Regardless if you go for a joint account to teach your kiddo more responsibility or a custodial account to manage your little one’s funds for them, look for a savings account with high yields and low fees to better stack earnings. Why trust Finder 300+ banks and credit unions reviewed ...
(See more on how credit unions differ from banks.) Here’s a look at NerdWallet’s favorite savings accounts for kids.Show Less 🤓 Nerdy Tip The Fed lowered its benchmark rate multiple times in the second half of 2024. Saving in a high-yield account means you can still earn some of...
With a $5 minimum opening deposit and a strong yield on most balances, theAlliant Credit Union Kids Savings Accountis ideal for long-term savings goals. This account is open to kids under 13, giving them more time to accrue compound interest. Kids 13 or older aren’t eligible to apply, ...
Capital One Kids Savings Account Why we chose it:You don’t have to wait until your child is a certain age to open this account. A parent or a legal guardian can open this account for a baby. Grandparents can open one of these accounts when the child turns 12. ...
and perks. As you’ll see, many of these options offer online banking options, making it easy to manage your kids savings account. If you want to check out other great online banks, many of which offer kid’s bank accounts, check out our full article on theBest Online Banks in Canada...
10 best bank accounts for kids in Canada in 2024 Best overall kids account: BMO Performance Chequing Account Best hybrid chequing and savings account: Scotiabank Getting There Savings Account Best little kids bank account: RBC Leo’s Young Savers Account Best credit union account for kids: Oaken ...
Barclays, one of the 'big four' banks in the UK, offers several options for kids and teens 11 and over. Let's look at their bank account for kids heading into their teen years: BarclayPlus. This is a free current account with no monthly fees, and your child just needs to deposit ...
2. Apple Bank SmartStart Savings Account: Best for making payments Serving customers in New York and New Jersey, Apple Bank offers the SmartStart Savings account to kids ages 6 to 25. While you can access and manage this account online eventually, you’ll need to make an appointment at a ...
Best For Creating a Budget: PNC Virtual Wallet Student Account Best Mobile App: Truist One Checking Account Best On-Campus Banking Experience: U.S. Bank Student Checking Account See more of our top bank accounts for teens and kids: Best Savings Accounts for Teens and Kids Best Debit Card...
While a high-yield savings account isn’t an investment account, it is an excellent place for the kid in your life to build a liquid emergency fund that will earn a higher APY in a safe and insured spot. High-yield savings accounts, often provided by online banks and credit unions, pa...