Which is your preferred Kids Savings Account?
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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!! -
duriz:
in short, I think the boy is a spoilt child....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
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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 …
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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: -
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. -
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 !
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I prefer OCBC Kids’ Mighty Savers’ account, reminded me of the nostalgic POSB of old when I paste stamps on the savings cards so long ago…
Nowadays they are playing catch-up lah…already got Mighty Savers so won’t go for the squirrels anymore…
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Just 4, but helping needy
OVER the past two months, four-year-old Kendric Chang has been making the effort to set aside some of the money that his father gives him weekly for The Straits Times School Pocket Money Fund (SPMF).
As an OCBC Bank Mighty Savers account holder, he is one of 5,000 customers who received the SPMF's coin bank as a gift from the bank.
Since then, his mother Jane Tan, 32, has been teaching Kendric the concept of saving and giving to the needy children that the fund supports.
Yesterday, Kendric was the first customer to bring his filled coin bank to the OCBC branch in Ang Mo Kio Central to deposit his contribution, amounting to $26.30, to the fund.
Madam Tan, who accompanied him to the branch, said: 'We're happy to support the School Pocket Money Fund as we think that it is a worthy cause. This is a good opportunity to teach Kendric to save from young and to contribute to the community whenever we can.'
All 18 of OCBC's Sunday banking branches became exclusive collection points for people who wished to donate to the SPMF yesterday.
The bank will be collecting money that members of the public have saved up in their Help-A-Kid coin banks, which have been on sale since July to raise funds for needy students with no pocket money for recess or bus fares.
The coin banks, retailing at $5 each, are part of an initiative to encourage people, including children, to foster a habit of saving.
Additionally, savers are urged to give their money to those who need it more.
The coin banks have been available at all NTUC FairPrice supermarkets, and proceeds will go to the SPMF.
OCBC has bought and given out more than 10,000 of the coin banks to employees, and to customers who sign up for its Might Savers account for children.
'By giving these coin banks to our young savers, we hope to help make saving both fun and meaningful for them,' said Mr Ching Wei Hong, OCBC's head of global consumer financial services.
This is the fund's 10th anniversary fund-raising campaign, and it is aiming to collect $5 million for 12,400 needy students.
More than 50,000 of the coin banks have been sold, and as many more will be made available.
Organisations that wish to lend a hand may place bulk orders for the coin banks at [email protected].
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_575373.html -
I applied OCBC young savers for both my kids
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hi, i currently hv ocbc cda acct for my gal… do u all tink i shd open one savings acct too?
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