, and Webull has some unique features to offer, especially in the area of research.
Webull is offering a free stock priced at $12-$1400 after successfully opening a free account and depositing ANY amount.
Webull Financial, LLC owns the Webull application. The company was founded in 2017 (privately held), and the mobile app was launched in May of 2018.
Webull is a registered broker-dealer with the SEC and a member of FINRA and Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash).
You can check the background of Webull Financial LLC on FINRA’s BrokerCheck.
Keep in mind when investing in stocks and all other investment products involve substantial risk of loss and are not suitable for every investor. The value of stocks may fluctuate, and as a result, clients may lose more than their original investment.
Webull Features
Webull provides several great features to get you started buying and selling stocks. Webull V6.0 was recently released, which added Options Trading for all our users. Cryptocurrency Trading will also be coming to Webull soon! Visit the Webull website to join the Cryptocurrency Trading RSVP list.
Here are the features WeBull includes:
Free to Setup – Download the app, and you can begin setting up a commission-free brokerage account. You must be at least 18 years old with a valid social security number. There is no minimum deposit required for regular trading, but for margin trading, the minimum account balance must be at $2,000 or above (to use leverage or short).
Trading Tools – Webull delivers some of the best tools of any trading platform. They include free Free real-time quotes (NASDAQ Last Sale), in-depth charts, analyst ratings, and financial calendars.
Extended Trading Hours – Webull has free pre-market, and after-hours trading from 4 am to 8 pm Est. Full pre-market (4:00 AM – 9:30 AM ET) and after hours (4:00 PM – 8:00 PM ET) sessions.There are not many trading platforms that offer these extended hours.
Retirement Accounts – Webull offers three different types of IRAs to serve different financial goals: Traditional IRA, Roth IRA, and Rollover IRA.
Margin Account – With a margin account, you can short stocks, employ leverage to increase your exposure beyond that of your cash balance, and can place multiple day trades within a week without breaching regulatory constraints around day trading.
Free Stocks – You have the opportunities to receive free stock. You get one for opening an account. You can’t beat free!
Easy of Use – The Webull app is easy to use and has a great design. Check out the video I made. The app is running on an iPhone 6 with no issues.
Multi-platform accessibility
Free access to our advanced and fully customizable desktop, web, and mobile platforms.
24/7 Online Help
We offer 24/7 online help to guide you through our multiple platforms and answer all your questions.
Is Webull Safe?
Webull has several different levels of security and insurance for your account.
First, for your personal data, Webull uses state-of-the-art security measures when handling customer information. Your personal information is fully encrypted and never shared.
Second, for your money invested, Webull Financial is a member of SIPC, which protects securities customers of its members up to $500,000 ( $250,000 of cash).
Thirdly, Webull’s clearing firm, Apex Clearing, has purchased an additional insurance policy. The coverage limits protect securities and cash up to an aggregate of $150 million, subject to maximum restrictions of $37.5 million for any one customer’s securities and $900,000 for any customer’s cash. Similar to SIPC protection, this additional insurance does not protect against a loss in the market value of securities.
All the details can be found at Webull’s website or call Webull’s customer service for more information.
Webull Offers Free Stocks
Did I mention a free stock? Who doesn’t like free? You can get a free stock, once you successfully open a Webull account and fund the account with ANY amount. A stock valued between $12-$1400 will be received.
The stock inventory is composed of stocks with a minimum market capitalization of $2.5 billion from a US-based company listed on the NYSE or NASDAQ stock exchange.
Increase Your Investing Knowledge
One of the best features of Webull’s app is its aggregation of stock and investing information in one place. If you are looking to gain a better understanding of the stock market, this app is for you.
Several features will help you increase your knowledge, and help get you more comfortable with investing.
Watchlist – The watchlist gives you the ability to track individual stocks, mutual funds, ETFs, and companies. Even if you know very little about investing, this feature allows you to track the performance of any company you add to your watch list.
So if Netflix happens to be your binge-watching service or Starbucks your beverage company of choice, you can add them. Once added, you can drill down and review detailed performance, news, and analyst rating. This simple ability will help you increase your investing IQ.
Market Data – The market tab within Webull’s app gives you a complete market overview, including all US-base markets, the Dow Jones, S&P 500, and the NASDAQ. It also includes the Cryptos market, and all of the Global markets with great detail.
Paper Trading – This is a simulated trading feature, that just maybe the best way for a novice investor to better understand the market without the risk of losing any of their own money.
The feature allows you to start with 1 million dollars of virtual money to begin to build a stock portfolio. This real-life scenario is suitable for beginners to practice without using real money and a variety of features that benefit traders.
Webull offers simulator trading competition with real prizes on the line. To participate, you need to use Webull points to enter.
From their website, points are based on your contributions to Webull and the community. You can earn points by posting comments and ideas in the Webull community, completing tasks, and participating in our promotional activities, etc. These points can be redeemed for upcoming Webull products and services.
Cons
There is a lot we like about WeBull. Currently, there is only one con we could find.
Joint accounts – Webull does not support custodian, joint, or trust accounts. All accounts are individual accounts.
Overall Webull Impressions
I hope you have found this review useful. Webull is a slick trading platform app with a significant number of tools and data to balance your level of experience. It’s easy enough to use to help the beginner investor learn more about the stock market and deep enough to keep the experienced investor engaged.
Webull is an excellent choice for anyone who wants to be able to trade stocks from a smartphone.
Check out Twitter and follow the hashtag #HelloWebull for all the social media buzz on the application.
Brian is a Dad, husband, and an IT professional by trade. A Personal Finance Blogger since 2013. Who, with his family, has successfully paid off over $100K worth of consumer debt. Now that Brian is debt-free, his mission is to help his three children prepare for their financial lives and educate others to achieved financial success. Brian is involved in his local community. As a Financial Committee Chair with the Board of Education of his local school district, he has helped successfully launch a K-12 financial literacy program in a six thousand student district.
Want to invest in a hot start-up company, join a market-beating private investment fund or back a potential blockbuster movie that could be your ticket to the Forbes Billionaire List? Chances are you can’t unless you’re already quite rich or significant investment expertise. But a recently passed House bill aims to change that by allowing individuals to take a test that could allow them to purchase such private securities.
A financial advisor can help you invest and integrate those holdings into a diversified portfolio. Speak with a financial advisor today.
About the Proposed Legislation
Right now, anyone who wants to purchase an unregistered security, such as shares in a hedge fund or private equity fund, needs to show that they’re what the Securities and Exchange Commission (SEC) considers an “accredited investor.” To qualify, you need a net worth of more than $1 million (not including your home), more than $200,000 a year in income ($300,000 if you’re married) or significant experience as an investment professional. Otherwise, your money is off-limits for private placements and other unregistered offerings.
The Equal Opportunity for All Investors Act of 2023 (H.R. 2797) would instruct the SEC to create an accredited investor certification exam that would allow investors to demonstrate they have the knowledge and understanding required to participate in the private market. The exam would be administered by the Financial Industry Regulatory Authority (FINRA).
“It is my firm belief that the accredited investor definition should not be tied exclusively to wealth,” one of the bill’s sponsors, Rep. Mike Flood, R-Neb., said in a statement. “Instead, we should unlock opportunities for knowledgeable investors that may not come from means.”
These Other Bills Could Impact Accredited Investors
The House recently passed two additional bills that would expand the definition of an accredited investor. Here’s a breakdown of each:
The Accredited Investor Definition Review Act (H.R. 1579) gives the SEC discretion to establish the necessary certifications, designations or credentials investors need to be accredited, and would require the commission to review those definitions every five years.
The Fair Investment Opportunities for Professional Experts Act (H.R. 835) would grant accredited investor status to individuals with certain licenses, or educational or professional backgrounds. “My legislation is about leveling the playing field,” said Rep. Bill Huizenga, R-Mich., sponsor of the investor definition review act. “Whether it’s in Kalamazoo or Portage, Benton Harbor or St. Joe, or Battle Creek or Springfield, investors should be able to support small business startups in their local community across southwest Michigan and around the nation.”
Besides meeting the requirement for net worth, income or professional investing experience, individuals also can qualify as an accredited investor under existing law if they are directors, executive officers or general partners of the company selling the securities or the company that’s the subject of the offering. Clients of a family office that qualifies as an accredited investor may also be considered accredited. And in the case of a private investment fund, someone the SEC defines as a “knowledgeable employee” of the fund may qualify as an accredited investor.
Bottom Line
The SEC restricts the sale of unregistered or private securities because those offerings typically don’t meet the commission’s standards for financial and regulatory disclosures. Instead, participation has been limited to financially sophisticated and wealthy investors with a reduced need for the protection provided by disclosure filings. New legislation that’s been approved in the House of Representatives would establish an exam that investors would need to pass before attaining “accredited” status. Meanwhile, other bills that are working their way through Congress would expand the definition of an accredited investor.
Investing Tips
While investing in unregulated securities can be complicated and risky, figuring out an investment strategy that relies on typical stocks, bonds, mutual funds and ETFs can be confusing, too. A financial advisor can help. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Diversification is a key investment strategy to understand. Concentrating too much wealth in a few assets can leave your portfolio vulnerable and exposed to heightened volatility. SmartAsset’s asset allocation calculator can help you identify a mix of stocks, bonds and cash that’s suited to the level of risk that you’re willing to assume.