What are the advantages of a Grow Account?
Their Own Money
It’s never too soon to begin teaching your children about handling money responsibly. Opening a savings account in their name is a great way to start. They can put their hard-earned allowance in there or perhaps part of their birthday gifts from relatives. Then they can see how they earn a bonus dividend by keeping their money in the account. And they will also have the thrill of watching their balance grow to the amount needed for a special purchase they have in mind. You can also request an ATM card so they can learn how to responsibly use that to access their funds.
A Grow Account requires a minimum balance of just $100 to earn dividends. Plus, if you maintain an average daily balance of at least $500 per quarter, you will receive a quarterly bonus deposited directly into your Grow Account.
With the Grow Account, you'll also enjoy:
- No monthly Maintenance Service Charge
- No inactive fee
- A simple, single-tiered rate structure, which means it offers the same dividend rate for any average daily balance
- Option to request an Elements ATM card to use at more than 78,000 surcharge-free ATMs worldwide
- Shared branch access at more than 5,000 branches nationwide
- Ability to manage your account in Online Banking or the Mobile App from any device