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What is the best way to get your kids to respect money and learn how to properly manage it? A piggy bank? How about a new type of bank account from Boiling Springs specially tailored for new bankers aged 14-23? That sounds better. The account is called a Boiling Springs Savings Bank Student Checking Account.
This account features:
No monthly fees
Interest earned on all balances
Free specialty checks or a discount on custom checks
Free online banking
Free online bill payment
Free 24-hour telephone banking
Minimum deposit to open account is $1.00
Free transactions at Boiling Springs ATMs with Boiling Springs ATM card or Debit MasterCard
Direct deposit
Overdraft protection transfer service available
At age 23, account will convert to a regular NOW account
Also, there is a promotion going on right now called, “Gift for Garden State Grads”, which runs through June 30, 2015. When a student opens a new Student Checking Account with more then $20.15, they gain and extra $20.15 in interest, just for opening the account. This is a great deal and a wonderful way to teach kids the value of saving with real money- with a great bonus.
Combining a student checking account and a part time job or an allowance will do wonders for kids when learning the value of money. Nothing quite beats that first paycheck placed in your bank account and the nervousness of spending the first few dollars of it. The ability to see your money grow and shrink as life demands is a learning experience, and balancing a check book for the first time is also an interesting teaching/ learning experience. This account is also perfect for a young adult first getting into banking and money management while going away to college or their first full time job. No matter what the reason behind it Boiling Springs is a great first stop for your student banking needs.
$1 is great. I love that they’ve made it so low for the kids. It really is a great way to teach them when they can actually have their own account.
looks like a great option. my daughter has a savings account. I think she has more than me in it.
I remember when my Dad took me in to the bank for my first savings account. I thought it was so super-cool. My kids are still a bit young, but you best bet I will be taking them in and setting them up with one 🙂 Thanks for posting.
This sounds like a great learning opportunity for kids. Our school has a little banking program for kids, but it sounds like this one has lots of great features. Great to start learning about this stuff early!
All my kiddos have savings accounts and I am so glad they are already learning to save. I am hoping that one day they can use it towards auto expenses or school books.
hey ,thats a good bank account and it is good to teach children the value of money and the importance of saving.
you know honestly i wish they had this type of thing when i was a kid.
probably would have kept me from declaring bankruptcy so soon.