Start your child or teen on the right financial path. Our youth saving accounts come with tools you can use to teach smart money management.
Easily transfer money from your account to theirs for allowances or saving for the future.
Withdraw or deposit cash and checks at select ATMs.
 Savings | Money Market | Gold |
|---|---|---|
$10 initial deposit | Only $25 initial deposit | Only $25 initial deposit |
Minimum to earn interest is $10. | Minimum to earn interest is $1,000. | Minimum to earn interest is $1,000. |
No monthly fee | No monthly fee | No monthly fee |
Only $500 initial deposit. $500 minimum balance to earn interest.
Terms from 3 months to 5 years. Monthly interest payments available for accounts with $10,000 or more.
Save for you child's future today.
With a Coverdell Education Savings Account you can contribute up to $2000 after-tax annually per child. And the best part is, when the funds are withdrawn they're tax-free.
A Coverdell ESA can help you save for a child's education expenses, such as tuition, fees, books, supplies, equipment, and in some cases, room and board. Contributions can be made by family members, corporations, or other individuals until the child reaches age 18. Assets from the ESA can also be transferred or rolled over from one ESA to another ESA for the same child or an eligible family member of the child.
Now that's smart.
 |  |  |
Under 5 | 5-12 | 13-17 |
Setup as Uniform Transfer Minor Account | Minor and Parent/Legal Guardian open account together | Minor and any adult 18+ years of age can open an account |
| Child’s Identification One of the below: - State Issued ID - Passport (US or Foreign) - Green Card OR - Birth Certificate - Social Security Card | Child’s Identification One of the below: - State Issued ID - Passport (US or Foreign) - Green Card OR - Birth Certificate - Social Security Card - Student ID | Teen’s Identification One of the below: - State Issued ID - State Driver's License or Permit - Passport (US or Foreign) - Green Card OR - Birth Certificate - Social Security Card - Student ID |
Adult Must be at least 18 years old, and a US Citizen or Permanent Legal US Resident and reside in the states of AZ, ID, NV, NM, OR, TX, UT, or WA. Personal information, including address, phone number, email address and Social Security Number. Picture ID, such as a driver's license, state ID, Passport or military ID. | Adult Must be child’s Parent/Legal Guardian. Must be at least 18 years old, and a US Citizen or Permanent Legal US Resident and reside in the states of AZ, ID, NV, NM, OR, TX, UT, or WA. Personal information, including address, phone number, email address and Social Security Number. Picture ID, such as a driver's license, state ID, Passport or military ID. | Adult Must be at least 18 years old, and a US Citizen or Permanent Legal US Resident and reside in the states of AZ, ID, NV, NM, OR, TX, UT, or WA. Personal information, including address, phone number, email address and Social Security Number. Picture ID, such as a driver's license, state ID, Passport or military ID. |
Under 5
Setup as Uniform Transfer Minor Account (UTMA) Custodian on the Child's behalf
Adult
Must be at least 18 years old, and a US Citizen or Permanent Legal US Resident and reside in the states of AZ, ID, NV, NM, OR, TX, UT, or WA.
Personal information, including address, phone number, email address and Social Security Number.
Picture ID, such as a driver's license, state ID, Passport or military ID.
5-12
Minor and Parent/Legal Guardian open account together
Adult
Must be child’s Parent/Legal Guardian.
Must be at least 18 years old, and a US Citizen or Permanent Legal US Resident and reside in the states of AZ, ID, NV, NM, OR, TX, UT, or WA.
Personal information, including address, phone number, email address and Social Security Number.
Picture ID, such as a driver's license, state ID, Passport or military ID.
13-17
Minor and any adult 18+ years of age can open an account
Adult
Must be at least 18 years old, and a US Citizen or Permanent Legal US Resident and reside in the states of AZ, ID, NV, NM, OR, TX, UT, or WA.
Personal information, including address, phone number, email address and Social Security Number.
Picture ID, such as a driver's license, state ID, Passport or military ID.
Save at School accounts are available to elementary school students whose school offers a program of regularly scheduled Bank Days. On Bank Days, students can bring small deposits to school and contribute the money to their WaFd Bank account.
Partner with WaFd Bank to help teach our kids how to save money with a Save at School program!
Learn MoreStill can't find what you are looking for? Contact a branch near you or call 1- or email us at info@wafd.com.
Yes, at the request of the custodian/parent/legal guardian.
Yes, ATM cards cannot be used to make store or online purchases.
The Child Online Privacy Protection Act (COPPA) restricts the collection of personal information from children for the purpose of website use. For this reason, clients under age 13 cannot sign up for online banking access.
Online Banking offers the ability to setup various alert types that can be sent via email or text. Clients over the age of 13 are eligible to enroll in Online Banking and get alerts.
If you’ve forgotten or need to change your ATM card PIN please call 1-.
If you’re child has lost their ATM card or suspect it might be stolen, then we’ll quickly disable your old card and get you a new one. You may call your local branch, or our Client Care Center is available at 1-.
Children over the age of 13 can enroll in online banking by visiting societe-anonyme.net or downloading the WaFd Bank app.
Children can deposit checks or cash by using WaFd Bank ATMs (if they have an ATM card), visiting their local branch or using mobile deposit (if over 13 and enrolled in online/mobile banking)
Account owners (children, parents, legal guardians or custodians) can make deposits. Restrictions may apply for other individuals.
At WaFd Bank, the minor account is opened under the child's Social Security Number. If interest income is reported to IRS, a 1099-INT will be issued under the child's name. For more assistance, please consult with a tax specialist.
If an ATM card is requested and issued, withdrawals can be made at WaFd Bank ATMs or at over 37,000 MoneyPass ATMs.
