Bank Accounts for Children
07/15/2026
Bank Accounts for Children
Some of the most valuable financial lessons happen through everyday experiences. One of the simplest ways to help children begin building financial confidence is by opening their first bank account.
A savings account gives children a safe place to keep the money they earn, receive as gifts, or save for future goals. More importantly, it creates opportunities for parents to have regular conversations about spending, saving, and making thoughtful financial decisions.
As your child begins using a bank account, consider discussing a few basic money concepts:
- Set savings goals. Whether they’re saving for a new toy, a game, or something bigger, having a goal helps children learn the value of patience and planning.
- Talk about needs versus wants. Everyday purchases provide opportunities to discuss making thoughtful choices with money.
- Encourage regular saving. Even small deposits can add up over time and help establish lifelong savings habits.
- Show them how banking works. Explain how deposits, withdrawals, and account balances work so they become comfortable managing money in a secure environment.
Different financial institutions have different rules for minor accounts. The age, type of accounts available, as well as parent involvement varies from bank to bank. It is worth speaking to an account representative to see what options are available to you. They may also have some suggestions for custodial accounts or Certificates of Deposit that may also be available. If you would like to learn more about our SmartStudent Checking account, open to children 14 years or older* visit https://www.thesavingsbankohio.bank/personal/personal-checking/smartstudent-checking.html.
The most effective financial literacy education builds confidence one lesson at a time. By introducing children to banking early and teaching them about banking concepts, parents can help lay the foundation for confident financial decision-making that will benefit them for years to come.
If you’re looking for more information about what options may be available to you and your family, our team will be happy to answer your questions and help you choose an option that best suits your family’s needs. It’s a small step today that can make a big difference for them tomorrow. Call us at 1-800-582-2265 or visit us online at www.TheSavingsBankOhio.bank today!
*Ages 14 or older with proof of student enrollment such as a student ID, report card or official school document is required, and a parent or guardian also must be on the account if the student is under 18.