A friend of mine has just become a grandfather. He thinks he'd like to start out a modest bank account for the baby. He anticipates that future cash gifts from others will be deposited over the years. As there will be no regular deposits assured, does anyone know a bank in WA that has no fee savings accounts? He's currently in hospital and is not using the internet, so I'd like to help a little with the leg work.
Bank Account for New Born with Infrequent Deposits
voteoften on 28/07/2017 - 20:37
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Damn that is an amazing account. Will sign up tomorrow. Cheers
Thanks that sounds perfect! 4% for up to $5000 sounds pretty good.
Hmm, 4%. Instead of getting a 80k car, need to find 16 kids and broden this. :) :) :)
That's true with any account and the kid will need an abg of $3000 for this to kick in. gramps is talking $200.
If father of the new born child applies for youth esaver , I recon its one of the best no frills account available in market.
https://www.cua.com.au/everyday-banking/savings-and-term-dep…
Not a big 4 bank ,account can be opened in newly born name either at branch or by send documents required by post.A great interest rate.
Earn a 4.00% p.a.xx variable interest rate on balances up to $5,000 and receive regular monthly interest payments to help boost your savings.
Freedom to use the account
Earn the same high rates of interest no matter how many deposits or withdrawals are made each month.
No monthly account or online transfer fees
Your child’s savings won’t be reduced with monthly account fees or fees to transfer money online.
Instant online access
With online banking and mobile banking the account can be accessed anytime, anywhere.