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Kids’ Bank Account Savings

Piscataqua Savings Bank offers a unique kids savings account program for our younger customers, with touchpoints and resources for three different age groups.

Start Early

Learning the multiplication table or how to do laundry isn’t exactly fun, but learning about money can be. A children’s savings account is an excellent tool for teaching financial literacy, providing hands-on experience and valuable money management skills.

With three different age groups served and a set of resources for each, Piscataqua Savings Bank is your trusted partner for teaching your kids the fundamentals of financial literacy.

Benefits:

    • The Kids’ Bank savings interest rate is always 0.25% higher than a regular “grown-up” account, with no fees, ever.
    • Kids have access to our popular coin exchange machine.
    • Friendly bankers, programs and online resources help teach children about money.

Kids Bank Services

Ages: 0-8
Accounts: Savings

Meant for the littlest of our littles, Explorers builds the foundation for financial literacy through a child’s bank account. Your young one can open their first bank account and learn the importance of regular deposits. Friends and family members can also contribute!

    • Teach your child about savings — watch that birthday/holiday money grow!
    • Develop a basic understanding of currency, its value and the concept of saving and fostering healthy money habits.
    • Parents, grandparents, or guardians can make deposits via mail, through Zelle (or ACH depending on their bank), or in-person
    • Enjoy visits with our friendly banking bear, B.A. Saver.

Ages: 9-13
Accounts: Savings

Our Voyagers set sail with their savings accounts. Children’s savings accounts for this age group often feature low or no fees, interest on deposits, and parental oversight, ensuring benefits tailored for minors.

This program builds upon what your young one has learned in Explorers by teaching them to begin to set both short- and long-term financial goals.

    • Fun challenges help kids see how much they can accumulate over time.
    • Kids gain more freedom with purchases and decision-making, as they take a more active role in spending and saving.
    • Plan short/long term financial goals

Ages: 14-18
Accounts: Savings + Checking

And they’re off! Prepare your young adult for the real world by setting them up with their first checking account and the tools they need to navigate their first major financial decisions and needs. After this stage, young adults may switch to an adult checking account.

    • Young people gain instruction on what’s next: direct deposits, taxes, credit cards, student/car loans, long term goals, etc.
    • They can make use of direct deposit for paychecks.
    • They learn how to use tools like Zelle.
    • They get control of bank cards, while parents/guardians still have access to their accounts.
    • It’s easy to make transfers between accounts.

Kids’ Bank CD

Set your child up for success, with the added benefit of teaching them the merits of investing, with a five-year Kids’ Bank Certificate of Deposit (CD).

    • Minimum $250 to open, with the opportunity to add $250 at a time.
    • May close at any time with no penalty after two years.
    • Available to all ages.

Ready to Sign Up?

Visit Piscataqua Savings Bank in person any day during business hours with your child (legal guardian must be present) and open their first account with as little as one cent.

Be sure to bring:

  • Your child’s birth certificate and Social Security number
  • Their first deposit
  • Legal guardian’s ID (if they will be listed on the account)

Kids’ Bank Resources & Activities

Click on the link below to find fun activity sheets to help you learn even more about numbers and your very own bank. Come back again soon and we’ll have new ones for you to try!

View All

What to Look for in a Bank Account for Kids

When choosing a bank account for your child consider:

  • Interest rates: Look for high interest rates so your child’s savings can grow over time. Piscataqua’s interest rates for kids accounts are as much as .25% higher than adult rates!
  • Fees: Watch out for monthly maintenance fees, overdraft fees or other charges. Go for accounts with no or low fees to save more.
  • Minimum balance: Check if the account has a minimum balance requirement to avoid fees or earn interest. Some accounts may have a minimum balance to maintain.
  • Online banking and mobile banking: Make sure the bank has user friendly online banking and mobile banking apps to manage the account and check balances.
  • Financial education: Look for banks that offer financial education resources and tools to teach your child about money.
  • Deposit limits: Check if the account has deposit limits or withdrawal restrictions which can impact how you manage the account.

The Piscataqua

Savings

Difference

The best at what we do, for you.

That’s why we survey area rates closely to make sure we consistently offer the best rates and lowest fees around. We refuse to nickel and dime our customers and all our charges are simple and easy to understand. The best rates and superior service for all your personal banking needs: that’s the Piscataqua Savings Bank difference.

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