Children's Savings Account
Learn to save at a young age!
Allow your child 18 years or younger to learn what a savings plan is all about.*
Product Features
- No minimum to open
- Interest is earned on the entire balance
- $2.00 charged for each service-chargeable debit over 6 during the quarterly statement cycle¹
- $.07 charged for each item deposited over 150 during the quarterly statement cycle
Terms and Conditions
Accounts opened for individuals younger than 14 must be opened under the Uniform Transfer to Minors Act (UTMA).
*The Children's Online Privacy Protection Act (COPPA) was passed to give parents increased control over what information is collected from their children online and how such information is used. The law applies to websites and services directed to, and which knowingly collect information from, children under the age of 13. Suttonoffshore's websites and online services are not directed to children under the age of 13, nor is information knowingly collected from them. For additional information on COPPA protections, link to the Federal Trade Commission's website at www.ftc.gov/privacy/privacyinitiatives/childrens . For further information, the Federal Government has created a Web site, Kidz Privacy, aimed at educating both parents and children about the dangers of the Internet and how to browse safely.
¹You may make no more than six transfers and withdrawals, or a combination of transfers and withdrawals, per monthly statement cycle (or each month if you have a quarterly statement cycle). Transfers and withdrawals include preauthorized or automatic transfers, telephone transfers, online banking and mobile banking transfers, and transfers by check, draft, debit card or other similar transactions from your account.
