Whether you’re looking to save for your child’s future to lay the foundation for financial success, or want to teach your child sound money management skills, opening a savings account in their early years will help them learn the value of money and how to become more financially responsible.

What is a Youth Savings Account?

A youth savings account is a savings account specifically designed to help children start saving for the future under the guidance of an adult. At Jovia, we offer different products, tailored by the child’s age.

Joint accounts are a great way to introduce young children to banking. A joint account grants full access to the adult and the minor. When opening an account for a younger child, the adult can add money to the account and monitor activity until the child is old enough to perform basic transactions such as deposits and withdrawals. Performing basic transactions and reviewing account statements together will teach the child how their money grows with interest, how to set monetary goals, and how to save and budget for things they want.

Here at Jovia, a parent, legal guardian, or adult family member must open a joint Dollar Dog Account with the child if the child is 10 years of age or under. Kids 11-17 have the option to open an Elements account individually or as a joint account.

When opening a new savings account for your child, you’ll need to verify the child’s identity by providing their original social security card, original birth certificate, and/or school photo ID.

What Should I Look for in a Child Savings Account?

Convenience, local branch locations, and online access.

Opening the account together can be beneficial and will help familiarize the child with the physical interaction of day-to-day banking. The day the account is opened, encourage the child to make a deposit allowing them to hand the money directly to the teller and receive a record of the transaction.

Online access makes it easy for you to view and manage the account together, while teaching basic online transactions which can prepare the child to take over the account when the time comes. If you plan to fund the account yourself, look for account features that allow you to easily transfer funds and make deposits into the child’s account so it will continue to grow. Automating your deposits on a scheduled basis is a great way to watch your youth savings balance grow.

Rates & Fees: Open a high-interest rate savings account that keeps money liquid and insured.

Maximize your savings in an account that doesn’t charge fees or require a minimum balance. Encourage children to make deposits into the account with weekly or monthly deposits from their allowance or gift money so they can see their money grow faster.

Ready to Open a Youth Savings Account for Your Child?

It takes time to build up savings and good financial habits. That’s why there’s no time like the present to start the children in your life on the right path. If you’re not sure where to get started, Jovia can help. Our youth accounts lay the foundation of future financial success and teach kids the importance of money skills that last a lifetime.

Dollar Dog Kids Account• (up to 10 years old):
  • Make an initial deposit of $5 or more and we’ll match the first $5 deposited
  • Competitive interest rate that compounds daily
  • Interactive, fun website
  • Free Online and Mobile Banking account access
Elements Teen Savings Account•• (age 11-17):
  • Minimum $5 to open
  • Interactive, fun website
  • Eligible for free Go Green Checking account, which is ideal for learning how to balance a checkbook or for making purchases with a Visa® Debit Card
  • Free Online and Mobile Banking account access


Visit a local Jovia branch to get started today. You’ll be glad you did!

• Dollar Dog account requires a $5 initial deposit. Dollar Dog is a registered trademark of Marketing Partners. A parent, legal guardian, or an adult member of the child's family must be a joint owner on the Dollar Dog Savings account, the Jovia Free Checking account and/or Visa® Debit Card for teens under the age of 17.

•• Elements Teen Savings account requires a $5 initial deposit. Minimum balance to earn APY is based on a 30-day month.