Open Savings Account For Child Santander

Other atm fees may apply.

Open savings account for child santander.

All savings accounts can be opened in a santander bank branch and the santander savings account can be opened online. Fees apply if you exceed these limits and if you repeatedly exceed these limits we will close your account. If you re under 18 years old you can open a savings account for kids with a minimum deposit of just 10. Trustees must be aged 18 or over have parental responsibility for the child and have a santander personal current account.

1 no monthly fee for santander savings with any personal santander checking account or with 100 average daily balance in the santander savings account otherwise 1 00. 0 03 annual percentage yield apy is available when you open a santander savings account. For children under 13 years of age the account must be opened in trust by an adult trustee. Funds for an opening deposit can be paid with a credit or debit card a valid email address.

Opening a savings account for your child isn t much different from getting a new account yourself. A minimum deposit of 25 is required to open a santander savings account. Consider santander youth savings tailored for the needs of children with a legal guardian as a co owner. After opening the account the trustee must manage the account on behalf of the child.

1 you can withdraw funds from a savings or santander money market savings account no more than 6 times by computer telephone preauthorized transfer check or debit card purchase each service fee period. This is a variable rate account and the rate may change at any time. You ll need the same information if you re opening an account at an online only or a brick. Rates shown are in effect as of today.

To open an account you will need. 3 domestic atms are atms in the 50 united states the district of columbia and puerto rico. Fees may reduce earnings. Santander youth savings a first bank account for kids good habits begin early in life like saving your pennies.

A child can t have a child trust fund and a junior isa of any type at the same time so if you re opening a cash junior isa with santander and have a child trust fund elsewhere you must request to transfer it to santander. Opening a kids savings account can be a great tool to teach your child healthy financial habits but there are a few things to consider before running to the bank. Your social security number.