Savings Account for Kids and Teens

Lifelong financial success starts here

Help your kids get an early start on being money smart. You can open a savings account for a child of any age, even a baby, typically with joint ownership, or a custodial account that doesn’t give them access to the cash until they are adults.

No monthly fees
No minimum deposit or balance
Your first $1 deposit is on us!
Up to age 17

A savings account is a great way to save birthday money or an allowance, and get your kids started on the concept of budgeting. We recommend that you meet with a Patelco team member to open a youth savings account. You can meet online via Zoom or visit a branch near you. (Use the button above to make an appointment.)

Product Benefits

Top-rated Mobile App

Access your child’s account anytime from anywhere

Easy Money Transfers

Instant transfer from parent’s Patelco account or link to external account

Available ATM Card

For age 13 – 17

30,000+ Fee-free ATMs

Find one near you on our Mobile App

Virtual Financial Mentor

Check out special courses just for youth, including Banzai Junior and Banzai Teen.

Kids Savings

Rates Effective 01/01/2020

ID	Term	Min. Balance	APY¹	Rate	Rate Effective Date	Dividends Paid	Monthly Fee	Available Age	Description
18739	None	0	0.05%	0.05%	01/01/2020	Monthly	$0 monthly fee and no minimum balance	For age 13 – 17	¹ APY = Annual Percentage Yield.
18758	None	5,000	0.05%	0.05%	09/21/2018	Monthly
18762	None	10,000	0.05%	0.05%	09/21/2018	Monthly
18766	None	20,000	0.05%	0.05%	09/21/2018	Monthly
18772	None	50,000	0.05%	0.05%	01/01/2020	Monthly
18789	None	100,000	0.05%	0.05%	01/01/2020	Monthly

Frequently Asked Questions

What do I need to open a Kids Savings account for my child?

To open a Kids Savings account for your child, you’ll need the Social Security Number for children under 13. For 13 and older, you’ll also need to provide a school ID, Passport or state ID.

Is there a monthly fee on the Kids Savings account?

No. There’s no monthly fee and no minimum balance requirements.

What are my options for a Kids Savings account?

You can open the account with joint ownership with your child, or a custodial account that doesn’t give them access to the cash until they are adults.

When will I receive my ATM card?

ATM cards are available for ages 13 – 17. You will receive your ATM card in the mail typically within 10 business days after you’ve requested it. Contact us to request an ATM card for this account.

Coaches, calculators, and courses

Patelco has partnered with Banzai to bring you clear, in-depth activities and information to help your child become money smart. Get access to tools, like articles, calculators, courses, and exclusive Banzai Coaches.

Read different strategies on how to teach children about money, how to be internet safe and even the cost of college life.

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