- Check their balance
- Change their personal info
- Change their PIN
- Change their account nickname
- Create a personalized ‘Saver ID’
- Download their account history, tax forms and eStatements
These options will allow your children to feel a moderate sense of control with their account and encourage them to watch the account grow.
How to deposit money into your kid’s savings accounts
You can “link” another outside account (such as your PerkStreet rewards checking account) to your savings account with ING Direct. With that setup, the adult listed on the child’s account can then deposit money in any of the following ways:
- Set up an Automatic Savings Plan – Have money deposited on a regular basis. Just choose how much you want to deposit into your account and how often. This is an effortless way to pay a kid’s allowance.
- Make a deposit electronically – Use the ‘Transfer Money’ tab to make an electronic deposit from a linked checking account or other ING DIRECT account.
- Deposit cash – Deposit the cash into your external linked checking account. Then go online and transfer the money over to the kid’s account by making a deposit electronically.
- Deposit a check – Write your account number on the check, drop the check into an envelope and mail to ING Direct.
What happens when the child turns 18?
When the child on your Kids Savings Account turns 18, the account will automatically convert to an Orange Savings Account. ING will send instructions to the new adult on how to set up a link so they can continue to contribute to their savings plan … and teach their children to be savers!