What is Seedling?
Seedling is based on the idea that saving for a child is easier when everyone helps. When you sign up for Seedling, you can then open a Seedling Custodial Savings Account online. When you combine Seedling and an online Seedling Account, you’re able to invite anyone - friends, family, neighbors - to save for your child.
What is a custodial savings account?
A custodial savings account is a financial account that an adult or custodian opens and maintains on behalf of a child or minor. When the child/minor is of legal adult, the account and balance is transferred to them.
What are the fees or restrictions?
There is no minimum deposit needed to open a Seedling Custodial Savings Account. There is no fee as long as you maintain an average monthly balance of $500. If an average monthly balance is below $500, then there is a fee of $4.50 per month.