It’s never too early to open a Kids Savings Account for your child. Start saving when they’re a baby and watch their money grow as they do. A Kids Savings Account must be co-owned by one child under 18 years old and one adult. If the child is under the age of 12, then the adult must be the child’s parent or legal guardian.

To open a Kids Savings Account for a child, have these things ready:

• For you: name, date of birth, mailing address, email address, phone number, employment information, annual income, Tax ID Number (SSN or ITIN), citizenship information
• For your child: name, date of birth, mailing address, Social Security number

You’ll also need to agree to the terms and conditions. Based on varied factors, you may be denied for a Kids Savings Account. Upon approval, you’ll have 60 days to fund your account. This account is designed specifically for children and their parents. It stays a Kids Savings Account even after your child turns 18, unless you or your child decides to open a different savings or checking account.

A Kids Savings Account has no monthly fees, a high rate and dual access for parents and children. It also helps teach financial literacy by allowing kids to monitor their own balance while adults maintain oversight.

Your child can use our top-rated mobile app to sign in and check their balance 24/7. While they watch their savings grow, you can transfer money and manage account details through your own separate sign-in.

In addition to everything a kid can do, you can sign in to your kid's savings account with your own username and password to transfer money, set up an Automatic Savings Plan and manage account details. This joint ownership stays in place after your child turns 18. If your child wants to be a sole account holder after turning 18, they must open a new savings or checking account, such as 360 Performance Savings.

Once you sign in, you can use the Transfers & Deposits tab to transfer funds into children’s savings accounts from a linked checking or savings account (either Capital One or another bank). Also, adults and kids can make mobile deposits by taking pictures of a check with their phone.

Yes. Simply open a Kids Savings Account in your name and your child’s name. Then, link that account to your existing Capital One account or to an external personal checking or savings account at any U.S. bank. That's also the way you make deposits to and withdrawals from your account with us.

A Kids Savings Account can only be opened as a joint account with an adult. That way, kids can learn to manage their money while you keep a watchful eye. A trust keeps money safe on the behalf of the person who set up the trust, typically without allowing them to access the money until a specific amount of time, when the money then goes to a designated beneficiary.

Yes. With a Capital One Kids Savings Account, you can assign up to 10 individuals as Payable on Death beneficiaries, which means that while you’re alive, the beneficiaries won’t have access to anything in the account. The only exception is that you cannot assign beneficiaries for a Trust account, where the trustee controls funds for another party. Assigning beneficiaries can give you peace of mind and can result in increased FDIC coverage for your accounts up to allowable limits. Learn about the two ways to manage beneficiaries for your child’s savings accounts.

No. Your Kids Savings Account does not automatically convert to a 360 Performance Savings account or any other account type when your child turns 18. It will stay open with its current features and interest rate as long as you choose to keep it. When your child turns 18, they’re eligible to open a new account such as 360 Performance Savings or 360 Checking. Moving funds from a Kids Savings Account to these new accounts is not automatic—it must be done by an account holder of the Kids Savings Account.