Back to School: Setting Up Your Child’s First Checking Account

Back-to-school season is one of the busiest times of the year for families. It is also an ideal time for introducing older children to banking with their own accounts. They gain firsthand experience with basic financial literacy, and they do so with the comfort of mom and dad looking on for guidance.

If your child is ready to begin, Origin Bank is here to help with a few tips:

• Origin Bank’s student checking account is easy to set up and a great value. All it takes to open this account is a valid high school or college ID for students under 25, and we’ll waive the monthly $8 service charge. (Children under the legal age of adulthood, which can vary according to state, will need to have an adult with them to sign on the account.)
• Student checking comes with the entire Origin experience – free mobile banking, mobile deposits and mobile payment capabilities, along with 24/7 customer support and personal bankers available to assist with their individual financial needs.
• This is a great time to teach children the value of saving. Help them set goals, let them see the time and work needed to meet those goals and the satisfaction of watching their money grow.
• A personal account is also the opportunity for children to learn basic tasks like how to properly fill out checks and deposit slips.
• Involve kids in financial decisions, small or large, at an age when you feel comfortable. Talk about the kinds of expenses that fit within your budget, how money is gained and spent, and how debt works.

Children who begin learning about banking early become money-wise adults.