Our 8-year old got her first bank account! Hubby and I opened a savings account for her at USAA right after we came home from our trip to the Philippines. Thanks to my family in the Philippines for giving her some money. She received over P5,000.
As a parent, it is important for our child to learn the value of a dollar, their first bank account is a good place to start. Teaching them financial responsibility is one of the greatest gifts we can give to them.