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Get a Jump-Start with the Best Savings Account for Kids in Florence, SC

Personal Finances 2 min read

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The percentage of children in Florence, SC, under the age of 18 (24.2%) ranks higher than the state average (22.0%) and even the national average (22.6%). Given this abundance of young children in the area, it’s important for financial resources to be in place to help out our next generation of leaders.

One of the best options available to parents wanting to start saving for their kids is a great savings account. The First Bank locations on West Evans Street and Loop Road have created one of the best savings accounts for kids in Florence, SC.

Savings Account Benefits

MyFirst Savings is First Bank’s savings account for children under the age of 18. The account requires just a $10 initial deposit and features no minimum balance and no monthly maintenance fees. The account holder will earn interest on any balance so their money will begin growing from day one.*

MyFirst Savings also includes online and mobile banking with no First Bank charges, automatic online bill payments, free monthly statements and account activity alerts and two withdrawals per month void of any First Bank fees.*

A savings account for kids will teach valuable money management skills while also providing a nice reserve for adulthood. Once the account holder turns 18, their savings can easily be transferred into one of First Bank’s basic savings or checking accounts and if they enroll in college they can utilize our student checking account.

Visit First Bank Today

Visit your nearest First Bank today and help your little ones plan for their future by opening the best savings account for kids in Florence, SC.

*Other account service fees may apply as described in the Account Services Fee Schedule available on our website at fees or at your local branch.Federal regulations limit withdrawals or preauthorized transfers to six (6) per month, including checks, drafts, online transfers, telephone transfers and debit card purchases. Savings Account customer can make two free withdrawals per month. There is a $2 fee for each additional withdrawal.

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Sources:

Census: https://www.census.gov/quickfacts/fact/table/florencecitysouthcarolina,florencecityalabama,sc/PST045218

Census: https://www.census.gov/quickfacts/fact/table/US/PST045218

Investopedia: http://www.investopedia.com/terms/i/interest.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186

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