OnePay Launches Teen Banking With Credit-Building and 3.35% APY Savings
NEW YORK – September 28, 2026 -- OnePay announced that teens ages 13 to 17 can now open bank accounts through its app, letting them save at up to 3.35% APY, invest, spend, and start building credit history, all with parental oversight and no monthly fee.
Teens can bank without paying fees while parents keep control
Through the OnePay app, parents can view their teen's accounts, monitor spending activity, set allowances, manage real-time controls, and receive alerts. Teens must remain an authorized user on a parent's OnePay deposit account, complete Social Security number verification, and not opt out of credit reporting to qualify.
Nothing is reported to credit bureaus while a teen is under 18. Once they turn 18, OnePay reports their eligible account history to the bureaus, giving young adults an established credit file instead of no history at all.