A great way for kids to start managing their own money.
Give your child an incentive to save with a higher interest rate on the first $500.
Parents and kids can setup automatic transfers anytime if they both have Flagstar accounts.
No monthly fees or minimum balance.
It's never too early to start teaching the importance of saving. Our kids savings account can help your child learn to manage their money early and develop responsible financial habits to carry into adulthood.
Mobile Banking lets you pay bills, move money, deposit checks,3 and much more. Add this easy-to-use app to your Android or iPhone and manage your money on your schedule.4
A kid's savings account is a great way to teach kids and teens about saving money. When you open a Flagstar Kids Savings account, specifically, you and your child will enjoy the following benefits:
It’s up to you. There is no minimum age requirement for Flagstar Kids Savings, but the child must be 13 or older to get a debit card.
Anytime is a good time to open a savings account for your child. You can start things out with age-appropriate lessons and regular deposits. Your child can make mistakes—and learn from them—now at a small scale and avoid making them as an adult.
Visit a branch with your child to open an account. You’ll need a $1 minimum deposit and identifying information for yourself and your child.
Your child can access their account with Flagstar’s online and mobile banking.2
Parents can transfer money from their child’s account to their own Flagstar personal checking or savings account.
We’ll walk you through it. Stop by the nearest branch to open an account in person.
We reserve the right to change account benefits at any time without notice. Certain restrictions may apply. Please see the complete Disclosure Guide for additional details.
Interest rates are tiered to a maximum amount.