I use Bank of America and Wells Fargo in America and opened my children’s account with Bank of America, I just seem to enjoy BoA services and the branches are usually the closest to wherever I am in the US. Coming back to Nigeria, I wanted to research properly and see which Bank offered the best kids account, which had the easiest options in saving and withdrawal? Which had the most incentive? Which had future plans for my trio? It was imperative to do this since I had three accounts to open. I decided to research the 4 banks I already had an existing relationship with.


I have a soft spot for Access bank because of all the bank does for women. Not that I have benefitted but I see their initiatives and I can only say kudos to them. For their children’s account, I was told that it was a no card use account. This means most transactions will be done inside the bank. While this helps with saving for the kids, I just do not understand a world where you cannot use a card or conduct online transactions for a bank account any more. I just love sitting in front of a computer and getting my transactions done.  Going into a bank branch in this day and age is a waste of precious time in my opinion, and with three children needing attention; I do not get this at all. Access bank seems to have the most robust children’s event. I hope this has continued every year.


From 0-12 years can open this account and get an ATM card and operate the account online. This is good. These accounts are not usually linked to my subsisting account with the First bank, everything is done separately. In America, my BoA account is linked to the triplets’ account, so once I opened my account online or with the app, I see all my kids’ accounts as well. This serves as a reminder of what is in the account and if there is need to save more. I believe this is a better approach. Nigerian banks tend to separate your accounts from the kids’ account; they could all be linked since the parent is in charge of this same account. There is a promise of a goody bag once you open with over N10,000.00 (Ten Thousand Naira), I pray these bags are always available in all branches. All in all not a bad package from First Bank.


I must say I have personal, business and domiciliary accounts with GTB, so they were the first bank I approached for the triplets’ accounts. Once again I was told I had to enter a branch for transactions. While this is good in a way as you cannot just sit and do anything with the money saved easily, it is not the most convenient idea. I think we should be able to operate these accounts online and we should have ATM cards for the kids and the account should be linked to one of my own accounts.

They also have all these programs – School Fees advance, health plan, Insurance plan and education plan provided by their sister company AXA Mansard. But ensuring the kids is a different ball game which I plan to research someday. For the school fees advance; knowing GTB, there’s probably a catch that could make this difficult to access. Thank God mine are still young and not paying fees yet.


The only thing different about this is the zero account opening balance unlike First Bank and GTBank and Access Bank that has N1,000 as an opening balance. The interest rate is 4.2%; I am not sure whether you lose this if you withdraw more than 4 times in a month like it is at GTBank. I have a feeling Zenith Bank doesn’t really focus on the children’s account as an organization, looks like their emphasis and strength is more on Corporates.