How Vault.Bank helps teens take control of their finances at 18
Turning 18 is a major milestone and not just for life, but for finances too. At Vault.Bank, we’ve designed our Minor Accounts to grow with your teen. When they reach adulthood, transitioning to a Vault Demand Account is simple, seamless, and empowering.
Here’s what teens and parents need to know about making the switch.
What Is a Vault Demand Account?
A Vault Demand Account is a full-featured personal banking account designed for adults. It offers complete access to Vault.Bank’s mobile app, advanced budgeting tools, and financial independence.
Unlike Minor Accounts, which are jointly managed with a parent or guardian, Demand Accounts are fully owned and operated by the account holder.
When Does the Transition Happen?
The transition typically occurs when the account holder turns 18 years old. Vault.Bank notifies both the teen and parent in advance, providing clear steps to upgrade the account.
What Changes with the New Account?
- Full App Access: Teens gain full control over their account, including transfers, savings goals, and spending insights.
- No Parental Oversight: Parents no longer have access to monitor or manage the account.
- Expanded Features: Demand Accounts include additional tools for budgeting, saving, and financial planning.
- New Responsibilities: Teens are now responsible for managing their money independently, including tracking spending and avoiding overdrafts.
How to Prepare for the Transition
- Review Financial Habits
Encourage your teen to reflect on their spending and saving patterns. Are they ready to manage money solo? - Set New Goals
Help them set financial goals for college, work, or personal savings. - Understand Banking Tools
Make sure they’re familiar with Vault.Bank’s app features, including transaction history, budgeting tools, and alerts. - Talk About Responsibility
Discuss the importance of maintaining a positive balance, avoiding fees, and planning for future expenses.
Why This Transition Matters
Moving from a Minor Account to a Demand Account isn’t just a technical upgrade—it’s a rite of passage. It marks the beginning of financial independence and sets the stage for responsible money management in adulthood.
Vault.Bank is here to support teens every step of the way, with intuitive tools and educational resources that make banking simple and empowering.
Ready to Take the Next Step?
If your teen is approaching 18, now is the perfect time to start preparing for the transition. Vault.Bank makes it easy to upgrade and continue building smart financial habits.
Learn more about Vault Demand Accounts and how they support financial independence.
