Teens get learner’s permits before driving. What about for money?

It would be nuts to hand your car keys to a 16-year-old and wish them luck as they hit the highway with zero practice or experience driving.

We just don't do that. Instead, we teach them how to check their mirrors, stay within the speed limit, merge into traffic, and pay attention to everything else happening around them. Even after that, they start with a learner's permit, an adult in the passenger seat, and plenty of time behind the wheel before mastering the road on their own.

That's the pitch behind a new generation of banking apps for teens, from Greenlight and Step to Cash App and Chase. Each one aims to give kids a more well-rounded financial foundation than what many of us had growing up. (I don't think I learned the value of credit until my mid-30s.) With these new apps, teens can save, spend, send money, earn rewards, and invest, all with parents watching from the passenger seat.

The newest teen account soft-launched earlier this month and officially rolled out today. It’s from OnePay, the fintech backed by Walmart.

What sets it apart, OnePay Product Lead Anthony Cassano told me, is the combination of credit-building, investing, rewards…

Original source: https://www.usatoday.com/money/