Money is very important to teenagers. That is why we created the iSavings Account. We wanted to have an account that would motivate them to save and not just spend…but if you are a parent of a teenager, you already know how hard that is! We even have some great links for teens on our Games & Fun page. They can go to age-appropriate sites and play games, do research and they might even learn more about money and the importance of saving.
We make it very simple. The minimum deposit to open an iSavings account is $10.00. There is no quarterly maintenance fee. The first 7 debit items are FREE. After 7, an excessive activity charge of $2.00 will be incurred per debit item for that quarterly statement cycle. For every day that your balance is $10.00 or more,you earn interest at the current rate for the iSavings Account. Interest is compounded quarterly.
At the age of 18, the account will be changed to a Regular Savings Account