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Custodial (UTMA) Savings Account for Children

Overview

Custodial access

The custodian is responsible for managing and distributing the funds in this account on behalf of the minor.

Automatic transfers

Set up automatic transfers to help build your savings. Simply choose the amount and frequency you want to transfer money. Plus make changes anytime

Keep the Change®

Build your savings automatically with our Keep the Change® savings program.

FDIC insured

Custodial Savings account balances are FDIC insured up to applicable limits.

Fees

Fees

Fees

Monthly FeeRequired Opening DepositWithdrawal Limit Fee
  • No monthly maintenance fee for each statement cycle that you:
  • Maintain a minimum daily balance of at least $XXXX
  • Or pay $XXXX/month
  • $XXXX
  • Total of $XXXX transfers and withdrawals each monthly statement cycle without a Withdrawal Limit Fee.
  • You may be charged a $XXXX fee for each additional transfer and withdrawal you make before your statement cycle ends.
  • You will be charged no more than $XXXX of these fees each statement cycle.
  • If you maintain a minimum daily balance of $XXXX or more in this account, you won’t be charged this fee.
  • Transaction limits apply

View all fees

Download the Personal Schedule of Fees

Rates

Rates

Rewards Savings Account

Account balance amountStandard Annual Percentage Yield (APY)

Rewards Savings Account

Account balance amount
Standard Annual Percentage Yield (APY)

How to qualify

To enroll in Preferred Rewards you need an eligible Bank of America® personal checking account and a 3-month average combined balance of $20,000 or more in qualifying Bank of America® banking accounts and/or Merrill Edge® and Merrill Lynch® investment accounts. Learn more about Preferred Rewards

Features

Build your savings automatically with our Keep the Change® savings program

Make everyday purchases with your eligible Bank of America debit card and we'll round up your purchase to the nearest dollar amount. Then we'll transfer the difference from your checking account to your savings account.

Benefits

Expansive network of financial centers

With thousands of ATMs and financial centers available, as well as 24-hour online access, we are almost wherever you need us.

Mobile check deposit

Deposit a check using the camera on your smartphone or tablet in the Mobile Banking app. Snap a picture of the front and back of the check, choose your account and amount and send. For your protection, check images are stored securely at the bank and never on your device.

Award-winning Mobile Banking service

Our mobile app ensures you get convenient account access whenever and wherever you are.

Mobile Banking

Get convenient account access, now with fingerprint sign-in and Touch ID®. Use our free mobile app to deposit checks, check balances, pay bills, transfer money and locate ATMs and financial centers on the go. Plus, with our customizable mobile app alerts you can stay informed of just about everything that happens with your savings account.

Automatic transfers

Set up automatic transfers to help build your savings. Simply choose the amount and frequency you want to transfer money. Plus make changes anytime.

Transfers

At Bank of America, you have more options to send money where you need to. Make real-time transfers between your accounts, or securely send money to a person simply using their mobile number or email address.

Overdraft Protection made simple

Link your savings account to your checking account for Overdraft Protection.

Alerts

With Bank of America alerts, you can choose to be notified about a change to your account that's important to you. From monitoring your balance, to tracking a deposit, to paying a bill, just choose when and how you want to be notified.
Information for:

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