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BugTeeny 
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 Topic: Bank accounts for kids
Posted: 27 January 2009 at 8:58pm |
Hannah was given some money for her birthday.
DH and I were going to spend it on toys/clothes, but she was so spoilt that we've decided to start a savings account for her instead.
Which bank and which account do you use for your kids?
And just to be extra nosey, why? (no fees? high interest? Bonuses for regualr deposits? etc)
TIA 
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BugTeeny
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Posted: 27 January 2009 at 8:59pm |
Oh man.
My spelling sucks.
Can this be changed to "accounts"?
Hee hee... done! ~Katherine
Edited by Katherine
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arohanui
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Posted: 27 January 2009 at 9:01pm |
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Lol there must have been a rude typo in the title! Awesome!
We just opened another account with the bank we're with... we really should research and find out the best sort though, so I'll be watching this thread with interest.
We do have a savings account with RaboPlus actually that I'm thinking we should change Harry's account over to. It's quite a high interest rate (sorry can't remember how much) and you can only 'get money out' by transferring it to your normal bank account.
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BugTeeny
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Posted: 27 January 2009 at 9:03pm |
hehe Liz, the typo certainly tickled me
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arohanui
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Posted: 27 January 2009 at 9:04pm |
Really, you did it on purpose didn't you 
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BugTeeny
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Posted: 27 January 2009 at 9:10pm |
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busymum
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Posted: 27 January 2009 at 9:25pm |
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Hahaha the typo gave me a giggle!!
We have our girls' savings in our own savings account and I keep a spreadsheet at home so that I know how much is whose: mostly because we have a weekly amount from our budget towards each of the kids' savings. That way I feel everyone gets the best interest/fees because it's all together.
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peachy
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Posted: 27 January 2009 at 9:25pm |
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We just opened an account with the same bank that we bank with when Lauren was born. Her account is attached to my online banking so I can access it easily.
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Freesia
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Posted: 27 January 2009 at 9:42pm |
We opened one for Livvy with our same bank. It's not a kids account specifically but it's a higher interest account and has no fees if the balance is a certain amount and no withdrawals. It's under her name but both DP and I have authority on the account. We're hoping to not tell her about it until she's of an age where she'll actually spend it wisely and not blow it on a party or something like that.
It's quite depressing though, she already has more money than we do 
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lizzle
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Posted: 27 January 2009 at 9:42pm |
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we are in the process of opening the boys an account with PSIS - no fees!!! Yah!!
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Bobbie
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Posted: 27 January 2009 at 9:47pm |
I set Rowan's up with ASB as we're with them and they have set it up so that I can manage her account via our internet banking account.
Honestly I joined with them because they gave $10 a balloon and a Kashin money box. Yeah I'm easily bought
OK actually it was just convienience because I was setting up KiwiSaver for her through them.
ETA: The thread title made me chuckle
Edited by Bobbie
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Snappy
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Posted: 27 January 2009 at 9:51pm |
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Ive just opened an Account for Janaya at National Bank, if we put in $20 they will top her up with another $20. I think the promotion is only running for this week.
There are no fees either. Always a bonus.
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Bobbie
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Posted: 27 January 2009 at 10:02pm |
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oh yeah the ASB one has no fees either and reasonably high interest.
Wow kaiz that's a good promo!
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jack_&_charli
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Posted: 27 January 2009 at 10:52pm |
our kids have an account with kiwibank....don't ask me why.....i think it was just that i was wanting an account for our renovations that i couldn't touch and i got talked into opening a couple of kids accounts at the same time
so don't ask me what the rates are etc.....no fees that's all i know 
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Snappy
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Posted: 28 January 2009 at 7:51am |
 Bobbie wrote:
Wow kaiz that's a good promo! |
SURE IS!
National have a Green Ribbon promo going until the 5th February. There are a few good deals going at the moment, if you open an e-saver account you get a special premium interest rate. And there are some home loan and credit card specials going too.
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fire_engine
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Posted: 28 January 2009 at 8:12am |
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Oooh, thanks for the tip about NB. We have $20 sitting here that Daniel was given for Christmas!
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Mum to two wee boys
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lilfatty
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Posted: 28 January 2009 at 8:25am |
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Issy has an account at the NBNZ .. but I transfer out of it on a weekly basis to her Raboplus account.
Basically the NBNZ is kind of a "holding" account as its easy for us to deposit into.
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I did it .. 41 kgs gone! From flab to fab in under a year  LFs weight blog
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Peace
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Posted: 28 January 2009 at 8:54am |
We're with ANZ for 4.5% (can't remember the name of the account but it's not the typical kids account they do) and when the $$ gets to $2000 we can move it into a 7% account
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DD1 May 2006
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ElfsMum
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Posted: 28 January 2009 at 9:32am |
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I'll have to read this all properly later on but can i open an account in a bank we aren't with..we don't want him stuck with Westpac like us and we are in the same situation as MP.. lol at typo I can imagine:)
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BugTeeny
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Posted: 28 January 2009 at 10:10am |
hahaha thanks Katherine 
And thanks for your replies.
I might have a chat to a few different banks first
In the meantime, the cheque is written out to me, so it's all mine
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Bank accounts for kids
