Are you looking for a convenient way to manage a child’s money while they are growing up? Children receive money through out the year. Teach them how to save by opening them up a Tutma account.
How does a Tutma (Texas Uniform Transfer to Minor’s Account) Account Work?
- Parents, Grandparent, Aunts or Uncles, etc. set up a custodial account for a minor from birth to age 21.
- The account is set up in the minor child’s name and social security number. The parent or legal guardian acts as the custodian of the account.
- Anyone can add money to the account for birthdays, holidays, or monthly transfer.
- When the child reaches a certain age (generally between 18 to 21) parent or legal guardian transfers the control of the account to the minor.
- $25.00 minimum deposit to open
- Free Online Banking
- Free e-statements
- No monthly service fees