Three Things to Consider Before Opening Youth Account

Start Your Child's Financial Future on the Right Foot

Opening a youth account for your child is a major milestone. It marks the start of their personal financial journey — so it's important to be as prepared as possible before making that first deposit.

Here are three things to consider before opening your child's first youth account.

1. Assess the Fees. Some youth banking programs charge fees and others don't. Make sure you confirm this and check for any other costs like ATM fees or overdraft fees. Wescom Youth Banking and Youth Banking Plus are completely free. Plus, there's no overdraft fees and fee-free Wescom ATMs and 30,000+ ATMs through the CO-OP Network^® nationwide.
2. Review Benefits. Consider and compare all of the account features so you know what to expect when using the new account. Wescom Youth Banking and Youth Banking Plus offers a free designed debit card when they open a checking account,** account alerts to keep track of purchases, and Zelle^® to send and receive money to friends and family in the mobile app (Wescom Youth Banking Plus only; send up to $500 daily).¹
3. Go Mobile. Mobile banking is key for kids who are already connected digitally. Make sure the youth account is accessible through a mobile app to quickly check balances, make transactions, and monitor balances to help prevent fraud. Wescom Youth Banking and Youth Banking Plus are available in Wescom's Mobile Banking App.

Establishing a youth account for your child can empower them to take control of their finances later in life. The earlier you help your child save and talk to them about money, the better prepared they'll be for the future.