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Posted on
Jul. 12, 2009
@ 9:39am
Expires on
Sep. 30, 2009
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2909
ING Direct’s New Children’s Savings Account: $25 Bonus w/$100 Deposit
ING Direct has introduced a new Children's Savings Account (CSA) for parents who also happen to be current ING Direct customers. For a limited time, when you open a CSA and deposit $100 into that it your children will receive a $25 bonus. The CSA works basically like their classic no fee savings account where you get interest that's typically higher than at the big 5 banks and it can be managed entirely online. The twist for a CSA is that parents will be able to setup their kids with their own account login and also select which options the children will have to manage their account which you can change over time as they get old. It's a neat tool that could help them understand how to manage money but even with that aside, a $25 bonus on a $100 account is a very nice incentive.
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Comments
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gene2u
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Nice offer. Too bad I can’t find my child’s birth certificate.
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gene2u
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Found it. Now for the next snag… my child doesn’t have an external bank account. Kind of a headache to try to get this account open, since they require my child to have an external chequing account to open a Children’s Savings account.
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Doc
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As a parent, I’m pretty sure you can just transfer money to their account if you’re a current ING Direct client.
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Cachodeal
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This is a nice and tempting offer.
Though I would still opt for a regular RESP. I rather get the grant from the Govt. where per $1 you get $0.20 So say you put down $1,200 per year you get an additional $240 from the government grant.
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