Accounts for Kids and Teens
It’s never too early to start saving! Teach kids important money management lessons. Set them up for a lifetime of good money habits with an account at Texell. Dollar Squad and thr!ve Teen Accounts make saving fun, allowing members to earn exciting prizes along the way.
Dollar Squad Accounts
When the threat of frivolous spending is real, this elite group of heroes will rise up and teach kids the value of a dollar! Youths, ages 12 and under, can join Texell’s Dollar Squad heroes with an account of their own.
Dollar Squad accounts offer a variety of benefits:
- Membership fee is waived.
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With every deposit, kids earn Squad Dollars to purchase fun prizes. Prizes are better than ever, with items shipped directly to your doorstep. Check it out now!
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Quarterly newsletters that include fun games and helpful information about saving money.
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Squad Kids receive birthday greetings from the Dollar Squad.
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Coloring and activity books are available to Squad members.
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Check your balance and recent transactions through the app (optional)
Meet the Squad Kids:
Today's Dollar Squad Account Rates:
| Prospective Annual Percentage Yield | Minimum to Open | Minimum Daily Balance to Earn Dividends¹ | Minimum to Avoid Service Charge² |
|
1.00% |
$5 (Texell will waive the $5 membership fee) |
$5 |
$0 |
Rates effective 11/19/2024
To access the Dollar Squad Store and have prizes shipped directly to you:
- Make sure you have a Dollar Squad Savings Account.
- Enter your Dollar Squad Store username. Usernames follow this pattern:
- FirstName.LastName.YearofBirth
- Example: Jane.Smith.2019
- Click “Forgot Password” and follow the instructions to reset password.
- Once you set up your account, you can begin shopping for prizes!
Ready to Redeem Your Squad Dollars?
Thr!ve Teen Accounts
Thr!ve Teen Accounts are designed exclusively for ages 13–17. Not only do these accounts help develop the skills required to become financially independent, but they also offer excellent benefits and rewards along the way.³
Thr!ve Accounts are good for parents:- Membership fee is waived
- No minimum balance requirement
- No monthly fees
- Only $5 to open
- Ability to track activity as a cosigner on the account
- Incredible interest rates on balances up to $500 and competitive interest rates on balances above $500
- Free Mobile Banking with Texell’s Mobile App
- Free Mobile Deposit
- Free online account access via Digital Banking
- $10 Starbucks gift card as a thank you for opening your account
- Access to over 92,000 free ATMs worldwide
- Gifts³ for account anniversaries
- Incredible interest rates on balances up to $500 and competitive interest rates on balances above $500
Today’s thr!ve Account Rates:
Frequently Asked Questions:
How much does the account cost to open?
Dollar Squad and Thr!ve Accounts are only $5 to open. Texell will pay for the initial $5 membership fee for Dollar Squad Accounts.
Can I transfer/add money to the youth account?
Yes! You can transfer or add funds to the account at any time through Digital Banking or at any branch. You also have access to track account activity via Digital Banking.
Does my child need to be present to open an account?
Your child does not need to be present to open a Dollar Squad Account. Your teen must be present when opening a Thr!ve Account.
What identification is needed to open a Youth account?
To open a Dollar Squad Account, you will need the Social Security Number and date of birth — no physical documents are required. To open a Thr!ve Account, you will need one form of identification (e.g., birth certificate, Social Security card, school or state ID, or Passport).
How do I get my Dollar Squad Store Prizes?
Visit this site for access to your online account. If you have not logged in before:
- Make sure you have a Texell Dollar Squad Savings Account.
- Enter your Dollar Squad Store username. Usernames follow this pattern: FirstName.LastName.YearofBirth — Example: Jane.Smith.2019.
- Click “Forgot Password” and follow the instructions to set your Store password.
- Once you set up your account, you can begin shopping for prizes!
Who owns the Thr!ve Account?
The child is the primary owner of the account. The custodian is the joint owner of the account. When the thr!ve member reaches their 18th birthday, the account will convert to a regular savings and checking account.