Key4Kids^® Savings Account

Key4Kids savings accounts can be opened in a KeyBank branch by a custodian, and that custodian must be a KeyBank client with a deposit or credit account.

To open the account, the custodian must provide their own identification, the minimum opening deposit for the account, and the child's Social Security number and date of birth.

To find a Key branch near you, visit key.com/locations.

The custodian of the account has access to the money and manages it for the benefit of the minor. The custodian can manage the account in KeyBank online and mobile banking and in KeyBank branches. With the custodian present, the minor can withdraw money from their account at any KeyBank branch.

It's recommended that children save at least 10% of their income or allowance. The amount saved depends on your child's age and what they are saving for, such as a new toy or education expenses.

Children can withdraw money from their savings account with the custodian of the account present.

When the child turns 18, the Key4Kids account will automatically become a Key Saver^® account and will be subject to the terms associated with that account, including a $4 monthly maintenance service charge if the account balance falls below $300 on any day of the month. The account will remain designated as a custodial account unless both parties visit a branch together to update the account’s ownership.

The account custodian or the child on the account can make deposits in a branch with the account number. The account custodian can also make deposits online and through mobile banking, as well as directly deposit funds from their paycheck or through automatic debits.