Does anyone know of a bank providing cheap (free?) passbook savings accounts for kids?
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My son's account is at Hang Seng Bank. They have an account specifically for kids but I don't think they're completely "free". I opened a passbook savings account for my son in care of myself which doesn't cost anything and there's no minimum balance to maintain. The account specifically for kids has some perks ie cheap medical care at certain doctors etc but we have comprehensive coverage through my husband's company so didn't think it was necessary.
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cd
19 yrs ago
children under 11 cannot open an account in many banks in HK including HSBC and Bank of China. You can open an account at HSBC in your name but stating In Relation to (the childs name), no interest below a certain amount but no charges either, and no minimum amount to open the account. My daughter has just tried opening an account at the Bank of America but they said she needs a minimum of $5k to open it.
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crj
19 yrs ago
What about Offshore Accounts for Savings?
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