I am looking for a bank for my 10 year old son.?

Question

Do you know the best bank for children?

Answer 1

It may be helpful for you to know that a lot of small local banks try to get banking business by offering plans to children that are entirely independent of the adults account. My account (I'm 14) has a low interest rate (only .25%) but has smart "parental" features like I cant take out all of my money at once for an impulse purchase. so besides your own bank, some local banks are the best bet.

Answer 2

I don't think you should look for a "children's bank".  It has to be joint account with you anyway - assuming you are at least 18, which is probably likely if your son is 10.

Check other features of the account such as minimum opening requirement, minimum balance requirement, interest rate, compounding cycles, inactivity fees, ATM fees, foreign ATM surcharges, paper statement charges, etc. etc.  Yes, banks are very creative when it comes to sucking the blood out of you./

Answer 3

Whatever bank pays highest interest rates on your cds.  Banks can be just as good for children as they are for adults.

Answer 4

Children can't open an account without an adult - and most banks will only open a minor's account if the parent has an account with them.

So the best bank for your child, is YOUR bank.

Answer 5

Try banks that are affiliated with suntrust. They're family oriented.

Plus, Cat makes a good point