Teenagers and kids can obtain useful real-world understanding of financial management by opening a spend account at RMLEFCU. There are numerous reasons that make these accounts financially beneficial for them, but let’s explore what a teen spend account should have to help build their financial independence. Here are certain things to be taken into consideration.
Face it, young people spend a lot of time on their handheld devices today. It only makes sense that your family’s bank provides the ease of mobile banking to your teen. RMLEFCU’s mobile and online banking services are some of the best in Colorado. We are consistently updating and insuring member focused feature for ease of use. We also provide smartphone withdrawals, transfers, and payments free of charge.
Monthly Minimums and Fees
Make sure you and your child understand the monthly minimums on your account to avoid any fees. This is particularly important for young people, as their income is oftentimes limited.
RMLEFCU’s spend accounts have no monthly maintenance fees, require no minimum balance, nor a minimum deposit to open. It’s spending, simplified! You can also earn LEO rewards with your free debit card and set up direct deposit, enjoy unlimited check writing, and easily order additional checks online.
Set up account alerts to avoid you or your teen getting caught off guard – you can receive bank account alerts via text message or email.
Money Manager is a great tool to help your teen establish a budget, track spending, and see spending trends.
Add Kasasa Protect™ for comprehensive fraud protection.
Setting up a spend account for your child at RMLEFCU is a gift that keeps on giving. The personal environment at credit unions can be more conducive to the sharing of advice, knowledge, and experience from people who have been in the business for years.