BOK Financial Study Finds Parents Want Banks to Help Kids Build Money Habits, But Don’t Know Where to Start

TULSA, OK, October 27, 2026 - BOK Financial today released the findings of a survey of more than 1,000 parents. According to this survey, nearly all parents (92%) believe banks should offer financial tools designed specifically for children and teens, and 84% say they would enroll their child in a strong youth banking program offered by their current bank. Yet only 62% are familiar with the youth banking options available today.

The findings point to a gap between what parents want and what they know, and to a clear window in a child’s life when families are most ready to act. The survey of 1,057 parents of children ages 6 to 18 in Arizona, Arkansas, Colorado, Missouri, New Mexico, Oklahoma and Texas was conducted to discover how parents are approaching financial literacy for their children.

“Parents told us very clearly that they want help teaching their kids about money, and most would like that help to come from the bank they already use,” said Tyler Vanden Heuvel, vice president and consumer area manager at BOK Financial. “It’s a good reminder that the habits children build around money at a young age can stay with them for years. The earlier families start those conversations, the easier it becomes to build confidence and develop healthy financial habits.”

The middle school money moment

Parents see the tween years as the time to start. More than a third (36%) say children should begin using basic money management tools between ages 12 and 14, and another 24% say the best age is between 9 and 11. Interest in youth banking climbs along those same ages: half of parents of 9- to 11-year-olds are considering opening a financial account or tool for their child, and 42% of parents of 12- to 14-year-olds already have one.

Full independence comes later. Nearly two-thirds of parents (65%) say children are ready to manage their own bank account independently between ages 15 and 18.

Control gets parents in the door, but education seals the deal

Parental controls are a must. Nine in 10 parents say parental control features are important when choosing where to open a debit account for their child. The most desired features include a kid-friendly app for checking balances, a debit card with parental controls, the ability to lock a card from a parent’s phone, and real-time transaction alerts.

But when parents explain why they would actually enroll, the answers center on their child’s development. The top reasons are helping kids learn responsible day-to-day money habits (42%), building good saving habits early (40%), and preparing them for financial independence (37%). Most parents (56%) want both a spending account and a savings account for their child, rather than one or the other.

The security paradox

Data security is parents’ top concern about youth banking programs, cited by 42%, ahead of fees (39%) and worries that their child might overspend (33%). Yet when asked which apps, cards or tools they currently use or are considering for their kids, parents most often named general-purpose payment apps such as Cash App, Venmo, PayPal and Chime rather than tools designed specifically for children and families.

“Parents are right to put security first,” Vanden Heuvel said. “The good news is that the features parents care most about, like locking a card from their phone or getting an alert every time their child makes a purchase, are the same ones that turn everyday spending into a teaching moment.”

Five ways to help kids start saving

Drawing on the survey findings, BOK Financial offers these tips for families entering the world of youth banking:

• Start before the first account. Parents see ages 9 to 11 as a natural starting point. Simple steps like a savings jar, talking through needs versus wants, or comparing prices at the store build the foundation before a card ever changes hands.
• Make the goal visible. Kids save more readily for something specific. Pick a target item, track progress in an app or on a chart on the fridge, and celebrate milestones along the way.
• Ask the right questions before you sign up. Is your child’s money held in an FDIC-insured bank account? Can you set spending limits, receive real-time alerts and lock the card from your phone? What personal data is collected, and how is it protected? Are there fees or minimum balances?
• Hand over the keys gradually. Expand independence step by step through middle and high school. Review statements together, let kids make small mistakes while the stakes are low and, by ages 15 to 18, let them manage day-to-day money with you as backup.

About BOK Financial
For more than a century, BOK Financial has been a financial services partner for consumers, businesses and wealth clients alike. We bring the kind of financial insight and resources you’d expect from a national institution — but we deliver it with the care, clarity, and consistency of a neighbor who knows your name and understands your goals.