My Teens don't make all that much money yet and paying these service fees for a savings account, it might might as well stay at home. Do you know of a bank that gives free saving accounts?
2006-06-14 06:23:17 · 5 answers · asked by greenie 6 in Business & Finance ➔ Personal Finance
Most locally owned/operated banks offer free accounts for kids, with no minimum balance. My teen has one.. at one time i think her balance was 11 dollars(lol) just call around... should be easy to find.
2006-06-14 06:28:56 · answer #1 · answered by kaisergirl 7 · 0⤊ 0⤋
Yes, I am 19 and I have a free savings account at my bank. Im not sure if you have a Postel Credit Union in your area, but they are great. It is better if you start them out at a smaller bank, because the smaller bank will be more willing to help and has better benifits. I have also banked at Bank of America where i got a free savings account because i am a student, so you might also check there. But my suggestion is to look for a credit union like Postel, or a smaller bank chain.
Sincerely,
amt0616
2006-06-14 13:31:25 · answer #2 · answered by amt0616 1 · 1⤊ 0⤋
Try a credit union. I thought you couldn't charge under 18's a fee for a bank account. I think a credit union is the best bet.
2006-06-14 13:27:04 · answer #3 · answered by smartypants909 7 · 0⤊ 0⤋
First of all the Teen must be at least 18 years old to have their own account.
You could however, offer to hold their money for them in your own account so they would not have to pay any related account fees - just don't spend their money!
2006-06-14 13:35:52 · answer #4 · answered by Darren J Smalley 2 · 0⤊ 1⤋
Try a credit union. The one I belong to offers just what you are looking for and is open for anyone to join. Mine is great for so many reasons.
2006-06-14 13:55:18 · answer #5 · answered by LBozo55 1 · 0⤊ 0⤋