Best Banks To Open a Savings Account for a Child Right Now

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If your goal is to teach your child how to manage money, then a kid’s savings account is the great place to start.

Our favorite accounts require no minimum opening deposit or monthly service fees. Some also come with additional perks — like solid interest rates or debit cards — to help you manage the account. These institutions have stayed as our top picks for the last few months because they continue to stand out for their minimal bank fees and unique perks.

Below you’ll find our picks for the best savings accounts for children.

The Best Children’s Savings Accounts

Chase First Banking℠ Account – Product Name Only: Best Brick-and-Mortar Bank

Capital One 360 Kids Savings Account – Product Name Only: Best Online Bank

Alliant Credit Union Kids Savings Account – Product Name Only: Best Credit Union

The Best Kids’ Savings Accounts
Our Expert Panel for the Best Kids’ Savings Accounts

We talked to banking and financial planning experts to inform these picks and provide advice on finding the best banks and credit unions for your needs. 

To learn more about what makes a good bank account and how to choose the best fit, four experts weighed in:

Tania Brown, certified financial planner at SaverLife

Roger Ma, certified financial planner with lifelaidout® and author of “Work Your Money, Not Your Life”

Mykail James, MBA, certified financial education instructor,

Laura Grace Tarpley, …read more

Source:: Businessinsider

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