Star One Minor Account
Give kids access to learn money management under your guidance.
Because video games don’t grow on trees
No need to choose between high-interest and friendly service for your kids’ first bank accounts. We’ve got both.
Give these kids some hands-on experience with managing money.
Under your watchful eye, of course. Set up text alerts to monitor account activity in their Star One checking or savings accounts.
Young family members earn 3.35% APY* on their savings accounts—just like the adults.
Youth accounts that fit your family’s goals
Star One Minor Account
Give kids access to learn money management under your guidance.
- Kids and teens practice money management and watch interest being earned
- Online and Mobile Banking available. Kids track spending and plan for goals.
- Ages 13+ can add a free checking account and Visa debit card
- A parent or legal guardian must be a joint owner on the account
- Initiate one-time or recurring transfers to minors' accounts
Minor Accounts
A Minor Account can only be opened for a minor under the age of 18.
The account is like any account at Star One except that a parent or legal guardian must be a joint owner on the account.
The minor and adult joint owner both control the account. An adult signature is not required on transactions performed by the minor, and vice versa.
The minor must qualify for Star One membership—usually by living, working, or studying in one of Star One's nine California counties.
- The minor does not need to provide a valid ID for the account to be opened.
- However, the minor must provide valid ID for any in-person transactions at a branch, including the issuance of an ATM card, Visa debit card, or check orders bearing the minor's name.
- The minor must be able to sign their own name for transactions such as in-person withdrawals.
- Minors without valid identification must be accompanied by a parent or guardian who can authenticate their identity.
- Merchants may decline transactions without proper identification.
Star One recognizes U.S. Passports and ID cards issued by a state Department of Motor Vehicles (DMV) as valid forms of identification.
When the minor reaches adult age—18 years old, in California—the account can be converted into a regular savings account.
Star One Transfer to Minors (Gift) Account
Save on a kids’ behalf, and hand it over later.
- No minor access
- Parents, family members, or friends can save money for a young person’s future
- The minor takes possession of the account upon reaching legal age (18 in California).
- The account is an irrevocable trust controlled by a custodian for the benefit of the minor
- Initiate one-time or recurring transfers to minors' accounts
- College savings accounts also available
Open a Transfer to Minors Account
A Transfer to Minors Account can only be opened for a minor under the age of 18.
The custodian controls the account until the minor is of adult age—eighteen (18) years of age in California.
The custodian can withdraw funds from the account, but only for the minor's benefit—a checking account may be opened in addition to a savings account.
If audited, the custodian is solely responsible for explaining withdrawals to the Internal Revenue Service.
Dividends earned are reported under the minor's social security number.
One of the two following membership conditions must be met:
- The minor lives, works or studies in one of Star One's nine California counties, or otherwise qualifies for membership. Learn more about who can join.
- Or, an immediate family member who is a Star One member may sponsor and establish the Transfers to Minors Account.
This account sponsor also designates the custodian and successor custodian on the account. The sponsor may designate themselves in one of these roles, or they may designate other individuals—who are not required to be Star One members.
The California Probate Code states that only one person may serve as custodian at a time.
When the minor reaches adult age—18 years old, in California—the account can be converted into a regular savings account.
A new membership application must be completed and signed by the minor and the minor must present proof of their date of birth (e.g. driver's license, birth certificate or passport).
The custodian's signature is also required when the account is converted or closed.
A Transfer to Minors Account can be opened only by mail, in person, or by appointment with our online Virtual Branch.
Star One Transfer to Minors (Gift) Account
Save on a kid’s behalf, and hand it over later.