How do you set up a savings account for a child?

How do you set up a savings account for a child?
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1 Answer

Answer :

Any bank officer will help you. Try to find the best interest rates online as well.
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Related questions

If you had just enough money in your savings account to pay off your house, would you?

Description : If you had just enough money in your savings account to pay off your house, would you?

Last Answer : It would depend on the interest rate, @chyna, and other things like they type of loan, how much equity I had in the house, amount of mortgage payment, value of the home…

What is the difference between a savings and a money market account?

Description : What is the difference between a savings and a money market account?

Last Answer : Vanguard Money Market Funds pay better interest than most savings accounts; plus they offer the convenience of check-writing privileges. Check out vanguard.com for your state; If you are interested in long- ... rates for savings and CDs. Capitalone has a good MM rate if you use their Master Card.

Banks in the US, active with the FDIC, only insure $100,000. So if a person has, for example, 10 million dollars and wants to deposit the money in a bank, does he have to look for 100 banks or is there another way to invest that is as low risk as a savings account?

Description : Banks in the US, active with the FDIC, only insure $100,000. So if a person has, for example, 10 million dollars and wants to deposit the money in a bank, does he have to look for 100 banks or is there another way to invest that is as low risk as a savings account?

Last Answer : A person with 10 million dollars probably has a diversified investment portfolio with a variety of risk levels and return levels. As a result, his insurance is that not everything will collapse at the ... 10% above inflation, banks are a very poor choice for someone with lots of money to invest.

When they say American's savings are up, what exactly are they counting?

Description : When they say American's savings are up, what exactly are they counting?

Last Answer : Here is a technical but not inaccessible explanation of the econometrics of savings.

What is your household salary tipping point for savings?

Description : What is your household salary tipping point for savings?

Last Answer : My only discretional income is from food. If I don’t order out in a month then it goes to savings. I have no car, house, mortgage, wife or kids.

If Forbes magazine ranked everyone in the planet for income or savings where would you be?

Description : If Forbes magazine ranked everyone in the planet for income or savings where would you be?

Last Answer : Does that take cost of living into account?

I have $6,000 in my savings and want to invest it. Any ideas?

Description : I have $6,000 in my savings and want to invest it. Any ideas?

Last Answer : Have you paid off all your credit card bills and high interest loans? Unless you are a fortune teller (or connected) the market is a risky place. Firearms manufacturers seem to be doing quite well. But your mileage may vary.

Where can I find information about managing savings, and spending less?

Description : Where can I find information about managing savings, and spending less?

Last Answer : ps, off to work, I’ll drop in to hand out lurve and responses later tonight

How should I grow my savings?

Description : How should I grow my savings?

Last Answer : Try a credit union. Banks suck.

Can a teenager sign up for a PayPal account?

Description : Can a teenager sign up for a PayPal account?

Last Answer : You might not be able to, because PayPal would probably resist issuing one to someone too young to legally enter into a binding contract without parental or guardian support.

Any advice on setting up your first IRA account?

Description : Any advice on setting up your first IRA account?

Last Answer : answer:I don't know a lot about IRAs, but I Will Teach You To Be Rich is a great resource for learning about finances and investments. Just go there and search for Roth IRA and you'll come up with ... 're a good place to check into. They've also got some good basic FAQ on IRAs on their website.

Have you ever made use of the option to withdraw money from your bank account at the supermarket checkout?

Description : Have you ever made use of the option to withdraw money from your bank account at the supermarket checkout?

Last Answer : Yes. It costs me 50 cents to make a withdrawal of any amount of money in excess of my bill. I have done it a few times for the convenience, but I hate paying a fee.

Can you send money to someone that doesn't have a bank account?

Description : Can you send money to someone that doesn't have a bank account?

Last Answer : You can send cash per mail.

Although I'm no longer employed, I have a 401K account through a former employer. Is there a way for me to continue contributing to that 401K account?

Description : Although I'm no longer employed, I have a 401K account through a former employer. Is there a way for me to continue contributing to that 401K account?

Last Answer : I am not a financial wizard or anything, but I’m pretty sure you can not continue contributing to that account. Have you looked into rolling it over into an IRA and then you can add your contributions to that IRA.

Where can I get a loan without opening an account?

Description : Where can I get a loan without opening an account?

Last Answer : How do you figure on getting a loan without opening an account with the lender?

If you do have a bank account, can you close it so the IRS can't put a levy on it?

Description : If you do have a bank account, can you close it so the IRS can't put a levy on it?

Last Answer : Set up a blind trust controlled by someone you can absolutely trust, and move the funds there. You can also use the courts to protect you from a levy that would leave you unable to pay for the basic requirements, like a roof over your head, food, transportation, employment costs, utilities, etc.

How do I accept foreign funds into my Paypal account, and then what?

Description : How do I accept foreign funds into my Paypal account, and then what?

Last Answer : paypal is really easy all the payer needs is your email address. Then you go into paypal and have the money deposited into your bank account. I am assuming you have a paypal account? If not, it’s easy to set up.

How to setup my Paypal account to automatically withdraw money from my bank account?

Description : How to setup my Paypal account to automatically withdraw money from my bank account?

Last Answer : answer:In Paypal, Go to Profile Once in your profile, on the left side of the screen under My Personal Info click on My Money Once in My Money Bank Accounts should be the first listing you ... never transferred money into my account. I just have a bank account set as my primary form of payment.

What is a mortgage account number?

Description : What is a mortgage account number?

Last Answer : answer:I guess you can write to pretty near anyone and tell them pretty much anything you want. But if you expect to stay in the house, then you'd better pay off on the mortgage. Mortgages ... or should have received) a notification of the change as a normal part of the mortgage holder's business.

Should I get an account at a credit union/bank or just manage my money with an account?

Description : Should I get an account at a credit union/bank or just manage my money with an account?

Last Answer : answer:Banks/Credit Unions are safer. Credit unions have great programs that will earn you interest. Here's the problem: The money sitting in a jar under your bed (or wherever) is actually decreasing in ... funds in a savings account at a minimum, but an IRA or some other investment is even better.

If I made a deposit this morning and my account says the money is "pending," can I make purchases greater than the amount in my bank account?

Description : If I made a deposit this morning and my account says the money is "pending," can I make purchases greater than the amount in my bank account?

Last Answer : can I make purchases greater than the amount in my bank account? one would imagine not…

Is it difficult to transfer money from a Canada bank account to an American bank account?

Description : Is it difficult to transfer money from a Canada bank account to an American bank account?

Last Answer : No its very easy, you need Receiving bank's account number, routing number, IBAN number, SWIFT code, they bank name and bank address The person you are wiring should be able to call their bank and ... the most of the info is on the check except the SWIFT code, IBAN number and the bank address.

Is there a limit on how much money I can deposit in my bank account?

Description : Is there a limit on how much money I can deposit in my bank account?

Last Answer : answer:No you would have to give some of it to me. :D Googling resulted in a mention of a $100,000 cap of the FDIC would cover. So, I think @WestRiverrat has it right.

How is a debit card with a checking account different from this >PASS card?

Description : How is a debit card with a checking account different from this >PASS card?

Last Answer : It's like a cross between a checking account and a gift card. With a pre-paid card, your parents deposit money onto the card, and can reload more money as you spend it down. In that way it's ... costs $50, your card will be declined and you will have to find another way to pay for your purchase.

What happens if a post-dated check is accepted and processed to my account before the due date?

Description : What happens if a post-dated check is accepted and processed to my account before the due date?

Last Answer : I would have thought so. Give them a call and see how it goes.

How do I endorse a check made out to me so that someone else can cash it or deposit it to their account?

Description : How do I endorse a check made out to me so that someone else can cash it or deposit it to their account?

Last Answer : Third Party check: Second party signs and then puts “Pay to the Order of” name on back of check? Third party then endorses below and submits to bank. http://www.bankingquestions.com/checkingaccounts/q_3rdpartyckhtml.html

I'm having trouble recieving a direct deposit into my account, what should I do?

Description : I'm having trouble recieving a direct deposit into my account, what should I do?

Last Answer : I know that generally speaking the first one can take longer than usual as they are getting everything set up. Does your bank acknowledge a pending deposit at all? If not I would go over all of ... has all the correct information as well. How long has this deposit been in the process of happening?

Can I Put Money In paypal Without an bank account/credit?

Description : Can I Put Money In paypal Without an bank account/credit?

Last Answer : no it has to be linked to credit card- I think a prepaid card works but when I opened a paypal acount it asks for your bank account info

How do I minimize the hit when trying to put euros into my US checking account?

Description : How do I minimize the hit when trying to put euros into my US checking account?

Last Answer : I’m a little confused.. is this ‘hit’ coming in the form of the exchange rate.. a wire transfer fee.. i’m not really sure what in particular you are referring to.

Can I deposit a rebate prepaid debit card into my bank account or do I have to spend it at a store?

Description : Can I deposit a rebate prepaid debit card into my bank account or do I have to spend it at a store?

Last Answer : you could spend it on groceries… that way it wouldn’t be something you don’t need.

Which bank should I open an account with?

Description : Which bank should I open an account with?

Last Answer : Just don’t use Bank of America! We’ve had so many problems with them!

Turned down for a free checking account?

Description : Turned down for a free checking account?

Last Answer : Just a guess but a lot of checking accounts come with overdraft protection, which is essentially a line of credit. Even without overdraft protection, a poor credit rating is probably considered an ... to bounce checks. Bounced checks and the associated hassle are costs for the bank as well.

If i send money through my bank account in Bank of America can i have a receipt that i can print where i can prove that the other person got the money?

Description : If i send money through my bank account in Bank of America can i have a receipt that i can print where i can prove that the other person got the money?

Last Answer : Send money how? Like a wire transfer? The bank will provide you with a receipt of the transaction. If you somehow don’t find a way to print one online. Call them or go to a branch and they can provide it as well.

How does my bank account interest work?

Description : How does my bank account interest work?

Last Answer : Tthe acronyms are a little different in the UK than the US, but I could make a rough guess and say that you'll be making somewhere around 5% annually (if that's tax free, that seems quite good). For £1000 ... a year or £4.16 a month. That's not an exact answer, but it should be in right ballpark.

Someone took money out of my account.

Description : Someone took money out of my account.

Last Answer : answer:i’m assuming your not with a major bank. i’m with US Bank and they have 24 hour service and i’m not liable for any fraud on my account. i have had my debit card stolen and used and didn’t have to pay a thing.

What does a sizeable bank account mean? How much is a sizeable amount?

Description : What does a sizeable bank account mean? How much is a sizeable amount?

Last Answer : There's probably not a set definition, but what it makes me think of is whether: a) you have enough that you never have to work again, b) you have enough that you can make major purchases ... do/accomplish during your lifetime? Of course, money isn't the only tool that can make these things happen.

Do you know any banks that do not charge monthly fees for not meeting minimum balance requirements for a small business account? Or a recommendation of a good small business bank, period?

Description : Do you know any banks that do not charge monthly fees for not meeting minimum balance requirements for a small business account? Or a recommendation of a good small business bank, period?

Last Answer : Sovereign Bank had Free Business Checking a few years back… I’m not sure if they still do. Have you done a web search for “free business checking”?

How much money do you keep in your checking account?

Description : How much money do you keep in your checking account?

Last Answer : answer:We try to keep two weeks salary in our checking account at all times. Currently it is a bit lower because we're moving and having to pay bills for both places, but that's our comfort level. As ... the rest of your question, I can fully admit that I am not the person to be handing out advice!

If it's not in my PayPal account and not in my bank account...

Description : If it's not in my PayPal account and not in my bank account...

Last Answer : To transfer money to your bank account they say that it can take a few days. I think it's because they just want to hold on to your money longer! I went ahead and got the pay-pal debit card. I can ... actually give me a little bit of money back. It didn't cost anything so it was worth it to me.

How much does it cost society to raise a child to adulthood?

Description : How much does it cost society to raise a child to adulthood?

Last Answer : I'd say there are a lot of variables here. When you say any country, there are countries with a high cost of living and there are places to live where the cost may be little. You can raise ... costs more, and that all depends on whether it's a state school or a private college, scholarships, etc.

What do you think would be a good amount to leave each child in your will?

Description : What do you think would be a good amount to leave each child in your will?

Last Answer : That depends on your circumstances, and your relationship with the kids. If you also want to earmark something for charities or whatever, decide if how much of a percentage they would get.

If a man has to pay child support for a child he did not want, should he have the option to request an audit to see how his support money is being spent?

Description : If a man has to pay child support for a child he did not want, should he have the option to request an audit to see how his support money is being spent?

Last Answer : A judge decides child support. My sister has 13 year old twins with her ex. He makes 60K a year and only has to pay 1K per month. It isn’t like it is some onerous amount. Golf clubs for the new boyfriend. Same stupid Republican shit like welfare queens rocking a Bentley. LIES!!!

Child Tax Credit?

Description : Child Tax Credit?

Last Answer : If you look at the bottom of the link you posted, there is a link to pub 972 which has a worksheet. Basically, you take 110k off whatever your AGI is, so let's say your AGI is $130k. You take ... Or for any number inbetween there, you basically lose $50 of the credit for every 1,000 in income (5%).

My stack dryer is kaput. Washer is okay. Do I have to buy a set?

Description : My stack dryer is kaput. Washer is okay. Do I have to buy a set?

Last Answer : If you have a little bit of extra space in your home, get one of these.

Given the state of the economy, what do you think about the fact that we're going to set another record for ********* spending?

Description : Given the state of the economy, what do you think about the fact that we're going to set another record for Christmas spending?

Last Answer : Hey, that is great news Joker! Hopefully, this means we are coming out of this recession for good!

Drummers, what should I consider when buying my first drum set?

Description : Drummers, what should I consider when buying my first drum set?

Last Answer : How much experience do you have with being a drummer? If you have already been learning then you probably have a better idea about how much you want to continue to be a drummer and thus would be buying ... kit (so you won't disturb the neighbors) or drum pads to practice on until you get better.

How much money would set you for life?

Description : How much money would set you for life?

Last Answer : answer:I don't think i'd be happy just living off of a mass amount of money. I'd need to be at least educating myself. That'd up the cost significantly. So this question, for me, really ... I would hate for my situation not to change throughout my life, though. That seems a boring existence indeed.

Benefits To Setting Up An Education Savings Account?

Description : Benefits To Setting Up An Education Savings Account?

Last Answer : There are many benefits and few pitfalls to creating an education savings account. With a great education savings account, you will be able to ensure that you are putting away money for your own college ... however, that there are many benefits for those who choose to use them. Don't miss out.

Is it normal to get $0.01 interest on $750 savings account?

Description : Is it normal to get $0.01 interest on $750 savings account?

Last Answer : Sounds normal. Interest rates are so flipping low. You could shop around for a higher rate somewhere.

What type of savings institution pays the most interest on a savings account?

Description : What type of savings institution pays the most interest on a savings account?

Last Answer : In the US, there are all sorts - like dozens and dozens - of banks that are offering 2.50 or 2.60% on money these days. Go to https://www.bankrate.com and click on either Savings ... but there are some mild restrictions on how many transactions per month. Really easy to find alternatives these days.