PUBLISHED: 4:10 PM on Wednesday, October 10, 2007
Wells Fargo launches account to help parents teach financial skills to teens
To help parents guide their teenagers on the road to successful financial independence, Wells Fargo announced today its Teen CheckingSM account. It's Wells Fargo's first account created specifically to help parents teach their teenagers good money management skills.

The account, for individuals ages 13 to 17 with an adult co-owner, combines financial education through Wells Fargo's Hands on Banking program, parental controls such as daily spending limits on debit card purchases and ATM withdrawals, money management tools, and account alerts. The Teen Checking account includes several free money management tools

"Parents set limits and controls on this account, but the teens are 'behind the wheel' of their own money management. If they hit a bump in the road, the controls help soften the impact," said Elaine Junge, Wells Fargo vice president and Alaska marketing manager.