About OnePay Invest for Teens
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In this article
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What is OnePay Invest for teens?#
OnePay Invest for teens lets you open an Invest account for your eligible teen. To access the Invest account, your teen must first be an authorized user on your OnePay deposit account.
With OnePay Invest for teens, you as the parent or legal guardian own the Invest account and remain in control of the investments. Your teen is added as an authorized user and can view the portfolio and place eligible trades within the permissions you set.
You can open one Invest account for each teen you've added to your OnePay deposit account.
Invest for Teens may not be available for all customers at this time.
Who is eligible?#
You may be able to open an Invest account for your teen if:
You bank through OnePay
Your teen banks through OnePay
Your teen is between the ages of 13 and 17
Your teen must first be added as an authorized user on your OnePay deposit account before you can open an Invest account for them.
What can my teen do as an authorized user on an Invest account?#
Your teen can:
View the portfolio
Place eligible buy and sell trades within the permissions you set
Make investment decisions within your trading controls
Redeem eligible OnePay Points to purchase stocks or ETFs
Enable Round-ups, if available
Contact Customer Service about trade disputes and general how-tos.
Your teen can't:
Change your parental trading controls
Contact Customer Service about account-specific issues.
If there's an issue with the account, you'll need to contact Customer Service.
Close the Invest account; only the parent who opened the account can close it.
How do I open an Invest account for my teen?#
Your teen must participate in Banking for teens in order to make investments through OnePay.
To add your teen as an authorized user on an Invest account:
Open the OnePay app.
Tap Teen or Family on the Home tab.
Tap your teen.
Tap Invest.
Follow the on-screen prompts.
If you don't already have OnePay Invest or IRA, you may need to complete the standard OnePay Invest onboarding requirements.
How can my teen request access to Invest?#
If your teen sees the Invest option in the OnePay app before you've opened an Invest account for them, they may be able to request access.
To request access, have your teen:
Open the OnePay app.
Tap the Invest Start today tile on the Home tab.
Tap Request access.
After your teen submits the request, you'll receive a notification where you can approve or decline the request.
If you approve the request, your teen will receive a notification letting them know they can start investing by following the on-screen prompts.
If you don't already have an Invest or IRA account, you may be asked to complete the standard OnePay Invest onboarding requirements.
If you decline the request, the Invest option may be removed from your teen's app. You can still choose to enable investing for your teen later.
How do investment transactions work?#
All Invest transactions (buy and sell) are processed through a corresponding OnePay deposit account.
For the Invest account your teen can access:
Purchases you make are funded from your OnePay deposit account
Purchases your teen makes are funded from the Checking balance or Savings section associated with your teen's profile
Money from investments you sell is deposited into your OnePay deposit account
Money from investments your teen sells is deposited into the Checking balance associated with your teen's profile
If your teen doesn't have enough funds to complete a purchase, they'll be prompted to request more money through their OnePay Checking section.
How do taxes work for the Invest account my teen has access to? Who receives tax forms?#
Your teen is an authorized user on the Invest account and is not responsible for any taxes related to the account. As the account owner, your Social Security number (SSN) is used for tax reporting, and you are responsible for any taxes that may apply.
If you have questions about your tax situation, contact a qualified tax professional.