Want to teach your teen money skills through experience? Teen Savings* is designed just for teens 13-17. Teens are required to have a qualified adult joint owner on this account. This offers a great foundation for money management while providing peace of mind to parents.
- Convenience – 24/7 access through Online, Mobile Text and Mobile App Banking (free service – check your cell phone plan for possible fees)
- Dividends – On balances as low as $5
- Financial Education – South Carolina Federal hosts financial education workshops at financial centers and schools
To open a Teen Savings account, you need:
- A qualified adult joint owner
- Tax Identification Number with proper ID for the teen (social security card or military ID) – note a picture ID is required for teens 13 and older
- Opening deposit of $5
Ready to start your teen saving?
Accounts require personal attention and specific documentation and, therefore, are opened in a financial center.
*Reg D limits apply