Why should teenagers, in particular, look for no fee savings

Last updated: 7/9/2022

Why should teenagers, in particular, look for no fee savings accounts? Savings accounts with low or no fees always have higher interest rates Banks charge younger people more because they are riskier Savings account packages with low or no fees typically come with better customer service The amount of fees a bank charges is likely to be greater than the interest a bank would pay on a teenagers' balance as they are first starting to save in a savings account.