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NextGen Savings
Give them a place to save for their goals, right from their phone, with this teen savings account.
Goals
Set goals with digital tools and personal support
Grow
Earn 1.40% dividends1
Wherever
Manage money securely in the Civic app2
Learning with an online savings account for teens
Your teen is growing up and learning to be responsible in many ways, including with money. This savings account for teenagers is a place for your teen to make deposits, manage money, and learn good money habits — all from their phone.
Money from small jobs and birthday gift deposits will grow with dividends from this NextGen online savings account. Your teenager will use easy, digital tools to set goals and practice managing their money with personal support from our team. Once the teen savings account is open, help your teen learn about spending with a NextGen Teen Checking Account with a teen debit card. Start with this savings account for teens to help them build confidence about saving money.
Terms
- $25 minimum deposit for teen savings account
- Online savings account for teens ages 13 to 17
- $1 fee each month balance falls below $25
- Earns 1.40% dividends1
Features
- Open a teen savings account first, then a teen checking account
- Funds move to an adult account once teen turns 18 years old
- Teen is the primary owner, parent is a joint owner
- Teens can manage money, wherever they are
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Here are a few FAQs
What type of identification is required to apply for a youth or teen account when under age 18?
The parent or guardian will have to meet the ID requirement for our Civic youth accounts. The minor will not have to provide an ID.
What happens when the youth turns 18?
Our Civic youth accounts are designed to help you teach your child smart money habits as they grow. At age 18, we welcome your teen into a full financial life! That’s when the NextGen Savings Account will automatically transition to a Select Savings Account. And that’s when NextGen Checking Account will automatically convert to a Bonus Checking Account when the minor turns 18.
Do youth accounts come with a debit card?
The YoungStar Account, for children ages 0 to 12, offers only an ATM card to withdraw funds; the YoungStar Account does not offer online access. At age 13, YoungStar converts to a NextGen Savings Account for teens aged 13 to 17 that offers limited mobile and account access to help your child to learn to manage money. You can choose to apply and pair your NextGen Savings with a NextGen Checking Account for teens, which offers a debit card and also offers limited online and mobile account access.
Are there any fees for youth accounts?
There are no fees — no overdraft, insufficient funds or maintenance fees for youth accounts.
How do we deposit money or make withdrawals from a youth account?
Under the watchful eye of parents, NextGen teens age 13-17 can use our online and digital channels to conduct transactions on their accounts, from anywhere. This includes mobile phones, ATMs and remote check deposit! For the YoungStar members ages 0-12, parents will conduct transactions on behalf of their young members.
Do youth checking accounts include checks?
The NextGen Checking account for ages 13-17 does not include checks. It does include a debit card that enables your teen to make purchases, like school supplies, tickets to school events, concessions, and other needs under your watchful eye. The YoungStar account ages 0-12 does not have checks or a debit card.
Ready to open a teen savings account?
This savings account for teens can help them build confidence about saving money. It is their place to make deposits, manage their money, and learn good money habits — all from their phone.
1 Minimum opening deposit of $25. No balance requirement to earn dividends, which are compounded daily and paid monthly. A $1 fee is charged each month the account balance drops below $25.
2 Message and data rates may apply.
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