What is a Youth Savings Account?
A Youth Savings Account at Zing is the perfect way to introduce good money habits early. It's a simple, fun way to build savings for kids while teaching them the value of saving for the future. With features designed just for young savers, they'll be on the right path toward financial confidence.
Youth Savings Account
Milestones are important. The first onesie. The first birthday. And yes, the very first savings account. Open one today for your child, starting as early as age zero.
- Ages 0-12
- Open with just $5
- Earns interest at $100
Teen Accounts
Give your teen a true sense of independence without keeping yourself up at night. You can open both a savings and a checking account if desired.
Since you have joint ownership on the account, it’s easy to monitor activity from wherever, whenever—just in case someone decides to go on a video game shopping spree.
- Ages 13-18
- Free VISA debit card with Checking Account
- Joint ownership with parent or guardian
- Easy to monitor with Online and Mobile Banking
Benefits of a savings for children
Promotes Financial Responsibility
A savings account for kids instills a sense of financial responsibility. By encouraging children to save a portion of their allowance or earnings, they learn the importance of setting aside money for future needs or emergencies. This lesson fosters good saving habits that will benefit them throughout their lives.
Teaches the Value of Money
Saving teaches children the value of money and the effort required to earn it. Watching their savings grow over time makes them more aware of the worth of every dollar. This understanding helps them make informed decisions about spending and saving in the future.
Provides a Head Start for Future Financial Goals
A bank account for kids gives children a head start in achieving their future financial goals. Whether they dream of buying their first car, pursuing higher education, or starting a business, having a savings account allows them to accumulate funds over time. This early start can significantly impact their ability to achieve these goals.
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Here's how it works
Come on by
Stop by the branch or open an account online.
Know what you'll need
Bring in or upload documentation to verify the child's identity and the parent or guardian's relationship to the child; the child's birth certificate, social security number, and proof of address.
Get your card
That’s it! For teen checking accounts, we'll send out a debit card. You can manage any account you open on the MyZing App.
I absolutely love Zing. I have never had any issues and if there were any, Zing helped me to find a solution every time. I can’t begin to say how thankful I am for the services they have provided that has tremendously helped me out as a single mother. I will continue to be a customer to this bank and would definitely recommend others be a customer as well.
Destiney R.
Resources
Order Checks
ID Safe Choice
Direct Deposit
Frequently asked questions
Yes!
No, there are no fees associated with our youth saving account for children.
Yes, parents can easily monitor and manage their child’s savings account. We provide a user-friendly online banking platform that allows parents to track their child’s transactions, set savings goals, and even automate regular transfers to the account.
You can open a youth savings account from birth until 12. Teen accounts are available from 12-18 years old. However, parents or legal guardians must open an account on behalf of their children.
