First Spending With First Savings
Banking for kids and teens.
First Spending with First Savings¹ gives you the opportunity to provide hands on financial training for your kid or teen - safely and with the right amount of control. Strike the perfect balance between peace of mind for you and financial freedom for them.
Two Accounts. One card.
The First Spending Account
Also known as a checking account, a spending account gives your child the power to make purchases with their very own debit card.
- Works virtually anywhere, worldwide.
- Withdraw cash from ATMs.
- Compatible with digital wallets like Apple Pay® and Google Pay™.
The First Savings Account
Any time your child uses their debit card, the total is rounded up to the next dollar - and the amount goes into their savings account creating automatic savings.
- Earn interest on money they save.
- Learn to set goals for bigger purchases.
- Set up good financial habits.
Built-in safety features
The debit card includes some built in spending limits:
- Daily ATM Limit: $100 or 2 transactions per day.
- Daily Point-of-Sale Limit: $100 or 10 transactions per day.
- Pass the Buck (Person-to-Person) - Sending & Receiving Limits: $100 or 2 transactions per day.
Digital banking access - online & mobile - to keep an eye on the accounts - whenever and wherever.
From inside the mobile app enjoy these features:
- Deposit checks in a snap with Mobile Deposit.
- Pay and get paid with Pass the Buck.
Parental Controls with CARDVALET®
Keep tabs on your kid or teen's spending habits with our free CardValet® app and:
- Easily lock or unlock the debit card with the press of a button;
- Receive real-time debit card notifications;
- Customize transactions and spending limits as you see fit.
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1 The account owner must be 17 or younger and be the primary account owner on the account. A parent or legal guardian is required to be a joint owner on the account. APY = Annual Percentage Yield.
1 First Spending: Minimum deposit to open is $5.00.
Balances up to $100.00 receive 10.00% APY. Balances over $100.01 receive 0.15% APY. Interest accrued is deposited into First Savings account. Depositor is required to open a First Savings account to receive interest paid on the First Spending account. Daily ATM limit is $100 or 2 transactions per day. Daily Point-of-Sale limit is $100 or 10 transactions per day. Person-to-Person funding limit is $100 or 2 transactions per day.
Person-to-Person receiving limit is $100 or 2 transactions per day.
1 First Savings: Balances up to $250,000.00 receive 0.25% APY. Balances over 250,000.01 receive .30%. A service charge of $2.00 will be imposed every month if the average balance in the account falls below $25.00. During any month you may not make more than 6 withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party. You will be charged $1.00 each for any withdrawals or transfers over 6 per month.
CardValet® is a registered trademark of Fiserv, Inc. Data charges may apply. Check with your mobile carrier for details.