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provence_gw

Savings Accounts for Children

provence
17 years ago

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?

Thank you!

Provence

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