Hi fellow mommies! :)
I am trying to find a good bank for my kid's savings accounts - ages 2, 4 and 14. We initially had Uncle Credit Union, which we loved, but we moved so it was a 20 minute drive to go there. Then we switched to Bank of the West, which was horrible. Nothing went smoothly at all! They actually charged my kids $2 a month, which isn't good when my kids are only putting money in twice a year - birthdays and Christmas. They said it was a mistake, but they never fixed it and never refunded what they took.... so it actually cost my kid $12 to have a savings account there!! Plus, they only send statements every 3 months for savings accounts.
What happened to the good old days when we used to deposit our money, get a stamp in the bank statement book and get a llittle gift?! Anyone know of a reliable bank that I can establish savings accounts that won't charge them fees and possibly even make it fun to save?
Thank you all for your time,
J.
Credit Unions are usually better than banks. We were members of Patelco when we lived in the Bay Area, and we really liked it. I know for sure there's a branch in Walnut Creek, and one in Pleasanton. Not sure about San Ramon, but if there's a branch near you, check them out. They were always super friendly to us, knew our kids by name, but they also have online banking and all the usual bells and whistles that larger banks have.
Ditto the Credit Union suggestion. It's where my kids have their accounts too. Each one has a different program for kids, but, it seems, they all have some sort of program. GL!!
The credit union that we are a member of has a "STAR Club" for kids. We haven't started an account for our daughter yet (tho maybe that's something I will think about now!). But it's supposed to help kids learn about good money management. Perhaps there is a bank/credit union near you that has a program geared for children?
Our credit union is only in the north Alabama area.
We belong to Navy Federal. THey do take civilians now. THe kids get a small stuffed Navy federal mascot for every $100 (I think). The little oones loved it. It also gives them interest, but only like .5%, very little.
I have also been very happy with NFCU.
I am 33 years old and I have had a savings account with Wells Fargo bank since I was a small child...seems to have worked out alright...they also have a WAY better online banking page than my primary bank, which has been Bank of America, for the last 13+ years.
We have one for our daughter at Wells Fargo, they earn points for each deposit and can turn those ponts in for toys and stuff.
We don't go through the bank here for our girls.. My hubby and & put the paper money away for them and they have piggy banks they get control of. When the piggy banks are full, we take the change down and cash it in for paper. Like you, we were getting charged fees for our childrens' accounts. We got fed up w/ everything and completely did away with banks for the girls. There's no interest accumulating, no, but there's also no fee and no penalty for when they withdraw later either.
