OnePay launches banking for teens to build credit history
Fintech company OnePay has launched a new banking service for teenagers aged 13-17, enabling them to build credit history and learn money management under parental supervision.
OnePay, a fintech firm serving millions of Americans, has introduced a banking service for U.S. teenagers aged 13 to 17. The program aims to provide young users with practical experience in managing finances and establishing a credit history, with parental oversight.
The service allows teens to save with up to 3.35% APY, invest, and earn rewards. A key feature is the ability to begin building a credit history, which will be reported to credit bureaus once the user turns 18. This initiative is designed to help young adults enter adulthood with a foundation for future financial activities, such as securing loans or rental agreements.
OnePay highlighted that many existing teen banking products cease upon reaching adulthood. The company intends for accounts to transition with users into adulthood, allowing them to retain their spending history, savings, and accumulated credit history while gaining access to the full OnePay platform.
Parents can monitor their teen's accounts, manage spending controls, and receive real-time alerts through the OnePay app. The service is available without monthly fees, and teens can select from various card designs starting September 28, 2026.