ABC Youth Savings
When your child starts saving from a young age, it can build a life-long habit that leads to long-term financial success. Our Youth Savings Account is designed to make it easy for young savers to begin their savings journey—and continue it for life.
Why Saving Early is So Important
When you help the child in your life get started on saving, the benefits grow alongside their nest egg. Saving early can help them:
- Make the most of every dollar. The earlier your child starts saving, the more time their money has to grow. Compound interest amplifies every chore dollar and birthday check.
- Learn financial responsibility. Saving helps kids develop good money habits, teaching them the value of budgeting and planning for the future.
- Start their journey to independence, one step ahead. When your child is ready to buy their first car, head off to college, or start out on their own, they’ll already have a jumpstart with a healthy financial cushion.
How it Works
How it Works
- Savings accounts for minors are custodial accounts—a parent or guardian will need to be the co-owner on the account.
- To open an account, visit your local branch with your child. Be sure to bring identification (a state-issued photo ID for yourself and birth certificate or Social Security Card for your child) and an opening deposit to your appointment.
- Manage the account easily with online and mobile banking (verify this exists). Digital banking can allow you or your child to monitor savings and make deposits, right from home or on the go!
The Details
Minimum Opening Deposit: $25
Monthly Service Charges: None
Eligibility: Individuals 0 – 18 years old
Transaction Limit: 30 per month ($2 fee for each additional transaction)
Minimum Balance Required to Earn Interest: $25
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Easy Saving Starts Here with ABC Bank
A youth savings account at ABC Bank is designed to help young savers build strong financial habits early. With easy access and no monthly fees, it’s the perfect way for kids and teens to learn how to save and manage their money responsibly.
Have questions about an account or need help choosing one? Stop by your nearest Texas ABC Branch in Addison, Austin, Lubbock, Wolfforth or one of our Colorado branches in Pueblo and Colorado Springs with your child. You can also call us at 1-888-902-2552.
