Key4Kids® Savings Account review

Updated October 9, 2023.

In this digital age, new generations have more options to start their banking process before they reach the age of majority. If you want to teach your children or nieces and nephews the importance of saving, you can start with the Key4kids account, a modern and simple way for them to learn good financial habits during their adolescence.

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Commissions

Account management:	$ 0
Check deposit:	Consult
Check writing:	Consult
Transfers:	Consult

Profitability

APY:	0.01%
Rate of interest:	Fixed
Interest settlement:	Monthly

Advantage

Checkbook:	No checkbook

Requirements

Minimum deposit:	$ 10

Additional information of Key4Kids Savings Account

In general, KeyBank's Key4kids account is an easy-to-use savings instrument and is designed for anyone who can handle the internet. All that is required to obtain it is a deposit of at least $10, being a customer of this bank and acting as the guardian or responsible party for the minor who will be the account holder.

As with most of their savings banking products, this account offers you an APY of 0.01% on your daily balance. This means you can earn more dividends as you make more deposits. Compounding interest every day makes your money grow at a faster rate than those calculated on an annualized rate.

To be part of KeyBank is to have the attention and advice of one of the most important banks in the United States. In addition to its online banking services and its mobile app for devices such as smartphones and tablets, it has an ATM network of more than 4,000 ATMs distributed in 15 states across the country.

Giving the little ones at home the opportunity to save and learn the value of money can be an important lesson for their future independence.

Español: Cuenta Key4kids para menores

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