View Full Version : Best bank to open account for children?

05-24-2007, 01:26 PM
Looking to open some sort of bank/savings account for children, have no idea if to open savings or any other types that are available for children :confused3 Any suggestions on which banks and type of account that are best for children?

Thanks in advance :thumbsup2

05-24-2007, 01:37 PM
ING has a great program for kids, but I don't know if the actual physical act of going to the bank is still a draw for kids. In that case, try your local banks or CU's, they often having incentives for kids.

05-24-2007, 01:56 PM
I was going to suggest a credit union too. At my kids' school, a CU rep comes in once a month to take deposits to the children's accounts. There are kid-friendly incentives for reaching certain monetary goals, e.g. first $50, etc. Things like teddy bears, gym bags, piggy banks, school supplies. The CU also has periodic random drawings and DD11 just won a $25 GC to TRU.

Bren's Mom
05-24-2007, 02:02 PM
I vote for a credit union also!! :banana:

05-24-2007, 02:07 PM
Thanks, anyone know of Municipal Credit Union?

05-24-2007, 07:07 PM
When I was in middle school, I think 6th grade, my dad started finally paying my mom child support. It was $15.00 per week :) Anyway- my mom opened me a savings account at the credit union that she used.

that was at LEAST 20 years ago....I still have that savings account, and my checking account is actually that same account number LOL...

Both of my girls have real investment accounts, but they also have credit union accounts that they put money earned, or birthday money into and can take out etc... They actually still have the 'passbook' type, where they stamp the book when you deposit etc. They also offer it at their school, but since I use the same CU, we go there instead.