| Posted By |
Message |
maybeamommy
Blessed beyond belief
Member since 10/07 17048 total posts
Name:
|
Spinoff to Linda's post re: savings accounts
Sorry if this is a stupid question, but what are our options in terms of savings accounts for the baby?
Can a child have a regular Citibank account? We want an easily accessible account where we can deposit any money he gets for birthdays or whatever... but also where we can make deposits when we have the extra cash.
How do you go about opening an account?
And what are the other options besides a regular savings account?
TIA!
|
Posted 3/17/10 12:19 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
|
Re: Spinoff to Linda's post re: savings accounts
We have a checking account for DS at Bank of America linked to an ING savings account. (I think we did checking instead of savings because of the minimums.)
ETA: they are custodial accounts
Message edited 3/17/2010 12:25:43 PM.
|
| Posted 3/17/10 12:21 PM |
| |
|
A3CM
Avatar Title
Member since 9/08 3762 total posts
Name:
Mommy
|
Re: Spinoff to Linda's post re: savings accounts
we have a custodial account for each of the kids as well as a stock portfolio through fidelity.
its a reg savings account at citibank but they cant touch it until they are 18. only I am allowed to deposit and withdraw.
|
| Posted 3/17/10 12:22 PM |
| |
|
Linda1003
love my 2 boys
Member since 8/08 10923 total posts
Name:
Linda
|
Re: Spinoff to Linda's post re: savings accounts
Posted by AJandCJsMommy
we have a custodial account for each of the kids as well as a stock portfolio through fidelity.
its a reg savings account at citibank but they cant touch it until they are 18. only I am allowed to deposit and withdraw.
Hayley I think we are going to do this above but link it to an ING acct to get more interest.
|
| Posted 3/17/10 12:24 PM |
| |
|
maybeamommy
Blessed beyond belief
Member since 10/07 17048 total posts
Name:
|
Re: Spinoff to Linda's post re: savings accounts
Posted by AJandCJsMommy
we have a custodial account for each of the kids as well as a stock portfolio through fidelity.
its a reg savings account at citibank but they cant touch it until they are 18. only I am allowed to deposit and withdraw.
How do you open that?
Also, are you doing a walk for autism? I'd love to donate if you are 
|
| Posted 3/17/10 12:24 PM |
| |
|
maybeamommy
Blessed beyond belief
Member since 10/07 17048 total posts
Name:
|
Re: Spinoff to Linda's post re: savings accounts
Posted by Linda1003
Posted by AJandCJsMommy
we have a custodial account for each of the kids as well as a stock portfolio through fidelity.
its a reg savings account at citibank but they cant touch it until they are 18. only I am allowed to deposit and withdraw.
Hayley I think we are going to do this above but link it to an ING acct to get more interest.
How does that work Lin???
|
| Posted 3/17/10 12:25 PM |
| |
|
Linda1003
love my 2 boys
Member since 8/08 10923 total posts
Name:
Linda
|
Re: Spinoff to Linda's post re: savings accounts
Posted by maybeamommy
Posted by Linda1003
Posted by AJandCJsMommy
we have a custodial account for each of the kids as well as a stock portfolio through fidelity.
its a reg savings account at citibank but they cant touch it until they are 18. only I am allowed to deposit and withdraw.
Hayley I think we are going to do this above but link it to an ING acct to get more interest.
How does that work Lin???
Go to the bank and ask to open a costodial acct for your son. they will walk you thru it.. then go to INGDIRECT.com and follow the instructions to open an acct. I think there is a section for costodial accts (i have to check for myself too). Then you "link" it to the bank acct so you can transfer money from the bank acct to the ing acct which typically gives more interest then the banks. It's easy and it takes about 3 mins to transfer the money!! LOVE ING!!!
|
| Posted 3/17/10 12:28 PM |
| |
|
