OT: Bank Books For Kids To Learn How To Save

[missmulan]

When I was a kid I used to have a savings account that was in a form of a bank book. I loved taking whatever money I had in my pocket (sometimes it was .06 cents) and making a deposit with the teller whenever my grandfather had banking to do. I loved watching the savings grow each time. Unfortunately, bank books are unheard of these days. I called several banks (BofA, Citibank, UBOC) to see if they still have "bank books" for kids and none use them anymore. In fact, some young voice had no clue what I was talking about.

I am in the CA area and would love to know if anyone here know of a bank that still offers "bank book" and is not planning to do away with them any time soon. I think this is a great way to show a kid how they can save and watch their savings grow with interest.

P.S. Please, no discussions about...ahem...virtual banks...just brick & mortar with bank books..... Thanks for your help.

 

[jenndisney]

I have the same memories and the same problem here. No one does that anymore. What I do is take a check register and when we deposit money in my daughters account, she writes it in the register. (she is 8 now) I help her with the math and she can see how much it has grown. She has two register full. I also do this with her "Disney Dollars" she earns for the trip. Since we do not have a Disney store near by, she deposits them in writing and we make the withdrawl when we get to WDW or DL. (That also gives me a bit of time to save up for her spending money)

Best of luck with your venture.

 

[wdwpluto]

Maybe Commerce Bank? I don't bank there myself, but I've been in there once or twice (since they have a free coin counting machine) and I seem to remember them advertising some sort of kids program.

 

[Doodlebug939]

I dont know if you are military or not or have someone in the family who can get you memebership but they do offer a kids banking package. It comes with stickers and a deposit book that looks like a check register but bigger. Also when they get to certain dollar amounts they get a stuffed animal.

Here is the website. http://www.navyffz.org/

My kids have been members for several years and really enjoy it. Hope that it helps you or someone out there. Best of luck in your search.

 

[cbrfan]

I used to work at a credit union and we had passbooks available. They weren't necessary, but a lot of the older members liked them. Quite a few parents also used them for their children's accounts. It never hurts to ask if they have them.

 

[shame711]

I work at a bank and to tell you the truth it will be hard to find a Bank that still has a Passbook savings. The problem is the cost for the banks to maintain these accounts. Your best bet is to try a credit union or a small community bank. Good Luck.

 

[Wish I lived in Fl]

I have 2 passbook savings accounts at Sovereign bank for the kids.

 

[juliegirl]

BankNorth in New England has them. Opened one with DD last week, although the women did say they mainly use them for children. With a regular savings account, BN only sends quarterly statements, I don't think that would be very motivational for a child, to only see the balance increase 4X a year.

Love the checkbook idea, I used an old register to keep track of WW points, could track it for a longer period than a week, and saved me from paying extra for one of their log term journals ($5 maybe?)

 

[CajunDixie]

Most banks have extra checkbook registers they'll give you for free. You then could order a special cover from one of the places that sells checks. They have 4 Disney' covers at Deluxe Checks and 6 at Checks Unlimited. They also sell cute personalized Disney stickers at Checks Unlimited. Or for a cheaper version you could make your own checkbook cover with a clear cover and 2 favorite photos or make a Disney fabric cover. Ebay has 32 Disney checkbook covers listed right now.

 

[csmommy]

I live in NY & it is very hard to find a bank that will do this for you. I finally went into a small local bank, the type w/o online banking & they still offer them along with Holiday Clubs. So if I were you I would check a small bank. Good luck!

 

[got2lovedisney]

BankAtlantic has it...not sure their locations but we have them in South Florida.

Also, they have the coin counter machines you can use whether you have an account with them or not.

 

[debster812]

We have a passbook savings account for DS at our Credit Union. They make a big deal, call it a Kid's Club, and give them little toys for every $10 deposit. When they get to $100, they get a bigger prize. LAst time DS chose a lava lamp!

I agree with the others, check a small independant bank or a Credit Union.