They can also establish multiple accounts, letting them track multiple savings goals simultaneously. Your child can set up an automatic savings plan to move money to their savings account on a set schedule. Children can view their account balance, but an adult co-owner must sign in to transfer funds. Parents can schedule allowances, make deposits, link their accounts, and deposit checks in their child's name via the mobile app. You can earn 2.50% on your money, and there’s no minimum deposit required to open or maintain the account. It’s available to children under 18 and adults who co-sign onto it. Capital One Kids Savings AccountĬapital One offers a high-yield savings account with no fees or minimum balance requirement, making it an excellent choice for kids who want to see their balance grow over time. We’ve compiled a list of some of the top savings accounts for kids to help you make the right choice. ![]() With so many savings accounts on the market, choosing the right one can take time and effort. Kid-focused savings accounts offer a chance for youngsters to learn about money and build financial habits. Luckily, there are financial tools available to help parents teach their kids about money management. Parents play a crucial role in shaping their children's money behaviors, as these habits are often established at an early age. This content does not include all available financial offers, and compensation may impact how and where links appear in the content. Fox Business and its content partners earn compensation from the affiliate companies that appear below. Please see for additional information.Advertiser Disclosure: Content provided by. All business accounts owned by a corporation, partnership, or unincorporated association at the same bank are insured up to $250,000 per business, separately from the personal accounts of the owners or members. A sole proprietor’s business and personal accounts at the same bank are all insured together up to $250,000. Promotional interest rates not applicable to converted accounts. Capital One reserves the right to limit the number of promotional Business Advantage Savings accounts per business taxpayer ID number, including for customers that have previously had a promotional rate, in which case additional accounts will earn the standard rate. Interest is calculated using the actual number of days in the monthly cycle divided by the actual number of days in the year. Interest earned is compounded monthly and will be credited on the last day of each cycle. Standard rate is variable and subject to change at any time without notice (current standard rate is 0.1%). Upon expiration, an interest rate no lower than the standard interest rate in effect as of that date will apply to the entire balance. Promotional rate will expire 183 days after account opening. Advertised promotional rate is current as of Octoand is subject to change at any time. A lower rate will apply to any portion of balances above $5 million, which will be the currently effective non-promotional rate for this product. For example, a balance of $25,000 would receive 1.0% interest on the first $10,000, and 4.1% interest on the remaining balance of $15,000. The promotional rate of 4.1% applies to the portion of account balance between $10,000 and up to $5 million. The promotional rate of 1.0% applies to the first $10,000 of an account balance. The promotional rate is available to new accounts only and varies depending on account balances as described in the rate table. ![]() All applicants are subject to review of past account handling and verification of the information provided.You must be at least 18 years of age and must be a legal U.S. ![]() Other important information you need to know:
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