bank accounts for babies?

solidstars

solidstars

Registered User
anyone opened one for their child/children? which bank is best? any recommendations?

I tried searching here but seems that there's a thread for helpers accounts only?

any advice or experiences shared would be much appreciated!

:thanks
 
Hi Solidstars,

Bank accounts for babies isn't popular in HK and, as far as I know, they don't give you any more interest on the accounts i.e. it's just like a bank account for adults except it may have less charges. Not like the UK where I'm from.

Considering bank interest rates are so low at the moment I think you'd be better putting your money elsewhere until they grow up a bit more. There's savings schemes, education funds or investments that you can look at instead. Depends on when you want them to mature for one thing. Of course, when the kid is older definitely open an account for them so that they can learn the value of money for themself.

Can tell you more about the alternatives listed above if you want.

Hope that helps
 
I just opened a regular account in my own name for my baby. Each month I`ll put in some money for his future or more likely his education if we stay in HK.
 
thanks we've decided to just put it into our joint account as the baby ones seem so complicated. we might wait for him to grow up and understand more first before opening an account for him!
 
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