Saving is a fun and profitable activity to teach your kids. If taught early on, they will get used to saving and not wasting their money. To provide professional support, you can help by opening kids savings accounts for them. In this way, they can also familiarize themselves with the systematics of saving in bank, so besides the money stored safely, they will not feel surprised when tomorrow they start dealing with bank stuff. For your information, there are many minor saving accounts provided by various banks, of course with the advantages and features of each. As parents, you must be smart to choose which bank is best suited for your kids.
The Best Kids Savings Accounts 2018
- The Bank of America Minor Saving account
With more than 4500 branch offices spread across the area, you can familiarize the kids with their bank surroundings and unique saving system. If you do not feel like it, they can still make use of online savings to deposit at home, in your supervision of course. This is the quality standards of kids savings accounts in the world.
- Capital one 360’s Kids saving account
Capital one 360 is famous for its features and specialty in online and hardware enhancement. The same innovation is also applied to kids savings accounts. With a substantial amount of APY, which is 1% per year, online banks from capital one 360 will make it easier for kids to save by eliminating monthly subscriptions fees and without a minimum initial deposit.
- Boeing Employees Credit Union Early Saver Account
In addition, this is the only bank that requires you to become a member before starting to open a savings account. Although the requirements are a bit annoying, the benefits are quite large, such as the number of APY reached 6.17% for the first $500, before it later changed to 0.1%. Furthermore, the BECU early saver account provides both offline and online branch as well, making it easier to save in the bank.
Well, those are the best three of kids savings accounts that help them to manage the financial business at early age. Everything has its own pros and cons; you simply adjust to the nature and willingness of your kids. Are they comfortable with the online system and membership? The most important thing is, make saving activities into something fun, so they get used to and enjoy while doing it.