You taught them the basics Wash, Cook, Clean . . . Now give them the tools to manage their money!
Before you send your child to live on his/her own at college, it's a good idea that he/she establishes a checking account and learns how to use it correctly. This rite of passage should take place during your child's high school years. Here's how to get your student off on the right foot.
While there are alternatives, a checking/transaction account is what your young adult will probably be using for life. A Freedom Account can be opened as early as 16 years of age. Parents can be placed on the account as a joint owner providing you with the ability to:
- monitor the account with online and mobile banking
- teach them how to utilize a debit card
- set limitations with CardValet and
- make transfers quickly from your accounts to this account
Also, if a problem arises with the child’s account, you can easily visit your branch and get personal service to straighten things out. Once your young adult reaches the age of 18, you can easily remove the joint parent/guardian by visiting your branch.
Here are some of the features of the Freedom Account
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1 First custom image complimentary additional images $10 per issue.
2 Depositors under 18 will require a parent/guardian on the account to obtain debit card.
3 A fee may be charged by Non-Crest Savings terminal operators.
4 Available at Crest Savings Bank’s deposit ATMs only.
5 Acceptance of e-sign agreement required or $3 a month for printed statements.