R.K.
My dd is almost 2 and banked with CBR. They are a wonderful company and send my dd birthday cards and gifts. I believe it was around $2000 to initially bank and then it is $125 a year. They do offer payment plans as well. I also have an 8 year old and wish we banked her cord blood as well but we honestly didn't know enough about it then. Talk with your obgyn as they will need to note in your chart if you do decide to bank. Your obgyn will give you a kit if they have one available to take to the hospital with you. Make sure you let admitting, nurses and any doc you see you are banking. When the baby is born there is a toll free number you call and then CBR sends a courier from their home office in Phoenix topick p the cord blood - this took about 3 hours and I am in Chicago. The courier verifies all info including photo Id of you or hubby. Once the blood is received in Phoenix they run a test to see how many cells were collected. They will call you with this info and you will get updates on any new advancements they are doing with stem cells.
Hubby and I think of it this way- it is an insurance policy you hope it will never be needed but its great to have if you do.
Please let me know if you have any other questions and Good Luck!