Bank account

CosmetologyMommy wrote: do u guys have bank accounts for ur kids? I want to set up an account for Aidan on his 1st birthday so I can save all his bday and holiday money. will a bank give him an account?

zdk753 replied: Zach has a savings acct. Need to remember to get one set up for the other 2 eventually.

mummy2girls replied: yes i have one for jenna...

Brias3 replied: Yep, I'm sure your bank will do it. I have a savings account for all three kids.

redchief replied: Your children can have bank accounts, but you will have to have stewardship, I think.

Bee_Kay replied: Yes, Tyler has a bank account at our bank that is specifically set up for children under the age of 13.

Since his 13th birthday, his account got transferred over to a "regular" savings account.
It is Tyler's account, but my name is also on it.

Ashley could have had one.... but she has NEVER been one to save money!!

moped replied: Yes, Jack has had one since he was a week old.........he has more money than I do...LOL

I think I am the only one that has access

Brias3 replied:
I agree with this! The kids accounts always look so fabulous on the report compared to mine because there is nothing coming out of theirs!

CantWait replied: Yes I have a trust account for both the kids. It's in both mine and the children's names, and they can gain access to it when they turn 18 if I choose to hand it over.

C&K*s Mommie replied: We have two accounts~ one for each of the girls.

ZandersMama replied: yup, kiddies can get an account, my parents opened one for zan for his first birthday. his can't be touched till his 16th birthday, not by me or mom or anyone, and money can only go in until then, nothing can come out.

Hillbilly Housewife replied: Yes. there's money in there for them. It's strictly a savings account, no withdrawals allowed. For the moment. And it's in my name, in trust for them.

coasterqueen replied: Both girls have a savings account. It's designed to dump money each month into their college funds. The accounts do have Dh's name on them as well since they are minors.

AlexsPajamaMama replied:
Yup thats the kind of saving account I had when I was a kid too

We still have to set one up for Alex, I always say oh next friday when I'm at the bank...but fridays are sooo busy...I'm a procrastinator

PrairieMom replied: I don't yet, but I have his $ set aside for him. I keep meaning to open one for him, but haven't gotten around to it yet. We have a college account opened for him tho.

Boo&BugsMom replied:
We have a savings account for Tanner where we put any money he gets in it, and this year for his b-day my parents are setting him up a Mutual Fund.