ING DIRECT Kids Savings Account

by Andy Hough on May 16, 2011

ING DIRECT has introduced a new product called the Kids Savings Account. The Kids Savings Account is a kid-friendly bank account that teaches kids how to save their money the safe and responsible way. And like the Orange Savings Account, there are no fees, no minimums and the money is FDIC-insured. Currently it pays a kid-friendly 1.00% variable Annual Percentage Yield (effective 02/23/2011). You could do much the same with a regular Orange Savings Account but this is an interesting alternative that allows the kids to check their balance, change their personal info, change their PIN, change their account nickname, create a personalized ‘Saver ID’, and download their account history, tax forms and eStatements.

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