Which is your preferred Kids Savings Account?

[duriz]

Thank you BigD


When DD was discharged on the third from the hospital after her birth + 2 extra days (for jaundice treatment aka time at the sunny spa); DH, DD and I went for a celebratory brunch (DD had BM on demand), after which we went to Q for DD's kindy registration PLUS open her bank account.

DD has a POSB Kids account, co-joint with moi. The only thing I don't like about it is that she gets to \"control\" when she reaches 15 years of age. So I decided that I will put in monthly savings but not let her know about it

Story to share:
My aunt has a joint account with my (boy) cousin. When he turned 18, he withdrew $7,500 for a sporty motorbike. A week after, he was found out and my uncle (his Dad) sold the bike for $5,000. When the same cousin turned 25, he withdrew $30,000 for a sporty car. A month later when the car arrived, my aunt promptly closed the bank account and did not speak to him for a month :x

[hquek]

MMM:

He is wearing a ellesse now and he is crazy enough to want a gold watch. I am not sure if it's him. :? They are at the tweens stage now.

Clever boy to want a gold watch

[MMM]

hquek:

MMM:

He is wearing a ellesse now and he is crazy enough to want a gold watch. I am not sure if it's him. :? They are at the tweens stage now.

Clever boy to want a gold watch

He didn't get it.... We told him that is too ah pek... He is using fil rollie as a benchmark :stupid:

[sakura_2009]

Sun_2010:

ya the card and gifts do get a bit stale after a while...

Agree - DS used to go & 'top up' his bank account to get the card and stickers...now he couldn't be bothered. He still goes into the bank every Sunday (bank located in shopping mall where we do our groceries every Sunday), but not to deposit $$, just to get the free chocolate cookies :lol:

[BigDevil]

duriz:

Story to share:

My aunt has a joint account with my (boy) cousin. When he turned 18, he withdrew $7,500 for a sporty motorbike. A week after, he was found out and my uncle (his Dad) sold the bike for $5,000. When the same cousin turned 25, he withdrew $30,000 for a sporty car. A month later when the car arrived, my aunt promptly closed the bank account and did not speak to him for a month :x

:!: :!:

Thanks for sharing!! Now I know I must not let them know about their account!!

[vlim]

duriz:

Thank you BigD


When DD was discharged on the third from the hospital after her birth + 2 extra days (for jaundice treatment aka time at the sunny spa); DH, DD and I went for a celebratory brunch (DD had BM on demand), after which we went to Q for DD's kindy registration PLUS open her bank account.

DD has a POSB Kids account, co-joint with moi. The only thing I don't like about it is that she gets to \"control\" when she reaches 15 years of age. So I decided that I will put in monthly savings but not let her know about it

Story to share:
My aunt has a joint account with my (boy) cousin. When he turned 18, he withdrew $7,500 for a sporty motorbike. A week after, he was found out and my uncle (his Dad) sold the bike for $5,000. When the same cousin turned 25, he withdrew $30,000 for a sporty car. A month later when the car arrived, my aunt promptly closed the bank account and did not speak to him for a month :x

in short, I think the boy is a spoilt child....

[lissa81]

Still havent got savings account for my kid… After reading this discussion and poll now think, need to apply for kids savings account also. By the way does anyone here got kids insurance…am seriously thinking of buying …

[DesertWind]

lissa81:

Still havent got savings account for my kid.. After reading this discussion and poll now think, need to apply for kids savings account also. By the way does anyone here got kids insurance..am seriously thinking of buying ..

Hi lissa81,

How about buying NTUC IncomeShield for your kid? I got for my DS when he was about 3 or 6 months old. After that, he got a bout of croup (ie. ashma like condition), stayed in hospital for 3 days and all expenses claimed from this insurance! Phew, was so relieved to have this coverage.

Nowadays you can never tell, my nephew had fever couple of times and got to be hospitalized to check. After the first hospitalization, my brother bought this Incomeshield for him. Second time hospitalization fully claimable and he was so relieved! That time nephew was only about 2-3 years old.

Do go ahead to do it asap!
:celebrate:

[leo]

lissa81:

Still havent got savings account for my kid.. After reading this discussion and poll now think, need to apply for kids savings account also. By the way does anyone here got kids insurance..am seriously thinking of buying ..

agree that its good to get shied or h &s asap. note that it doesn't cover everything though.

back to poll. i choose ocbc. got a branch at my nearest shopping center sunday banking and special queue for kids with colouring to entertain dd when i queue. service is still slow though.

[Eagle-Ladybird]

Our kids’ bank account are 2 "metal" piggy banks with padlocks. Everytime they earn some money, like 50cts, they will shake the piggies and feel the weigh !