Savings Accounts for Children
My children have had savings accounts at a well known bank for several years. They don't have to pay any fees, but the interest rate is awful - about a quarter of a percent. Hardly an incentive to save. I could open an online savings account for them, but they would then need a linked checking account (can under 18's have a checking account?), which would then probably have a monthly service fee, which would quickly erode their savings.
Can anyone recommend a no-fees, high-interest, savings account for children?