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It’s never too early to start saving. The Junior Saver is a fee-free savings account for Community First members younger than 18. Community First members older than 12 years old get their own debit card to use for withdrawals, over-the-counter purchases and to shop online.
$0
Account keeping fee
$0
ATM withdrawal fee
$5
Overseas ATM withdrawal fee
3%
Overseas transaction fee
of transaction value
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Product Name | Community First CU Junior Saver |
---|---|
Monthly account fee | $0 |
Card access | Visa |
ATM Withdrawal Fee | $0 |
International ATM Fee | $5 + 3% |
International transaction fee | 3% |
Monthly deposit required to waive account fee | N/A |
Contactless Payments | Google Pay, Apple Pay, Samsung Pay |
Review by
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
This account is for customers aged under 18 and is a great mix between a transaction account and a savings account. It offers day-to-day access to your money with a linked debit card, while also paying a competitive rate of interest on your balance with no deposit conditions to meet and no account keeping fees.
You can even open the account for customers under 12, however the account will need to be in the name of a parent or guardian.
2 Comments
September 23, 2021
I’m trying to get an account for my 5 year old son. He is approved for SSI disability and they said I need to open an account in his name. With him being so young I’m having difficulty finding away to find a way to open an account without me opening an account also.
September 28, 2021
Hi Ashley,
In general, children under 18 years old don’t have the legal right to sign documents such as those required in opening a bank account. Most banks require you be over 18, or in some cases 14 or 16, to open an account in your name.
As a parent or legal guardian, you can open an account in your son’s name, with your name listed on it as well. When your child turns 18, you can get the bank to remove your name from the account permanently.
Thanks,
Alison