We have used ING Direct for years for our savings accounts. They offer a decent interest rate, automatic transfers, and great customer service. There are no fees associated with their savings accounts, either!
I love that you can create several sub accounts and label them whatever you’d like. If you want to save up for a vacation, set up a ‘vacation’ account and automatic regular transfers.
Today only, they are offering a free $25 credit when you set up a new kid’s savings account and make a deposit (you can go as low as 50¢). If you are new to ING altogether, you might find that they want to verify your bank account information. In order to bypass this, give them a call and they will give you a one time use code to avoid that. In order to take advantage of this, either you or your kiddo must be a new customer.
Also, in order to get a FREE $103, all you need to do is set up a free checking account and make 7 debit card purchases within 30 days. Easy enough, huh?
Here’s how you need to get started:
1. Click here: ING DIRECT
2. Click ‘Learn More’
3. Click on the ING Direct logo in the upper left corner. It will take you to a page that has the same picture as above.
4. Click on ‘Learn More’.
5. Select ‘Earn $103’ or ‘Open a Kid’s Account’ (or both!)
6. Complete the registration process.
7. To get the $103, you’ll have to make 7 debit card purchases within 45 days. Make sure you add enough $$ to do that!
This is a SUPER easy to set up a savings account for your children. If you schedule a $2 deposit once a week, you will have nearly $2,000 saved up by your child’s 16 birthday (if you start as an infant). That ought to buy a starter car!